Sanctuary Advisors LLC Acquires New Position in World Kinect Co. (NYSE:WKC)

Sanctuary Advisors LLC acquired a new position in World Kinect Co. (NYSE:WKC - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 46,006 shares of the company's stock, valued at approximately $1,187,000. Sanctuary Advisors LLC owned 0.08% of World Kinect as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of World Kinect during the 2nd quarter valued at $65,000. PNC Financial Services Group Inc. bought a new position in shares of World Kinect during the 4th quarter valued at $148,000. Point72 Asia Singapore Pte. Ltd. raised its holdings 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 purchasing an additional 1,189 shares in the last quarter. Privium Fund Management UK Ltd bought a new position in shares of World Kinect during the 2nd quarter valued at $208,000. Finally, Skyline Advisors Inc. bought a new position in shares of World Kinect during the 4th quarter valued at $214,000. Institutional investors and hedge funds own 97.06% of the company's stock.

World Kinect Stock Performance

Shares of WKC opened at $30.15 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.98. The company has a market capitalization of $1.78 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.06 and a beta of 1.25. The company's fifty day moving average price is $28.76 and its 200 day moving average price is $26.71. World Kinect Co. has a one year low of $17.69 and a one year high of $31.70.

World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.08). The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.98 billion. World Kinect had a return on equity of 6.26% and a net margin of 0.29%. The business's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 earnings per share. As a group, analysts expect that World Kinect Co. will post 2.15 earnings per share for the current year.

World Kinect Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.68 annualized dividend and a yield of 2.26%. World Kinect's dividend payout ratio is 30.09%.

World Kinect announced that its Board of Directors has authorized a stock buyback program on Monday, September 9th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 11% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WKC. JPMorgan Chase & Co. raised their price target on shares of World Kinect from $29.00 to $32.00 and gave the company a "neutral" rating in a report on Thursday, September 19th. Morgan Stanley downgraded shares of World Kinect from an "equal weight" rating to an "underweight" rating and set a $28.00 price target on the stock. in a report on Monday, September 16th. Stifel Nicolaus dropped their target price on shares of World Kinect from $35.00 to $33.00 and set a "buy" rating on the stock in a report on Friday, July 26th. Finally, Bank of America lifted their target price on shares of World Kinect from $24.00 to $27.00 and gave the stock an "underperform" rating in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, World Kinect currently has a consensus rating of "Hold" and an average price target of $30.40.

Insiders Place Their Bets

In other news, CEO Michael J. Kasbar sold 58,948 shares of World Kinect stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the sale, the chief executive officer now directly owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael J. Kasbar sold 58,948 shares of World Kinect stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the sale, the chief executive officer now directly owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Manley sold 16,000 shares of World Kinect stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total transaction of $452,480.00. Following the sale, the director now owns 49,614 shares in the company, valued at approximately $1,403,083.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.90% of the company's stock.

About World Kinect

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.