Sanctuary Advisors LLC Sells 6,621 Shares of World Kinect Co. (NYSE:WKC)

Sanctuary Advisors LLC lessened its holdings in shares of World Kinect Co. (NYSE:WKC) by 14.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,385 shares of the company’s stock after selling 6,621 shares during the period. Sanctuary Advisors LLC’s holdings in World Kinect were worth $1,131,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pacer Advisors Inc. purchased a new stake in World Kinect in the third quarter worth about $138,806,000. Deprince Race & Zollo Inc. bought a new position in World Kinect during the 2nd quarter valued at approximately $12,207,000. Brandes Investment Partners LP raised its stake in World Kinect by 10.6% during the second quarter. Brandes Investment Partners LP now owns 2,972,932 shares of the company’s stock valued at $76,714,000 after buying an additional 284,560 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in World Kinect by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,126,784 shares of the company’s stock worth $106,471,000 after acquiring an additional 140,314 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of World Kinect by 11.2% in the second quarter. American Century Companies Inc. now owns 1,133,257 shares of the company’s stock worth $29,238,000 after acquiring an additional 113,711 shares during the last quarter. 97.06% of the stock is owned by hedge funds and other institutional investors.

World Kinect Stock Performance

Shares of NYSE WKC opened at $26.87 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. The firm’s 50-day moving average price is $28.50 and its 200-day moving average price is $27.92. World Kinect Co. has a 52-week low of $21.21 and a 52-week high of $31.70. The company has a market cap of $1.56 billion, a PE ratio of 11.94, a PEG ratio of 1.12 and a beta of 1.28.

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

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

World Kinect Dividend Announcement

The company 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 $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Monday, December 23rd. World Kinect’s dividend payout ratio is 30.22%.

Wall Street Analysts Forecast Growth

WKC has been the subject of several recent analyst reports. Bank of America lifted their price target on World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a research report on Friday, September 13th. Morgan Stanley cut shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a report on Monday, September 16th. Stifel Nicolaus cut shares of World Kinect from a “buy” rating to a “hold” rating and cut their price target for the company from $33.00 to $32.00 in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of World Kinect from $29.00 to $32.00 and gave the stock 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.