Pacer Advisors Inc. Makes New Investment in World Kinect Co. (NYSE:WKC)

Pacer Advisors Inc. bought a new position in World Kinect Co. (NYSE:WKC) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,490,655 shares of the company’s stock, valued at approximately $138,806,000. Pacer Advisors Inc. owned approximately 0.08% of World Kinect at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Hara Capital LLC purchased a new position in shares of World Kinect in the 3rd quarter worth $76,000. Innealta Capital LLC bought a new stake in shares of World Kinect in the second quarter worth about $65,000. Everence Capital Management Inc. bought a new stake in shares of World Kinect in the third quarter worth about $210,000. Quest Partners LLC increased its holdings in shares of World Kinect by 678,100.0% in the third quarter. Quest Partners LLC now owns 6,782 shares of the company’s stock worth $210,000 after purchasing an additional 6,781 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of World Kinect by 20.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,927 shares of the company’s stock worth $179,000 after purchasing an additional 1,189 shares during the last quarter. Institutional investors own 97.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WKC. Morgan Stanley cut World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a research note on Monday, September 16th. Bank of America boosted their price objective on World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a research note on Friday, September 13th. Stifel Nicolaus cut World Kinect from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $33.00 to $32.00 in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. increased 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. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, World Kinect presently has an average rating of “Hold” and a consensus price target of $30.20.

World Kinect Trading Up 0.8 %

Shares of NYSE WKC opened at $28.02 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. The business’s 50 day moving average price is $29.36 and its 200-day moving average price is $27.41. World Kinect Co. has a fifty-two week low of $20.00 and a fifty-two week high of $31.70. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.08 and a beta of 1.26.

World Kinect (NYSE:WKC) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.62 earnings per share 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 firm had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the prior year, the business posted $0.58 earnings per share. The company’s revenue for the quarter was down 14.3% on a year-over-year basis. On average, sell-side analysts expect that World Kinect Co. will post 2.12 earnings per share for the current year.

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

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.68 annualized dividend and a yield of 2.43%. World Kinect’s dividend payout ratio (DPR) is currently 30.22%.

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.