PDT Partners LLC Has $1.01 Million Position in World Kinect Co. (NYSE:WKC)

PDT Partners LLC lowered its stake in World Kinect Co. (NYSE:WKC - Free Report) by 60.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,541 shares of the company's stock after selling 50,026 shares during the quarter. PDT Partners LLC owned about 0.06% of World Kinect worth $1,006,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WKC. Innealta Capital LLC acquired a new stake in World Kinect in the 2nd quarter valued at approximately $65,000. Hara Capital LLC acquired a new stake in shares of World Kinect in the third quarter valued at approximately $76,000. Point72 Asia Singapore Pte. Ltd. raised its holdings 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 last quarter. Privium Fund Management UK Ltd bought a new stake in shares of World Kinect in the second quarter worth $208,000. Finally, Everence Capital Management Inc. acquired a new position in World Kinect during the third quarter worth $210,000. Institutional investors and hedge funds own 97.06% of the company's stock.

Wall Street Analysts Forecast Growth

WKC has been the topic of several analyst reports. Stifel Nicolaus cut shares of World Kinect from a "buy" rating to a "hold" rating and cut their price target for the stock from $33.00 to $32.00 in a research report on Friday, October 25th. Morgan Stanley lowered 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. 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 note on Friday, September 13th. Finally, JPMorgan Chase & Co. upped their price objective on World Kinect from $29.00 to $32.00 and gave the stock a "neutral" rating in a research note on Thursday, September 19th. Two 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $30.20.

World Kinect Stock Performance

World Kinect stock traded up $0.39 during midday trading on Monday, reaching $29.34. 532,141 shares of the company's stock were exchanged, compared to its average volume of 657,354. The stock's 50-day simple moving average is $29.20 and its 200 day simple moving average is $27.66. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 1.12 and a beta of 1.26. 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 Co. has a 52 week low of $20.00 and a 52 week high of $31.70.

World Kinect (NYSE:WKC - Get Free Report) last issued its earnings results on Thursday, October 24th. The company reported $0.62 EPS for the quarter, hitting the consensus estimate of $0.62. World Kinect had a return on equity of 6.29% and a net margin of 0.30%. The company had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the previous year, the company posted $0.58 EPS. The firm's revenue for the quarter was down 14.3% compared to the same quarter last year. On average, analysts expect that World Kinect Co. will post 2.12 earnings per share for the current fiscal year.

World Kinect Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Monday, September 30th. World Kinect's payout ratio is presently 30.22%.

World Kinect declared that its Board of Directors has approved a share buyback plan on Monday, September 9th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 11% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

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.