Victory Capital Management Inc. Buys 47,142 Shares of World Kinect Co. (NYSE:WKC)

Victory Capital Management Inc. grew its position in shares of World Kinect Co. (NYSE:WKC - Free Report) by 11.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 454,954 shares of the company's stock after purchasing an additional 47,142 shares during the period. Victory Capital Management Inc. owned about 0.78% of World Kinect worth $14,063,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WKC. Deprince Race & Zollo Inc. bought a new stake in World Kinect during the second quarter worth about $12,207,000. Brandes Investment Partners LP increased its holdings in shares of World Kinect by 10.6% in the second quarter. Brandes Investment Partners LP now owns 2,972,932 shares of the company's stock worth $76,714,000 after buying an additional 284,560 shares during the period. Boston Partners increased its holdings in shares of World Kinect by 12.4% in the first quarter. Boston Partners now owns 1,358,173 shares of the company's stock worth $35,263,000 after buying an additional 149,433 shares during the period. Vanguard Group Inc. increased its holdings 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 worth $186,637,000 after buying an additional 146,899 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of World Kinect by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,126,784 shares of the company's stock worth $106,471,000 after buying an additional 140,314 shares during the period. Institutional investors own 97.06% of the company's stock.

World Kinect Trading Up 0.8 %

NYSE:WKC traded up $0.22 during mid-day trading on Wednesday, reaching $28.02. 755,426 shares of the company's stock traded hands, compared to its average volume of 660,117. World Kinect Co. has a 12-month low of $20.00 and a 12-month high of $31.70. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.08 and a beta of 1.26. 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 company has a 50 day moving average price of $29.36 and a 200-day moving average price of $27.40.

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 analysts' consensus estimates of $0.62. World Kinect had a return on equity of 6.29% and a net margin of 0.30%. The firm had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter in the prior year, the business earned $0.58 EPS. The business's revenue for the quarter was down 14.3% on a year-over-year basis. On average, sell-side analysts predict that World Kinect Co. will post 2.12 earnings per share for the current year.

World Kinect announced that its Board of Directors has approved a share repurchase program on Monday, September 9th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 11% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

World Kinect Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th were issued a dividend of $0.17 per share. The ex-dividend date was Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.43%. World Kinect's dividend payout ratio (DPR) is 30.22%.

Analyst Ratings Changes

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

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.