Hara Capital LLC Takes $76,000 Position in World Kinect Co. (NYSE:WKC)

Hara Capital LLC acquired a new position in World Kinect Co. (NYSE:WKC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,458 shares of the company’s stock, valued at approximately $76,000.

A number of other institutional investors and hedge funds have also bought and sold shares of WKC. Allspring Global Investments Holdings LLC increased its stake in shares of World Kinect by 891.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 13,926 shares of the company’s stock valued at $368,000 after buying an additional 12,522 shares during the period. Texas Permanent School Fund Corp increased its position in World Kinect by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 52,688 shares of the company’s stock valued at $1,394,000 after purchasing an additional 682 shares during the period. LSV Asset Management lifted its position in shares of World Kinect by 2.0% in the 1st quarter. LSV Asset Management now owns 1,180,681 shares of the company’s stock worth $31,229,000 after purchasing an additional 22,869 shares during the period. Quantbot Technologies LP boosted its stake in shares of World Kinect by 105.3% in the 1st quarter. Quantbot Technologies LP now owns 42,408 shares of the company’s stock valued at $1,122,000 after purchasing an additional 21,755 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of World Kinect by 8.7% during the first quarter. Empowered Funds LLC now owns 244,062 shares of the company’s stock worth $6,455,000 after buying an additional 19,449 shares during the period. 97.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at World Kinect

In other World Kinect news, CEO Michael J. Kasbar sold 58,948 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were 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 directly owns 1,019,063 shares of the company’s stock, valued at approximately $28,452,238.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is currently owned by company insiders.

World Kinect Price Performance

Shares of NYSE WKC opened at $28.25 on Friday. The firm has a market capitalization of $1.64 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.02 and a beta of 1.26. The firm’s 50-day moving average price is $29.41 and its 200-day moving average price is $27.14. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. World Kinect Co. has a 1-year low of $19.72 and a 1-year high of $31.70.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.62 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.62. World Kinect had a return on equity of 6.29% and a net margin of 0.30%. The business 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 earned $0.58 EPS. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. Equities research analysts anticipate 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 purchase up to 11% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

World Kinect Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.41%. The ex-dividend date was Monday, September 30th. World Kinect’s payout ratio is currently 30.22%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WKC. 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 report on Monday, September 16th. 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 research note on Thursday, September 19th. 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 note on Friday, September 13th. Finally, Stifel Nicolaus lowered World Kinect from a “buy” rating to a “hold” rating and dropped their price target for the company from $33.00 to $32.00 in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $30.20.

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.