Dean Investment Associates LLC decreased its holdings in World Kinect Co. (NYSE:WKC - Free Report) by 19.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 104,106 shares of the company's stock after selling 24,400 shares during the quarter. Dean Investment Associates LLC owned approximately 0.18% of World Kinect worth $3,218,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Pacer Advisors Inc. acquired a new stake in shares of World Kinect in the 3rd quarter valued at $138,806,000. Dimensional Fund Advisors LP boosted its stake in World Kinect by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,126,784 shares of the company's stock valued at $106,471,000 after acquiring an additional 140,314 shares during the last quarter. Brandes Investment Partners LP grew its holdings in World Kinect by 10.6% during the 2nd quarter. Brandes Investment Partners LP now owns 2,972,932 shares of the company's stock worth $76,714,000 after acquiring an additional 284,560 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of World Kinect by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,030 shares of the company's stock valued at $42,379,000 after acquiring an additional 4,201 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of World Kinect by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company's stock valued at $41,465,000 after purchasing an additional 56,952 shares during the period. Institutional investors and hedge funds own 97.06% of the company's stock.
World Kinect Stock Performance
WKC stock remained flat at $28.28 during mid-day trading on Monday. 515,098 shares of the company's stock traded hands, compared to its average volume of 658,600. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 1.10 and a beta of 1.28. World Kinect Co. has a 52-week low of $20.00 and a 52-week high of $31.70. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $28.99 and a 200 day simple moving average of $27.79.
World Kinect (NYSE:WKC - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $0.62 earnings per share for the quarter, hitting analysts' consensus estimates of $0.62. The firm had revenue of $10.49 billion during the quarter, compared to analyst estimates of $11.77 billion. World Kinect had a net margin of 0.30% and a return on equity of 6.29%. The company's revenue for the quarter was down 14.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 EPS. On average, equities research analysts predict that World Kinect Co. will post 2.12 EPS for the current fiscal year.
World Kinect declared that its Board of Directors has approved a stock buyback program on Monday, September 9th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to reacquire up to 11% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on WKC shares. Bank of America upped their price objective on World Kinect from $24.00 to $27.00 and gave the company an "underperform" rating in a report on Friday, September 13th. JPMorgan Chase & Co. boosted their target price on World Kinect from $29.00 to $32.00 and gave the stock a "neutral" rating in a research report on Thursday, September 19th. Morgan Stanley lowered shares of World Kinect from an "equal weight" rating to an "underweight" rating and set a $28.00 price objective on the stock. in a research note on Monday, September 16th. Finally, Stifel Nicolaus downgraded shares of World Kinect from a "buy" rating to a "hold" rating and lowered their target price for the company from $33.00 to $32.00 in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $30.20.
Read Our Latest Stock Analysis on World Kinect
World Kinect Company Profile
(
Free Report)
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.
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