XTX Topco Ltd Reduces Holdings in World Kinect Co. (NYSE:WKC)

XTX Topco Ltd lowered its stake in shares of World Kinect Co. (NYSE:WKC) by 54.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,454 shares of the company’s stock after selling 12,407 shares during the quarter. XTX Topco Ltd’s holdings in World Kinect were worth $323,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. purchased a new stake in World Kinect during the 3rd quarter worth approximately $138,806,000. Deprince Race & Zollo Inc. purchased a new stake in shares of World Kinect during the second quarter valued at $12,207,000. Brandes Investment Partners LP increased its position in shares of World Kinect by 10.6% in the 2nd quarter. Brandes Investment Partners LP now owns 2,972,932 shares of the company’s stock valued at $76,714,000 after acquiring an additional 284,560 shares during the period. Dimensional Fund Advisors LP raised its stake in World Kinect by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,126,784 shares of the company’s stock worth $106,471,000 after acquiring an additional 140,314 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in World Kinect by 11.2% during the 2nd quarter. American Century Companies Inc. now owns 1,133,257 shares of the company’s stock worth $29,238,000 after acquiring an additional 113,711 shares during the period. 97.06% of the stock is owned by hedge funds and other institutional investors.

World Kinect Stock Down 0.1 %

Shares of WKC stock opened at $28.24 on Tuesday. World Kinect Co. has a twelve month low of $21.21 and a twelve month high of $31.70. The stock has a market cap of $1.64 billion, a P/E ratio of 12.55, a P/E/G ratio of 1.12 and a beta of 1.28. The stock has a 50 day moving average of $28.79 and a 200 day moving average of $27.88. 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 posted its earnings results on Thursday, October 24th. The company reported $0.62 earnings per share for the quarter, meeting the consensus estimate of $0.62. World Kinect had a net margin of 0.30% and a return on equity of 6.29%. The firm had revenue of $10.49 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same period in the previous year, the firm earned $0.58 EPS. The business’s quarterly revenue was down 14.3% on a year-over-year basis. As a group, sell-side analysts expect that World Kinect Co. will post 2.12 EPS for the current year.

World Kinect declared that its Board of Directors has initiated a share repurchase program on Monday, September 9th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 11% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

World Kinect Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders 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 dividend yield of 2.41%. The ex-dividend date of this dividend is Monday, December 23rd. World Kinect’s dividend payout ratio (DPR) is presently 30.22%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Bank of America increased their price objective on World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a report on Friday, September 13th. Morgan Stanley downgraded shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a report on Monday, September 16th. Stifel Nicolaus cut shares of 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 research note on Friday, October 25th. Finally, JPMorgan Chase & Co. upped 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 investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, World Kinect currently has a consensus rating of “Hold” and an average 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.