World Kinect Co. (NYSE:WKC) Stock Position Boosted by EVR Research LP

EVR Research LP increased its stake in shares of World Kinect Co. (NYSE:WKC) by 14.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 850,000 shares of the company’s stock after buying an additional 105,000 shares during the quarter. World Kinect comprises 6.6% of EVR Research LP’s holdings, making the stock its 4th largest position. EVR Research LP owned 1.42% of World Kinect worth $21,930,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System raised its position in World Kinect by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the company’s stock valued at $779,000 after purchasing an additional 400 shares during the period. Texas Permanent School Fund Corp raised its position in World Kinect by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 52,688 shares of the company’s stock valued at $1,394,000 after purchasing an additional 682 shares during the period. Envestnet Asset Management Inc. raised its position in World Kinect by 1.1% in the second 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 period. ProShare Advisors LLC raised its position in World Kinect by 7.4% in the first quarter. ProShare Advisors LLC now owns 12,062 shares of the company’s stock valued at $319,000 after purchasing an additional 829 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in 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 period. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on WKC shares. Morgan Stanley downgraded World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research report on Monday, September 16th. Stifel Nicolaus lowered their target price on World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Bank of America boosted 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. Finally, JPMorgan Chase & Co. boosted their target price 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 analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.40.

World Kinect Stock Down 1.6 %

World Kinect stock opened at $30.42 on Thursday. World Kinect Co. has a fifty-two week low of $17.69 and a fifty-two week high of $31.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.98 and a current ratio of 1.15. The company has a market capitalization of $1.80 billion, a P/E ratio of 32.71, a PEG ratio of 1.06 and a beta of 1.24. The stock has a 50-day simple moving average of $27.98 and a 200-day simple moving average of $26.29.

World Kinect (NYSE:WKC) last posted its earnings results on Thursday, July 25th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.08). The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.98 billion. World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. Equities research analysts expect that World Kinect Co. will post 2.15 earnings per share for the current year.

World Kinect Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Monday, September 30th. World Kinect’s dividend payout ratio is presently 73.12%.

Insider Buying and Selling at World Kinect

In other World Kinect news, CEO Michael J. Kasbar sold 58,948 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Michael J. Kasbar sold 58,948 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.92, for a total value of $1,645,828.16. Following the sale, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Manley sold 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total value of $452,480.00. Following the completion of the sale, the director now owns 49,614 shares in the company, valued at approximately $1,403,083.92. The disclosure for this sale can be found here. 2.90% of the stock is owned by company insiders.

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.