Villanova Investment Management Co LLC Has $2.74 Million Stock Holdings in World Kinect Co. (NYSE:WKC)

Villanova Investment Management Co LLC trimmed its holdings in shares of World Kinect Co. (NYSE:WKC - Free Report) by 21.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,629 shares of the company's stock after selling 23,993 shares during the quarter. World Kinect accounts for about 2.9% of Villanova Investment Management Co LLC's holdings, making the stock its 5th largest position. Villanova Investment Management Co LLC owned about 0.15% of World Kinect worth $2,740,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of WKC. Louisiana State Employees Retirement System lifted its position in shares of World Kinect by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the company's stock valued at $779,000 after buying an additional 400 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in World Kinect by 1.1% during the second quarter. Envestnet Asset Management Inc. now owns 70,091 shares of the company's stock valued at $1,808,000 after purchasing an additional 773 shares during the last quarter. Quarry LP boosted its position in World Kinect by 3,600.0% during the third quarter. Quarry LP now owns 1,073 shares of the company's stock worth $33,000 after purchasing an additional 1,044 shares during the period. Point72 Asia Singapore Pte. Ltd. increased 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 worth $179,000 after purchasing an additional 1,189 shares in the last quarter. Finally, Bahl & Gaynor Inc. raised its position in shares of World Kinect by 0.7% in the second quarter. Bahl & Gaynor Inc. now owns 187,018 shares of the company's stock valued at $4,825,000 after purchasing an additional 1,292 shares during the period. 97.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on WKC shares. Stifel Nicolaus downgraded shares of World Kinect from a "buy" rating to a "hold" rating and cut their price objective for the stock from $33.00 to $32.00 in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their price target on World Kinect from $29.00 to $32.00 and gave the company a "neutral" rating in a research report on Thursday, September 19th. Bank of America increased 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, Morgan Stanley cut World Kinect from an "equal weight" rating to an "underweight" rating and set a $28.00 price target on the stock. in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $30.20.

World Kinect Price Performance

World Kinect stock traded down $0.47 during midday trading on Friday, hitting $28.28. 488,103 shares of the company's stock were exchanged, compared to its average volume of 558,050. The stock has a 50-day moving average price of $29.04 and a two-hundred day moving average price of $27.72. World Kinect Co. has a 52-week low of $20.00 and a 52-week high of $31.70. The company has a market cap of $1.64 billion, a P/E ratio of 12.57, a PEG ratio of 1.12 and a beta of 1.28. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16.

World Kinect (NYSE:WKC - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $0.62 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.62. The business 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%. World Kinect's revenue for the quarter was down 14.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.58 earnings per share. On average, equities research analysts forecast that World Kinect Co. will post 2.12 earnings per share for the current year.

World Kinect announced that its Board of Directors has initiated a stock buyback program on Monday, September 9th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 11% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

World Kinect Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders 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 2.40%. The ex-dividend date was Monday, September 30th. World Kinect's dividend payout ratio (DPR) is currently 30.22%.

World Kinect 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.