Quantbot Technologies LP Raises Holdings in World Kinect Co. (NYSE:WKC)

Quantbot Technologies LP increased its position in shares of World Kinect Co. (NYSE:WKC - Free Report) by 244.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,746 shares of the company's stock after purchasing an additional 61,572 shares during the period. Quantbot Technologies LP owned approximately 0.15% of World Kinect worth $2,681,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Hara Capital LLC acquired a new stake in shares of World Kinect in the 3rd quarter valued at approximately $76,000. Innealta Capital LLC purchased a new stake in shares of World Kinect during the 2nd quarter worth $65,000. Everence Capital Management Inc. acquired a new position in shares of World Kinect during the 3rd quarter worth $210,000. Quest Partners LLC increased its holdings in shares of World Kinect by 678,100.0% in the 3rd quarter. Quest Partners LLC now owns 6,782 shares of the company's stock valued at $210,000 after purchasing an additional 6,781 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of World Kinect by 20.7% in the second 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 during the period. Institutional investors and hedge funds own 97.06% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WKC. Stifel Nicolaus cut shares of World Kinect from a "buy" rating to a "hold" rating and dropped their target price for the company from $33.00 to $32.00 in a report on Friday, October 25th. Morgan Stanley downgraded 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. 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. Finally, Bank of America raised their price target on World Kinect from $24.00 to $27.00 and gave the company an "underperform" rating in a research report on Friday, September 13th. 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $30.20.

World Kinect Price Performance

Shares of World Kinect stock remained flat at $29.14 during trading on Thursday. The company had a trading volume of 501,097 shares, compared to its average volume of 659,396. World Kinect Co. has a 1 year low of $20.00 and a 1 year high of $31.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. The stock has a fifty day moving average of $29.31 and a 200 day moving average of $27.56. The stock has a market cap of $1.69 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 1.13 and a beta of 1.26.

World Kinect (NYSE:WKC - Get Free Report) last released its quarterly 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 company 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 business's revenue for the quarter was down 14.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 earnings per share. Analysts predict that World Kinect Co. will post 2.12 earnings per share for the current year.

World Kinect declared that its Board of Directors has initiated a stock repurchase 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 shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

World Kinect Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.33%. World Kinect's dividend payout ratio (DPR) is presently 30.22%.

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.