Maryland State Retirement & Pension System Sells 2,616 Shares of World Kinect Corporation (NYSE:WKC)

Maryland State Retirement & Pension System decreased its holdings in World Kinect Corporation (NYSE:WKC) by 13.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,942 shares of the company’s stock after selling 2,616 shares during the quarter. Maryland State Retirement & Pension System’s holdings in World Kinect were worth $480,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in shares of World Kinect by 86.5% during the first quarter. PNC Financial Services Group Inc. now owns 6,307 shares of the company’s stock worth $179,000 after acquiring an additional 2,925 shares during the last quarter. EP Wealth Advisors LLC raised its position in shares of World Kinect by 17.0% during the fourth quarter. EP Wealth Advisors LLC now owns 7,604 shares of the company’s stock worth $209,000 after acquiring an additional 1,104 shares during the last quarter. Eukles Asset Management raised its position in shares of World Kinect by 17.6% during the first quarter. Eukles Asset Management now owns 7,800 shares of the company’s stock worth $221,000 after acquiring an additional 1,165 shares during the last quarter. Quantinno Capital Management LP bought a new stake in shares of World Kinect during the fourth quarter worth $224,000. Finally, Cetera Investment Advisers bought a new stake in shares of World Kinect during the fourth quarter worth $242,000. Institutional investors own 97.06% of the company’s stock.

World Kinect Trading Down 1.5%

NYSE WKC opened at $25.33 on Friday. The stock has a 50-day simple moving average of $27.75 and a 200 day simple moving average of $27.34. The company has a market capitalization of $1.41 billion, a PE ratio of -3.32, a P/E/G ratio of 1.17 and a beta of 1.39. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. World Kinect Corporation has a 12 month low of $22.70 and a 12 month high of $31.70.

World Kinect (NYSE:WKC) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.11. The business had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $9.32 billion. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%. Research analysts forecast that World Kinect Corporation will post 2.56 EPS for the current year.

World Kinect Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Tuesday, June 17th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This is a positive change from World Kinect’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a yield of 3.2%. World Kinect’s payout ratio is presently -10.48%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WKC. Morgan Stanley dropped their target price on World Kinect from $32.00 to $26.00 and set an “underweight” rating for the company in a research report on Wednesday, August 6th. Raymond James Financial restated an “outperform” rating and set a $33.00 target price (down previously from $35.00) on shares of World Kinect in a research report on Friday, August 1st. Finally, Bank of America dropped their target price on World Kinect from $27.00 to $26.00 and set an “underperform” rating for the company in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $29.40.

World Kinect Profile

World Kinect Corporation operates as an energy management company in the United States, the Americas, Europe, the Middle East, Africa, and the Asia Pacific. This segment also offers fuel management, price risk management, ground handling, dispatch services, and trip planning services, such as flight planning and scheduling, weather reports and overflight permits; payment and processing services; and operates a web-based marketplace platform.