Atria Investments Inc Sells 2,853 Shares of World Kinect Co. (NYSE:WKC)

Atria Investments Inc decreased its stake in shares of World Kinect Co. (NYSE:WKC) by 7.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 33,456 shares of the company’s stock after selling 2,853 shares during the period. Atria Investments Inc’s holdings in World Kinect were worth $1,034,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Louisiana State Employees Retirement System grew its position in shares of World Kinect by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the company’s stock valued at $779,000 after purchasing an additional 400 shares during the last quarter. Envestnet Asset Management Inc. increased its position in World Kinect by 1.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 70,091 shares of the company’s stock worth $1,808,000 after buying an additional 773 shares during the period. ProShare Advisors LLC lifted its holdings in shares of World Kinect by 7.4% during the first quarter. ProShare Advisors LLC now owns 12,062 shares of the company’s stock worth $319,000 after buying an additional 829 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position 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 valued at $179,000 after acquiring an additional 1,189 shares during the period. Finally, Bahl & Gaynor Inc. increased its position in World Kinect by 0.7% during the second quarter. Bahl & Gaynor Inc. now owns 187,018 shares of the company’s stock worth $4,825,000 after acquiring an additional 1,292 shares during the period. 97.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WKC shares. Morgan Stanley lowered shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research report on Monday, September 16th. JPMorgan Chase & Co. lifted their price objective on World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Stifel Nicolaus downgraded World Kinect from a “buy” rating to a “hold” rating and cut their target price for the company from $33.00 to $32.00 in a research report on Friday, October 25th. Finally, Bank of America boosted their price target on World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a research note on Friday, September 13th. Two 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’s stock. According to MarketBeat.com, World Kinect currently has an average rating of “Hold” and a consensus price target of $30.20.

World Kinect Price Performance

Shares of NYSE:WKC opened at $27.85 on Monday. World Kinect Co. has a one year low of $19.97 and a one year high of $31.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.08 and a beta of 1.26. The firm has a 50 day simple moving average of $29.37 and a 200 day simple moving average of $27.32.

World Kinect (NYSE:WKC) last released its quarterly earnings data 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 return on equity of 6.29% and a net margin of 0.30%. The company had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter last year, the business posted $0.58 EPS. World Kinect’s revenue for the quarter was down 14.3% on a year-over-year basis. Research analysts predict that World Kinect Co. will post 2.12 earnings per share for the current fiscal year.

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Monday, September 30th. World Kinect’s dividend payout ratio is currently 30.22%.

World Kinect declared that its Board of Directors has initiated a stock buyback plan on Monday, September 9th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to purchase up to 11% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

About World Kinect

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.