UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 12,697 Shares of World Kinect Co. (NYSE:WKC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in World Kinect Co. (NYSE:WKC) by 8.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,497 shares of the company’s stock after selling 12,697 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.25% of World Kinect worth $4,435,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WKC. Innealta Capital LLC bought a new stake in shares of World Kinect during the 2nd quarter valued at $65,000. Hara Capital LLC bought a new stake in shares of World Kinect during the 3rd quarter worth $76,000. Point72 Asia Singapore Pte. Ltd. lifted its position 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. Privium Fund Management UK Ltd bought a new stake in shares of World Kinect during the 2nd quarter worth $208,000. Finally, Everence Capital Management Inc. bought a new stake in shares of World Kinect during the 3rd quarter worth $210,000. 97.06% of the stock is currently owned by institutional investors.

World Kinect Stock Performance

Shares of World Kinect stock opened at $28.22 on Friday. The business’s fifty day simple moving average is $28.85 and its 200 day simple moving average is $27.82. The firm has a market capitalization of $1.64 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.10 and a beta of 1.28. World Kinect Co. has a 12 month low of $20.07 and a 12 month high of $31.70. 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 (NYSE:WKC) last released 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. The business had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $11.77 billion. World Kinect had a return on equity of 6.29% and a net margin of 0.30%. The business’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same period last year, the business posted $0.58 earnings per share. As a group, analysts anticipate that World Kinect Co. will post 2.12 EPS for the current year.

World Kinect announced that its Board of Directors has initiated a stock buyback program on Monday, September 9th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 11% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

WKC has been the subject of several recent analyst reports. Stifel Nicolaus downgraded World Kinect from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $33.00 to $32.00 in a research report on Friday, October 25th. Morgan Stanley downgraded World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a research report on Monday, September 16th. Bank of America increased their target price on World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. increased their target price on World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, World Kinect presently has an average rating of “Hold” and a consensus target price 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.