Janney Montgomery Scott LLC Makes New $1.89 Million Investment in World Kinect Co. (NYSE:WKC)

Janney Montgomery Scott LLC acquired a new stake in shares of World Kinect Co. (NYSE:WKC - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 61,038 shares of the company's stock, valued at approximately $1,887,000. Janney Montgomery Scott LLC owned 0.10% of World Kinect at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of World Kinect in the second quarter worth about $65,000. Everence Capital Management Inc. purchased a new stake in shares of World Kinect during the 3rd quarter worth approximately $210,000. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of World Kinect by 20.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,927 shares of the company's stock valued at $179,000 after acquiring an additional 1,189 shares during the last quarter. Highland Capital Management LLC purchased a new position in shares of World Kinect in the third quarter valued at $253,000. Finally, Privium Fund Management UK Ltd bought a new stake in World Kinect in the second quarter worth $208,000. Institutional investors own 97.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on WKC shares. Morgan Stanley cut shares of World Kinect from an "equal weight" rating to an "underweight" rating and set a $28.00 price objective for the company. in a research note on Monday, September 16th. Bank of America increased their price target on World Kinect from $24.00 to $27.00 and gave the stock an "underperform" rating in a report on Friday, September 13th. Stifel Nicolaus downgraded shares of World Kinect from a "buy" rating to a "hold" rating and dropped their target price for the stock from $33.00 to $32.00 in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. increased their price target on World Kinect from $29.00 to $32.00 and gave the stock a "neutral" rating in a research report on Thursday, September 19th. Two investment 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 MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $30.20.

Insider Buying and Selling

In other news, CEO Michael J. Kasbar sold 58,948 shares of the company's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the completion of the sale, the chief executive officer now owns 1,019,063 shares in the company, valued at $28,452,238.96. This represents a 5.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.90% of the stock is owned by company insiders.

World Kinect Trading Down 0.0 %

NYSE WKC traded down $0.01 during trading on Thursday, hitting $27.84. The stock had a trading volume of 450,585 shares, compared to its average volume of 659,557. The company has a market capitalization of $1.62 billion, a PE ratio of 12.28, a PEG ratio of 1.09 and a beta of 1.26. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. The firm has a 50 day moving average price of $29.37 and a 200 day moving average price of $27.26. World Kinect Co. has a twelve month low of $19.97 and a twelve month high of $31.70.

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

World Kinect Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.44%. The ex-dividend date was Monday, September 30th. World Kinect's payout ratio is 30.22%.

World Kinect declared that its board has initiated a stock buyback program on Monday, September 9th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 11% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

World Kinect Company 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.