2 weeks Ago By Defense World Staff
Brandes Investment Partners LP boosted its holdings in shares of World Kinect Co. ( NYSE:WKC – Free Report ) by 10.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission.
The firm owned 2,972,932 shares of the company’s stock after acquiring an additional 284,560 shares during the quarter. Brandes Investment Partners LP owned 4.96% of World Kinect worth $76,714,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. Innealta Capital LLC purchased a new stake in World Kinect in the 2nd quarter worth approximately $65,000. PNC Financial Services Group Inc.
purchased a new stake in shares of World Kinect during the fourth quarter worth $148,000. Point72 Asia Singapore Pte. Ltd.
grew its stake in 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 purchasing an additional 1,189 shares in the last quarter. Privium Fund Management UK Ltd purchased a new stake in shares of World Kinect during the 2nd quarter worth about $208,000.
Finally, Skyline Advisors Inc. acquired a new stake in shares of World Kinect during the 4th quarter valued at about $214,000. Hedge funds and other institutional investors own 97.
06% of the company’s stock. Analyst Upgrades and Downgrades A number of analysts have issued reports on the stock. JPMorgan Chase & Co.
lifted their target price on shares of World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th.
Stifel Nicolaus decreased their price objective on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, July 26th.
Bank of America boosted their price target on World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a research report 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 target for the company. in a research note on Monday, September 16th.
Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, World Kinect currently has a consensus rating of “Hold” and an average target price of $30.40.
Insiders Place Their Bets In other World Kinect news, Director John L. Manley sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $28.
28, for a total value of $452,480.00. Following the completion of the sale, the director now owns 49,614 shares in the company, valued at approximately $1,403,083.
92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink . In other World Kinect news, 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 transaction, the chief executive officer now owns 1,019,063 shares of the company’s stock, valued at $28,452,238.96.
The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link . Also, Director John L. Manley sold 16,000 shares of the business’s stock in a transaction dated Wednesday, July 31st.
The stock was sold at an average price of $28.28, for a total value of $452,480.00.
Following the transaction, the director now owns 49,614 shares of the company’s stock, valued at $1,403,083.92. The disclosure for this sale can be found here .
Insiders own 2.90% of the company’s stock. World Kinect Price Performance NYSE:WKC opened at $30.
81 on Monday. World Kinect Co. has a 52 week low of $17.
69 and a 52 week high of $31.70. The company has a debt-to-equity ratio of 0.
39, a quick ratio of 0.98 and a current ratio of 1.15.
The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 1.
06 and a beta of 1.24. The company has a 50-day moving average of $28.
14 and a 200-day moving average of $26.39. World Kinect ( NYSE:WKC – Get Free Report ) last announced its quarterly earnings results on Thursday, July 25th.
The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.
08). World Kinect had a net margin of 0.29% and a return on equity of 6.
26%. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.
98 billion. During the same period in the prior year, the firm earned $0.48 EPS.
World Kinect’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities research analysts anticipate that World Kinect Co.
will post 2.15 earnings per share for the current fiscal year. World Kinect Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th.
Investors of record on Monday, September 30th will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, September 30th.
This represents a $0.68 dividend on an annualized basis and a yield of 2.21%.
World Kinect’s dividend payout ratio is 73.12%. About World Kinect ( Free Report ) 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. Further Reading Five stocks we like better than World Kinect Best of the list of Dividend Aristocrats: Build wealth with the aristocrat index 3 Bargain Stocks Under $20 With Major Growth Potential Overbought Stocks Explained: Should You Trade Them? Top 5 ETFs to Own Now and Into 2025 Natural Gas Prices Continue To Rally, These Stocks Should Benefit Watch These 3 Former Short-Squeeze Stocks for a Big Rally Want to see what other hedge funds are holding WKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for World Kinect Co.
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