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

Sanctuary Advisors LLC lowered its position in World Kinect Co. (NYSE:WKC) by 14.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,385 shares of the company’s stock after selling 6,621 shares during the quarter. Sanctuary Advisors LLC owned about 0.07% of World Kinect worth $1,131,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. bought a new position in World Kinect in the 3rd quarter worth about $138,806,000. Dimensional Fund Advisors LP increased its position in shares of 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 purchasing an additional 140,314 shares during the last quarter. Brandes Investment Partners LP raised its stake in World Kinect by 10.6% in the second quarter. Brandes Investment Partners LP now owns 2,972,932 shares of the company’s stock valued at $76,714,000 after purchasing an additional 284,560 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in World Kinect by 0.3% during 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 purchasing an additional 4,201 shares during the last quarter. Finally, Geode Capital Management LLC grew 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 worth $42,358,000 after buying an additional 22,077 shares in the last quarter. Hedge funds and other institutional investors own 97.06% of the company’s stock.

World Kinect Stock Down 1.9 %

Shares of NYSE:WKC opened at $26.87 on Friday. The stock has a market capitalization of $1.56 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 1.12 and a beta of 1.28. The stock’s 50-day moving average price is $28.50 and its 200-day moving average price is $27.92. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. World Kinect Co. has a 12-month low of $21.21 and a 12-month high of $31.70.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.62 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $11.77 billion. During the same period last year, the company earned $0.58 EPS. World Kinect’s revenue for the quarter was down 14.3% compared to the same quarter last year. On average, equities analysts anticipate that World Kinect Co. will post 2.12 earnings per share for the current year.

World Kinect Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Monday, December 23rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Monday, December 23rd. World Kinect’s payout ratio is 30.22%.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on WKC. Morgan Stanley downgraded 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 report on Monday, September 16th. 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 note on Friday, September 13th. JPMorgan Chase & Co. upped 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. Finally, Stifel Nicolaus cut World Kinect from a “buy” rating to a “hold” rating and decreased their price objective for the company from $33.00 to $32.00 in a report on Friday, October 25th. Two investment 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. Based on data from MarketBeat, World Kinect has an average rating of “Hold” and a consensus price target 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.