Squarepoint Ops LLC Sells 36,816 Shares of World Kinect Co. (NYSE:WKC)

Squarepoint Ops LLC trimmed its position in shares of World Kinect Co. (NYSE:WKC) by 76.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 11,392 shares of the company’s stock after selling 36,816 shares during the quarter. Squarepoint Ops LLC’s holdings in World Kinect were worth $294,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in shares of 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 2nd quarter. Bank of Montreal Can now owns 527,404 shares of the company’s stock worth $13,697,000 after purchasing an additional 33,332 shares in the last quarter. Boston Partners raised its stake 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 worth $35,263,000 after purchasing an additional 149,433 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of World Kinect during the fourth quarter valued at $8,913,000. Finally, Texas Permanent School Fund Corp boosted its position in shares of World Kinect by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 52,688 shares of the company’s stock valued at $1,394,000 after buying an additional 682 shares during the last quarter. 97.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. 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 report on Thursday, September 19th. Morgan Stanley downgraded 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 report on Monday, September 16th. Bank of America lifted their target price on shares of World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a research report on Friday, September 13th. Finally, Stifel Nicolaus lowered their price target on World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.40.

Insider Buying and Selling

In other news, CEO Michael J. Kasbar sold 58,948 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the sale, the chief executive officer now directly owns 1,019,063 shares in the company, valued at $28,452,238.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other World Kinect news, 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 transaction, the director now directly owns 49,614 shares in the company, valued at $1,403,083.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael J. Kasbar sold 58,948 shares of World Kinect stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.92, for a total transaction 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.

World Kinect Stock Up 1.9 %

Shares of WKC stock opened at $30.73 on Friday. The company has a 50 day simple moving average of $28.76 and a two-hundred day simple moving average of $26.71. The stock has a market cap of $1.82 billion, a P/E ratio of 13.61, a P/E/G ratio of 1.06 and a beta of 1.25. World Kinect Co. has a 12 month low of $17.69 and a 12 month high of $31.70. The company has a current ratio of 1.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.39.

World Kinect (NYSE:WKC) last released 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 company had revenue of $10.97 billion for 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%. World Kinect’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 earnings per share. On average, 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. Investors of record on Monday, September 30th will be paid 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 dividend yield of 2.21%. World Kinect’s dividend payout ratio (DPR) is presently 30.09%.

World Kinect announced that its Board of Directors has approved a stock repurchase program on Monday, September 9th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 11% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.