6,780 Shares in World Kinect Co. (NYSE:WKC) Bought by Everence Capital Management Inc.

Everence Capital Management Inc. purchased a new position in shares of World Kinect Co. (NYSE:WKC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,780 shares of the company’s stock, valued at approximately $210,000.

Several other institutional investors have also bought and sold shares of WKC. Deprince Race & Zollo Inc. bought a new stake in World Kinect during the second quarter worth $12,207,000. Brandes Investment Partners LP grew its holdings in World Kinect by 10.6% during the second quarter. Brandes Investment Partners LP now owns 2,972,932 shares of the company’s stock worth $76,714,000 after buying an additional 284,560 shares in the last quarter. Boston Partners grew its holdings in World Kinect by 12.4% during the first quarter. Boston Partners now owns 1,358,173 shares of the company’s stock worth $35,263,000 after buying an additional 149,433 shares in the last quarter. Vanguard Group Inc. grew its holdings in World Kinect by 2.1% during the first quarter. Vanguard Group Inc. now owns 7,056,230 shares of the company’s stock worth $186,637,000 after buying an additional 146,899 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in World Kinect by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 4,126,784 shares of the company’s stock worth $106,471,000 after buying an additional 140,314 shares in the last quarter. Institutional investors own 97.06% of the company’s stock.

Insider Buying and Selling

In related news, Director John L. Manley sold 16,000 shares of the stock in a transaction dated 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 approximately $1,403,083.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director John L. Manley sold 16,000 shares of the stock in a transaction dated 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 approximately $1,403,083.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Kasbar sold 58,948 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.92, for a total value 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 disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target on World Kinect from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Stifel Nicolaus reduced their price objective on World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Bank of America upped their price objective on World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a research note on Friday, September 13th. Finally, Morgan Stanley downgraded 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. Two 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. Based on data from MarketBeat.com, World Kinect has a consensus rating of “Hold” and an average target price of $30.40.

World Kinect Stock Up 1.0 %

Shares of NYSE WKC opened at $31.37 on Wednesday. World Kinect Co. has a one year low of $17.69 and a one year high of $31.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.98. The business’s fifty day moving average price is $29.50 and its 200-day moving average price is $26.97. The stock has a market capitalization of $1.88 billion, a PE ratio of 33.73, a P/E/G ratio of 1.06 and a beta of 1.25.

World Kinect (NYSE:WKC) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.98 billion. During the same period in the prior year, the company earned $0.48 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. On average, equities research analysts anticipate that World Kinect Co. will post 2.15 EPS for the current year.

World Kinect announced that its board has authorized a stock repurchase plan on Monday, September 9th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 11% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

World Kinect Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a yield of 2.17%. World Kinect’s dividend payout ratio (DPR) is 73.12%.

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.