Barclays PLC lifted its position in shares of World Kinect Co. (NYSE:WKC - Free Report) by 18.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 256,126 shares of the company's stock after buying an additional 40,233 shares during the period. Barclays PLC owned about 0.44% of World Kinect worth $7,918,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the company. EP Wealth Advisors LLC purchased a new position in shares of World Kinect during the third quarter worth approximately $201,000. Stifel Financial Corp bought a new position in shares of World Kinect during the 3rd quarter valued at $485,000. Quarry LP raised its position in World Kinect by 3,600.0% in the 3rd 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 Asset Management L.P. bought a new stake in World Kinect in the third quarter worth $535,000. Finally, HighTower Advisors LLC purchased a new stake in World Kinect during the third quarter valued at about $297,000. Institutional investors own 97.06% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on WKC shares. 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 target on World Kinect from $24.00 to $27.00 and gave the stock an "underperform" rating in a research note on Friday, September 13th. Stifel Nicolaus downgraded World Kinect from a "buy" rating to a "hold" rating and lowered their price objective for the company from $33.00 to $32.00 in a research report on Friday, October 25th. Finally, Morgan Stanley cut shares of World Kinect from an "equal weight" rating to an "underweight" rating and set a $28.00 target price on the stock. in a report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $30.20.
Get Our Latest Stock Analysis on World Kinect
World Kinect Trading Down 2.7 %
NYSE:WKC traded down $0.77 during mid-day trading on Wednesday, reaching $27.27. 834,578 shares of the company's stock traded hands, compared to its average volume of 659,706. World Kinect Co. has a 12-month low of $21.21 and a 12-month 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 company has a 50 day moving average price of $28.70 and a 200-day moving average price of $27.91. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 1.12 and a beta of 1.28.
World Kinect (NYSE:WKC - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $0.62 EPS for the quarter, meeting analysts' consensus estimates of $0.62. The company had revenue of $10.49 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 earnings per share. On average, sell-side analysts predict that World Kinect Co. will post 2.12 earnings per share for the current year.
World Kinect Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Monday, December 23rd will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $0.68 annualized dividend and a dividend yield of 2.49%. World Kinect's dividend payout ratio is 30.22%.
World Kinect declared that its board has approved a share buyback plan 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 stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.
About World Kinect
(
Free Report)
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.
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