World Kinect Co. (NYSE:WKC) Stock Holdings Decreased by NFJ Investment Group LLC

NFJ Investment Group LLC lessened its position in World Kinect Co. (NYSE:WKC) by 15.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 361,253 shares of the company’s stock after selling 63,758 shares during the quarter. NFJ Investment Group LLC owned approximately 0.62% of World Kinect worth $11,166,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new stake in shares of World Kinect in the third quarter worth $138,806,000. Dimensional Fund Advisors LP lifted its stake in World Kinect by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,126,784 shares of the company’s stock worth $106,471,000 after acquiring an additional 140,314 shares in the last quarter. Brandes Investment Partners LP boosted its position in World Kinect by 10.6% during the 2nd quarter. Brandes Investment Partners LP now owns 2,972,932 shares of the company’s stock worth $76,714,000 after acquiring an additional 284,560 shares during the period. Charles Schwab Investment Management Inc. grew its stake in World Kinect by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,030 shares of the company’s stock valued at $42,379,000 after acquiring an additional 4,201 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of World Kinect by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company’s stock valued at $41,465,000 after purchasing an additional 56,952 shares during the period. Institutional investors and hedge funds own 97.06% of the company’s stock.

Wall Street Analyst Weigh In

WKC has been the topic of a number of research analyst reports. Morgan Stanley downgraded shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a research report on Monday, September 16th. Bank of America upped 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. JPMorgan Chase & Co. lifted their price objective on World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Finally, Stifel Nicolaus lowered World Kinect from a “buy” rating to a “hold” rating and dropped their target price for the stock from $33.00 to $32.00 in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, World Kinect presently has an average rating of “Hold” and a consensus target price of $30.20.

World Kinect Stock Down 0.7 %

NYSE:WKC traded down $0.21 during trading hours on Tuesday, reaching $29.13. The company’s stock had a trading volume of 41,218 shares, compared to its average volume of 654,668. World Kinect Co. has a one year low of $20.00 and a one year high of $31.70. The business’s 50-day moving average is $29.20 and its 200-day moving average is $27.66. 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 market cap of $1.69 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.28.

World Kinect (NYSE:WKC) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.62 earnings per share (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 quarter in the prior year, the company posted $0.58 EPS. The firm’s revenue was down 14.3% on a year-over-year basis. Equities research analysts predict that World Kinect Co. will post 2.12 EPS for the current year.

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Monday, September 30th. World Kinect’s payout ratio is 30.22%.

World Kinect declared that its Board of Directors has approved a stock repurchase program on Monday, September 9th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 11% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors 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.