Brandes Investment Partners LP Has $76.71 Million Stock Holdings in World Kinect Co. (NYSE:WKC)

Brandes Investment Partners LP grew its stake in shares of World Kinect Co. (NYSE:WKC) by 10.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,972,932 shares of the company’s stock after purchasing an additional 284,560 shares during the quarter. Brandes Investment Partners LP’s holdings in World Kinect were worth $76,714,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Algert Global LLC acquired a new position in World Kinect during the second quarter worth $1,901,000. The Manufacturers Life Insurance Company raised its holdings in shares of World Kinect by 5.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,255 shares of the company’s stock valued at $781,000 after purchasing an additional 1,570 shares during the period. Deprince Race & Zollo Inc. acquired a new stake in World Kinect in the 2nd quarter valued at about $12,207,000. EVR Research LP raised its stake in World Kinect by 14.1% in the second quarter. EVR Research LP now owns 850,000 shares of the company’s stock valued at $21,930,000 after buying an additional 105,000 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of World Kinect by 20.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,927 shares of the company’s stock worth $179,000 after buying an additional 1,189 shares during the last quarter. Institutional investors own 97.06% of the company’s stock.

World Kinect Stock Performance

Shares of NYSE:WKC opened at $30.81 on Monday. The company’s 50 day simple moving average is $28.14 and its 200 day simple moving average is $26.39. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.98. World Kinect Co. has a 1 year low of $17.69 and a 1 year high of $31.70. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 1.06 and a beta of 1.24.

World Kinect (NYSE:WKC) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.08). World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.98 billion. During the same period last year, the firm posted $0.48 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, research analysts predict that World Kinect Co. will post 2.15 EPS for the current fiscal year.

World Kinect Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th will be given a $0.17 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.68 annualized dividend and a yield of 2.21%. World Kinect’s dividend payout ratio is presently 73.12%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WKC shares. 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 research note on Friday, September 13th. Stifel Nicolaus decreased their price target on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Morgan Stanley cut shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $30.40.

Insider Activity

In related news, Director John L. Manley sold 16,000 shares of World Kinect stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total transaction of $452,480.00. Following the sale, the director now directly owns 49,614 shares in the company, valued at approximately $1,403,083.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Michael J. Kasbar sold 58,948 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.92, for a total value of $1,645,828.16. Following the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Manley sold 16,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total transaction of $452,480.00. Following the sale, the director now owns 49,614 shares of the company’s stock, valued at $1,403,083.92. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

World Kinect Company 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.