US Bancorp DE Has $398,000 Stake in World Kinect Co. (NYSE:WKC)

US Bancorp DE decreased its stake in shares of World Kinect Co. (NYSE:WKC) by 19.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 12,875 shares of the company’s stock after selling 3,033 shares during the period. US Bancorp DE’s holdings in World Kinect were worth $398,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Louisiana State Employees Retirement System grew its holdings in World Kinect by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the company’s stock valued at $779,000 after buying an additional 400 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in World Kinect by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 52,688 shares of the company’s stock valued at $1,394,000 after buying an additional 682 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in World Kinect by 1.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 70,091 shares of the company’s stock valued at $1,808,000 after buying an additional 773 shares during the last quarter. ProShare Advisors LLC grew its holdings in World Kinect by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 12,062 shares of the company’s stock valued at $319,000 after buying an additional 829 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in World Kinect by 20.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,927 shares of the company’s stock valued at $179,000 after buying an additional 1,189 shares during the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Trading Up 1.3 %

Shares of WKC opened at $28.35 on Tuesday. The stock has a fifty day moving average price of $29.39 and a two-hundred day moving average price of $27.19. 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 52-week low of $19.81 and a 52-week high of $31.70. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.09 and a beta of 1.26.

World Kinect (NYSE:WKC) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.62 earnings per share (EPS) 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 firm had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter in the previous year, the company posted $0.58 EPS. The business’s revenue for the quarter was down 14.3% compared to the same quarter last year. Analysts predict that World Kinect Co. will post 2.12 EPS for the current fiscal year.

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

World Kinect Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.40%. World Kinect’s payout ratio is currently 30.22%.

Insider Transactions at World Kinect

In other news, CEO Michael J. Kasbar sold 58,948 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the completion of the sale, the chief executive officer now owns 1,019,063 shares in the company, valued at $28,452,238.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Morgan Stanley lowered 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. Stifel Nicolaus lowered World Kinect from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $33.00 to $32.00 in a report on Friday, October 25th. Bank of America raised their target price 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, JPMorgan Chase & Co. raised their target price on World Kinect from $29.00 to $32.00 and gave the stock a “neutral” rating in a research 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.20.

World Kinect Company 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.