Algert Global LLC Raises Stake in World Kinect Co. (NYSE:WKC)

Algert Global LLC lifted its stake in shares of World Kinect Co. (NYSE:WKC - Free Report) by 88.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,560 shares of the company's stock after purchasing an additional 64,867 shares during the period. Algert Global LLC owned 0.24% of World Kinect worth $4,283,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of World Kinect by 2.1% in the first quarter. Vanguard Group Inc. now owns 7,056,230 shares of the company's stock valued at $186,637,000 after buying an additional 146,899 shares during the period. Pacer Advisors Inc. purchased a new stake in World Kinect in the 3rd quarter worth about $138,806,000. Dimensional Fund Advisors LP lifted its holdings in World Kinect by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 4,126,784 shares of the company's stock valued at $106,471,000 after purchasing an additional 140,314 shares during the last quarter. Brandes Investment Partners LP lifted its holdings in World Kinect by 10.6% during the second quarter. Brandes Investment Partners LP now owns 2,972,932 shares of the company's stock valued at $76,714,000 after purchasing an additional 284,560 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in World Kinect by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,030 shares of the company's stock worth $42,379,000 after purchasing an additional 4,201 shares during the period. Institutional investors own 97.06% of the company's stock.

World Kinect Price Performance

World Kinect stock traded up $0.26 during midday trading on Monday, hitting $28.98. 886,392 shares of the company's stock were exchanged, compared to its average volume of 659,369. The company has a market cap of $1.68 billion, a P/E ratio of 12.76, a PEG ratio of 1.12 and a beta of 1.26. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. The stock has a 50-day moving average price of $29.35 and a two-hundred day moving average price of $27.48. World Kinect Co. has a 52-week low of $20.00 and a 52-week high of $31.70.

World Kinect (NYSE:WKC - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.62 EPS for the quarter, hitting the consensus estimate of $0.62. World Kinect had a return on equity of 6.29% and a net margin of 0.30%. The company had revenue of $10.49 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. World Kinect's revenue was down 14.3% on a year-over-year basis. On average, equities research analysts forecast that World Kinect Co. will post 2.12 earnings per share for the current year.

World Kinect announced that its board has authorized a share buyback plan on Monday, September 9th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 11% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

World Kinect Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Monday, September 30th. World Kinect's dividend payout ratio is currently 30.22%.

Analyst Upgrades and Downgrades

WKC has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of World Kinect from $29.00 to $32.00 and gave the company a "neutral" rating in a research report on Thursday, September 19th. Bank of America increased their target price on World Kinect from $24.00 to $27.00 and gave the stock an "underperform" rating in a research report on Friday, September 13th. Morgan Stanley cut World Kinect from an "equal weight" rating to an "underweight" rating and set a $28.00 price target for the company. in a research report on Monday, September 16th. Finally, Stifel Nicolaus lowered World Kinect from a "buy" rating to a "hold" rating and reduced their target price for the company from $33.00 to $32.00 in a report on Friday, October 25th. Two equities 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. According to MarketBeat, World Kinect presently has an average rating of "Hold" and an average target price of $30.20.

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.