World Kinect Co. (NYSE:WKC) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in World Kinect Co. (NYSE:WKC) by 11.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 454,954 shares of the company’s stock after buying an additional 47,142 shares during the period. Victory Capital Management Inc.’s holdings in World Kinect were worth $14,063,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Innealta Capital LLC purchased a new stake in World Kinect during the 2nd quarter valued at approximately $65,000. Hara Capital LLC acquired a new position in shares of World Kinect in the third quarter valued at approximately $76,000. 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. Privium Fund Management UK Ltd purchased a new stake in shares of World Kinect during the second quarter worth approximately $208,000. Finally, Everence Capital Management Inc. acquired a new stake in shares of World Kinect during the third quarter worth $210,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Price Performance

Shares of NYSE WKC opened at $27.80 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. World Kinect Co. has a one year low of $20.00 and a one year high of $31.70. The firm has a market capitalization of $1.61 billion, a P/E ratio of 12.36, a PEG ratio of 1.08 and a beta of 1.26. The company’s fifty day moving average is $29.37 and its two-hundred day moving average is $27.37.

World Kinect (NYSE:WKC) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.62 EPS for the quarter, hitting analysts’ consensus estimates of $0.62. World Kinect had a net margin of 0.30% and a return on equity of 6.29%. The firm had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The firm’s revenue was down 14.3% on a year-over-year basis. Analysts forecast that World Kinect Co. will post 2.12 EPS for the current fiscal year.

World Kinect Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Monday, September 30th. World Kinect’s dividend payout ratio is currently 30.22%.

World Kinect declared that its Board of Directors has initiated a stock repurchase program on Monday, September 9th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 11% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

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

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.