World Kinect Co. (NYSE:WKC) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its holdings in shares of World Kinect Co. (NYSE:WKC) by 11.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 146,707 shares of the company’s stock after selling 19,271 shares during the quarter. Franklin Resources Inc. owned about 0.25% of World Kinect worth $4,495,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of World Kinect during the third quarter valued at about $31,000. Geode Capital Management LLC increased its stake in World Kinect by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company’s stock valued at $42,358,000 after buying an additional 22,077 shares during the period. Barclays PLC increased its stake in World Kinect by 18.6% during the 3rd quarter. Barclays PLC now owns 256,126 shares of the company’s stock valued at $7,918,000 after buying an additional 40,233 shares during the period. EP Wealth Advisors LLC bought a new stake in shares of World Kinect during the 3rd quarter worth about $201,000. Finally, Stifel Financial Corp acquired a new stake in shares of World Kinect in the 3rd quarter worth approximately $485,000. Institutional investors own 97.06% of the company’s stock.

World Kinect Price Performance

NYSE WKC opened at $26.80 on Tuesday. World Kinect Co. has a 1 year low of $21.21 and a 1 year high of $31.70. The business’s fifty day moving average is $28.42 and its two-hundred day moving average is $27.93. The stock has a market capitalization of $1.56 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.12 and a beta of 1.28. 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 (NYSE:WKC) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the prior year, the business posted $0.58 earnings per share. World Kinect’s revenue was down 14.3% compared to the same quarter last year. On average, research analysts forecast that World Kinect Co. will post 2.12 earnings per share for the current fiscal year.

World Kinect declared that its board has approved a share repurchase program on Monday, September 9th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to reacquire up to 11% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

World Kinect Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Monday, December 23rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Monday, December 23rd. World Kinect’s dividend payout ratio (DPR) is currently 30.22%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Morgan Stanley lowered 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 research note on Monday, September 16th. Stifel Nicolaus cut World Kinect from a “buy” rating to a “hold” rating and lowered their price target for the company from $33.00 to $32.00 in a research report on Friday, October 25th. Bank of America upped their price objective on World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. lifted their target price on World Kinect from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.