6,500 Shares in World Kinect Co. (NYSE:WKC) Acquired by EP Wealth Advisors LLC

EP Wealth Advisors LLC purchased a new stake in shares of World Kinect Co. (NYSE:WKC) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,500 shares of the company’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of Montreal Can raised its stake in World Kinect by 6.7% in the 2nd quarter. Bank of Montreal Can now owns 527,404 shares of the company’s stock worth $13,697,000 after acquiring an additional 33,332 shares during the last quarter. Algert Global LLC raised its stake in shares of World Kinect by 88.0% in the third quarter. Algert Global LLC now owns 138,560 shares of the company’s stock worth $4,283,000 after purchasing an additional 64,867 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of World Kinect by 244.6% during the third quarter. Quantbot Technologies LP now owns 86,746 shares of the company’s stock worth $2,681,000 after purchasing an additional 61,572 shares during the period. Principal Financial Group Inc. increased its holdings in World Kinect by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company’s stock worth $41,465,000 after buying an additional 56,952 shares during the period. Finally, Renaissance Technologies LLC raised its position in World Kinect by 76.6% during the 2nd quarter. Renaissance Technologies LLC now owns 139,500 shares of the company’s stock worth $3,599,000 after buying an additional 60,500 shares during the last quarter. 97.06% of the stock is currently owned by institutional investors and hedge funds.

World Kinect Trading Up 0.2 %

Shares of World Kinect stock opened at $28.27 on Friday. The firm has a 50-day simple moving average of $28.79 and a two-hundred day simple moving average of $27.86. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. World Kinect Co. has a fifty-two week low of $21.21 and a fifty-two week high of $31.70. The company has a market cap of $1.64 billion, a P/E ratio of 12.56, a price-to-earnings-growth ratio of 1.12 and a beta of 1.28.

World Kinect (NYSE:WKC) last issued its quarterly 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 company had revenue of $10.49 billion for 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%. World Kinect’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.58 earnings per share. As a group, equities analysts predict that World Kinect Co. will post 2.12 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on WKC. Morgan Stanley downgraded shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a report on Monday, September 16th. Bank of America increased 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. JPMorgan Chase & Co. boosted 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. Finally, Stifel Nicolaus lowered World Kinect from a “buy” rating to a “hold” rating and dropped their target price for the stock from $33.00 to $32.00 in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.20.

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.