World Kinect Co. (NYSE:WKC) Shares Bought by Barclays PLC

Barclays PLC lifted its stake in shares of World Kinect Co. (NYSE:WKC) by 18.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 256,126 shares of the company’s stock after acquiring an additional 40,233 shares during the period. Barclays PLC’s holdings in World Kinect were worth $7,918,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its holdings in shares of World Kinect by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the company’s stock worth $779,000 after buying an additional 400 shares in the last quarter. Bank of New York Mellon Corp grew its stake in World Kinect by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 754,761 shares of the company’s stock worth $19,473,000 after acquiring an additional 14,754 shares during the period. Legato Capital Management LLC raised its holdings in World Kinect by 19.5% in the 2nd quarter. Legato Capital Management LLC now owns 47,454 shares of the company’s stock valued at $1,224,000 after acquiring an additional 7,755 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of World Kinect during the 2nd quarter worth $65,000. Finally, Versor Investments LP acquired a new stake in shares of World Kinect during the second quarter worth $228,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on WKC shares. Stifel Nicolaus lowered 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 research note on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on shares of World Kinect from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Morgan Stanley downgraded shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a report on Monday, September 16th. Finally, Bank of America increased their price target on shares of World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, World Kinect has a consensus rating of “Hold” and a consensus price target of $30.20.

World Kinect Stock Down 0.7 %

WKC opened at $28.05 on Wednesday. World Kinect Co. has a 1 year low of $21.21 and a 1 year high of $31.70. The firm has a 50 day moving average price of $28.74 and a 200 day moving average price of $27.90. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. The company has a market cap of $1.63 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.12 and a beta of 1.28.

World Kinect (NYSE:WKC) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.62 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.62. The company 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%. The business’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 earnings per share. Sell-side analysts expect that World Kinect Co. will post 2.12 earnings per share for the current year.

World Kinect Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Monday, December 23rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Monday, December 23rd. World Kinect’s dividend payout ratio is presently 30.22%.

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