Sanctuary Advisors LLC Makes New $1.19 Million Investment in World Kinect Co. (NYSE:WKC)

Sanctuary Advisors LLC purchased a new stake in World Kinect Co. (NYSE:WKC) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 46,006 shares of the company’s stock, valued at approximately $1,187,000.

Several other large investors also recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new stake in World Kinect during the fourth quarter valued at approximately $2,822,000. Bank of Montreal Can increased its holdings in shares of World Kinect by 6.7% in the second quarter. Bank of Montreal Can now owns 527,404 shares of the company’s stock valued at $13,697,000 after buying an additional 33,332 shares in the last quarter. Boston Partners increased its holdings in shares of World Kinect by 12.4% in the first quarter. Boston Partners now owns 1,358,173 shares of the company’s stock valued at $35,263,000 after buying an additional 149,433 shares in the last quarter. Nomura Holdings Inc. bought a new stake in shares of World Kinect during the 4th quarter worth $8,913,000. Finally, Texas Permanent School Fund Corp grew its holdings in shares of World Kinect by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 52,688 shares of the company’s stock worth $1,394,000 after acquiring an additional 682 shares during the last quarter. Institutional investors own 97.06% of the company’s stock.

Insider Buying and Selling at World Kinect

In other news, CEO Michael J. Kasbar sold 58,948 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at $28,452,238.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director John L. Manley sold 16,000 shares of World Kinect stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total value of $452,480.00. Following the transaction, the director now owns 49,614 shares of the company’s stock, valued at $1,403,083.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Kasbar sold 58,948 shares of the business’s stock in a transaction dated 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 directly owns 1,019,063 shares of the company’s stock, valued at $28,452,238.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on WKC. JPMorgan Chase & Co. upped their target price on World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Bank of America upped their price objective on shares of World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a research note on Friday, September 13th. Stifel Nicolaus dropped their target price on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Finally, Morgan Stanley downgraded 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 research report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.40.

World Kinect Price Performance

Shares of WKC opened at $30.15 on Friday. The business’s 50-day moving average is $28.76 and its 200-day moving average is $26.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.98. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 32.42, a P/E/G ratio of 1.06 and a beta of 1.25. World Kinect Co. has a fifty-two week low of $17.69 and a fifty-two week high of $31.70.

World Kinect (NYSE:WKC) last released its quarterly earnings data 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 company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.98 billion. World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 EPS. Equities research analysts expect that World Kinect Co. will post 2.15 EPS for the current fiscal year.

World Kinect declared that its Board of Directors has initiated a stock repurchase plan on Monday, September 9th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 11% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

World Kinect Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Monday, September 30th will be given a dividend of $0.17 per share. The ex-dividend date is Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a yield of 2.26%. World Kinect’s payout ratio is 73.12%.

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.