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

Barclays PLC increased its holdings in shares of World Kinect Co. (NYSE:WKC) by 18.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 256,126 shares of the company’s stock after purchasing an additional 40,233 shares during the period. Barclays PLC owned 0.44% of World Kinect worth $7,918,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of WKC. 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 during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of World Kinect by 1.1% in the 2nd 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 increased its holdings in shares of World Kinect by 3,600.0% in the third quarter. Quarry LP now owns 1,073 shares of the company’s stock valued at $33,000 after purchasing an additional 1,044 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of World Kinect by 20.7% during 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 during the last quarter. Finally, Bahl & Gaynor Inc. lifted its holdings in shares of World Kinect by 0.7% during the second quarter. Bahl & Gaynor Inc. now owns 187,018 shares of the company’s stock worth $4,825,000 after purchasing an additional 1,292 shares during the period. 97.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WKC shares. Stifel Nicolaus cut shares of World Kinect from a “buy” rating to a “hold” rating and dropped their price objective for the company from $33.00 to $32.00 in a research note on Friday, October 25th. Morgan Stanley cut shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price target for the company. in a report on Monday, September 16th. 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 report on Thursday, September 19th. Finally, Bank of America increased their target price on World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.20.

World Kinect Price Performance

WKC stock opened at $28.05 on Wednesday. The firm has a 50 day moving average of $28.74 and a 200-day moving average of $27.90. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 1.12 and a beta of 1.28. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. World Kinect Co. has a 12-month low of $21.21 and a 12-month high of $31.70.

World Kinect (NYSE:WKC) last issued 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 firm had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $11.77 billion. World Kinect had a return on equity of 6.29% and a net margin of 0.30%. World Kinect’s revenue was down 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 earnings per share. As a group, equities analysts expect that World Kinect Co. will post 2.12 EPS for the current fiscal year.

World Kinect Announces Dividend

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

World Kinect announced that its Board of Directors has initiated a stock repurchase plan on Monday, September 9th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 11% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About World Kinect

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.