MetLife Investment Management LLC Sells 1,410 Shares of World Kinect Corporation $WKC

MetLife Investment Management LLC decreased its holdings in shares of World Kinect Corporation (NYSE:WKC) by 4.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 34,117 shares of the company’s stock after selling 1,410 shares during the period. MetLife Investment Management LLC’s holdings in World Kinect were worth $968,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in World Kinect during the first quarter valued at $32,000. PNC Financial Services Group Inc. lifted its stake in 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 purchasing an additional 2,925 shares during the last quarter. AlphaQuest LLC lifted its stake in World Kinect by 576.8% during the first quarter. AlphaQuest LLC now owns 6,680 shares of the company’s stock worth $189,000 after purchasing an additional 5,693 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in 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 purchasing an additional 1,104 shares during the last quarter. Finally, Eukles Asset Management lifted its stake in 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 purchasing an additional 1,165 shares during the last quarter. Institutional investors own 97.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WKC. Morgan Stanley dropped their price target on World Kinect from $32.00 to $26.00 and set an “underweight” rating for the company in a research note on Wednesday, August 6th. Raymond James Financial reaffirmed an “outperform” rating and set a $33.00 price target (down previously from $35.00) on shares of World Kinect in a research note on Friday, August 1st. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $29.40.

World Kinect Trading Down 0.8%

NYSE WKC opened at $26.58 on Friday. World Kinect Corporation has a 1-year low of $22.70 and a 1-year high of $31.70. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average of $27.31 and a 200-day moving average of $27.18. The firm has a market cap of $1.48 billion, a PE ratio of -3.48, a price-to-earnings-growth ratio of 1.21 and a beta of 1.38.

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

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.