Hotchkis & Wiley Capital Management LLC Reduces Position in World Kinect Co. (NYSE:WKC)

Hotchkis & Wiley Capital Management LLC trimmed its holdings in World Kinect Co. (NYSE:WKC) by 7.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 442,661 shares of the company’s stock after selling 34,700 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.76% of World Kinect worth $13,683,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Hara Capital LLC bought a new stake in shares of World Kinect in the third quarter worth approximately $76,000. Innealta Capital LLC purchased a new stake in World Kinect in the second quarter worth approximately $65,000. Everence Capital Management Inc. bought a new stake in World Kinect in the 3rd quarter worth approximately $210,000. Quest Partners LLC raised its stake in World Kinect by 678,100.0% during the 3rd quarter. Quest Partners LLC now owns 6,782 shares of the company’s stock valued at $210,000 after buying an additional 6,781 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of World Kinect by 20.7% during 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 period. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on WKC. JPMorgan Chase & Co. upped their price objective on World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Bank of America upped their price target on shares of World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a research report on Friday, September 13th. 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. Finally, Stifel Nicolaus cut shares of World Kinect from a “buy” rating to a “hold” rating and reduced their target price for the company from $33.00 to $32.00 in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, World Kinect presently has an average rating of “Hold” and a consensus price target of $30.20.

World Kinect Trading Down 0.4 %

Shares of NYSE:WKC opened at $29.22 on Wednesday. The stock has a 50 day moving average of $29.16 and a 200 day moving average of $27.68. The company has a market cap of $1.70 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 1.14 and a beta of 1.28. World Kinect Co. has a 12-month low of $20.00 and a 12-month high of $31.70. 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 (NYSE:WKC) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.62 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 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 previous year, the business earned $0.58 earnings per share. The business’s revenue was down 14.3% on a year-over-year basis. As a group, equities research analysts expect that World Kinect Co. will post 2.12 EPS for the current year.

World Kinect Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th were issued a $0.17 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a yield of 2.33%. World Kinect’s dividend payout ratio is currently 30.22%.

World Kinect declared that its Board of Directors has approved a share repurchase plan on Monday, September 9th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to repurchase up to 11% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

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.