Point72 Asia Singapore Pte. Ltd. Has $179,000 Stock Holdings in World Kinect Co. (NYSE:WKC)

Point72 Asia Singapore Pte. Ltd. raised its stake in shares of World Kinect Co. (NYSE:WKC) by 20.7% during the second quarter, Holdings Channel reports. The firm owned 6,927 shares of the company’s stock after buying an additional 1,189 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in World Kinect were worth $179,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Sanctuary Advisors LLC acquired a new stake in World Kinect in the 2nd quarter valued at $1,187,000. Truist Financial Corp acquired a new stake in shares of World Kinect in the 2nd quarter valued at $528,000. Brandes Investment Partners LP boosted its stake in shares of World Kinect by 10.6% in the 2nd quarter. Brandes Investment Partners LP now owns 2,972,932 shares of the company’s stock valued at $76,714,000 after purchasing an additional 284,560 shares in the last quarter. Algert Global LLC bought a new stake in shares of World Kinect in the 2nd quarter worth about $1,901,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in World Kinect by 5.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,255 shares of the company’s stock valued at $781,000 after purchasing an additional 1,570 shares during the last quarter. 97.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on WKC shares. Bank of America upped their price objective 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. Stifel Nicolaus cut their price objective on World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Morgan Stanley cut 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. Finally, JPMorgan Chase & Co. lifted their price target on World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Two equities research 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’s stock. According to MarketBeat, World Kinect presently has an average rating of “Hold” and an average price target of $30.40.

World Kinect Stock Up 0.4 %

NYSE:WKC opened at $30.92 on Thursday. The stock’s fifty day moving average price is $28.31 and its two-hundred day moving average price is $26.48. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 33.25, a P/E/G ratio of 1.06 and a beta of 1.24. World Kinect Co. has a 52-week low of $17.69 and a 52-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.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) 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 the consensus estimate of $11.98 billion. World Kinect had a net margin of 0.29% and a return on equity of 6.26%. World Kinect’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 EPS. On average, analysts anticipate that World Kinect Co. will post 2.15 EPS for the current year.

World Kinect Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Monday, September 30th. World Kinect’s dividend payout ratio is 73.12%.

Insider Buying and Selling

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

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.