Wilmington Savings Fund Society FSB Takes $31,000 Position in World Kinect Co. (NYSE:WKC)

Wilmington Savings Fund Society FSB bought a new stake in World Kinect Co. (NYSE:WKC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,000 shares of the company’s stock, valued at approximately $31,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in World Kinect by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company’s stock valued at $42,358,000 after purchasing an additional 22,077 shares during the last quarter. Barclays PLC grew its holdings in shares of World Kinect by 18.6% during the third quarter. Barclays PLC now owns 256,126 shares of the company’s stock worth $7,918,000 after buying an additional 40,233 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in shares of World Kinect in the third quarter valued at approximately $201,000. Stifel Financial Corp purchased a new position in shares of World Kinect during the third quarter valued at approximately $485,000. Finally, Quarry LP boosted its position in World Kinect by 3,600.0% during the third quarter. Quarry LP now owns 1,073 shares of the company’s stock worth $33,000 after acquiring an additional 1,044 shares during the last quarter. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Analysts Set New Price Targets

WKC has been the subject of several analyst reports. JPMorgan Chase & Co. boosted 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. Bank of America upped their target price on World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a research note on Friday, September 13th. Morgan Stanley lowered World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research note on Monday, September 16th. Finally, Stifel Nicolaus downgraded shares of World Kinect from a “buy” rating to a “hold” rating and dropped their price objective for the company from $33.00 to $32.00 in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, World Kinect presently has an average rating of “Hold” and an average target price of $30.20.

World Kinect Price Performance

Shares of World Kinect stock opened at $26.80 on Tuesday. The stock has a market capitalization of $1.56 billion, a P/E ratio of 11.91, a PEG ratio of 1.12 and a beta of 1.28. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. The business’s fifty day moving average price is $28.42 and its 200 day moving average price is $27.93. World Kinect Co. has a twelve month low of $21.21 and a twelve month high of $31.70.

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

World Kinect Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Monday, December 23rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Monday, December 23rd. World Kinect’s dividend payout ratio is presently 30.22%.

World Kinect announced that its Board of Directors has initiated a stock repurchase plan on Monday, September 9th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 11% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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.