World Kinect Co. (NYSE:WKC) Shares Sold by PDT Partners LLC

PDT Partners LLC cut its position in shares of World Kinect Co. (NYSE:WKC) by 60.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,541 shares of the company’s stock after selling 50,026 shares during the quarter. PDT Partners LLC’s holdings in World Kinect were worth $1,006,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP lifted its stake in World Kinect by 244.6% in the 3rd quarter. Quantbot Technologies LP now owns 86,746 shares of the company’s stock valued at $2,681,000 after buying an additional 61,572 shares in the last quarter. Algert Global LLC raised its holdings in shares of World Kinect by 88.0% in the third quarter. Algert Global LLC now owns 138,560 shares of the company’s stock worth $4,283,000 after acquiring an additional 64,867 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of World Kinect by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,030 shares of the company’s stock valued at $42,379,000 after acquiring an additional 4,201 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of World Kinect during the third quarter valued at $138,806,000. Finally, Intech Investment Management LLC purchased a new stake in World Kinect during the 3rd quarter worth about $454,000. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on WKC shares. Stifel Nicolaus lowered shares of World Kinect from a “buy” rating to a “hold” rating and reduced their target price for the company from $33.00 to $32.00 in a report on Friday, October 25th. 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 note on Monday, September 16th. Bank of America boosted their price target on World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. raised their price objective on 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 given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.20.

World Kinect Price Performance

WKC opened at $28.95 on Monday. World Kinect Co. has a 1 year low of $20.00 and a 1 year high of $31.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. The company’s 50 day simple moving average is $29.22 and its 200 day simple moving average is $27.63. The stock has a market capitalization of $1.68 billion, a PE ratio of 12.87, a P/E/G ratio of 1.12 and a beta of 1.26.

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

World Kinect Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.68 annualized dividend and a yield of 2.35%. World Kinect’s dividend payout ratio is presently 30.22%.

World Kinect announced that its Board of Directors has initiated a share buyback program on Monday, September 9th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy up to 11% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board 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.