Hara Capital LLC Makes New Investment in World Kinect Co. (NYSE:WKC)

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

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake 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 valued at $41,465,000 after purchasing an additional 56,952 shares during the period. QRG Capital Management Inc. bought a new stake in shares of World Kinect in the third quarter valued at about $434,000. Janney Montgomery Scott LLC acquired a new position in shares of World Kinect in the third quarter valued at about $1,887,000. Pinnacle Associates Ltd. bought a new position in World Kinect during the third quarter worth about $1,523,000. Finally, Highland Capital Management LLC acquired a new stake in World Kinect in the 3rd quarter worth about $253,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

Analyst Ratings Changes

WKC has been the topic of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of World Kinect from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Bank of America raised their price objective on World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a research note on Friday, September 13th. Morgan Stanley downgraded World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a research report on Monday, September 16th. Finally, Stifel Nicolaus lowered World Kinect from a “buy” rating to a “hold” rating and reduced their target price for the stock from $33.00 to $32.00 in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.20.

World Kinect Stock Down 1.3 %

Shares of WKC opened at $28.25 on Friday. The firm has a 50 day simple moving average of $29.41 and a two-hundred day simple moving average of $27.14. The company has a market cap 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. World Kinect Co. has a one year low of $19.72 and a one year high of $31.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99.

World Kinect (NYSE:WKC) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.62 earnings per share for the quarter, hitting 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 company earned $0.58 EPS. World Kinect’s revenue for the quarter was down 14.3% on a year-over-year basis. Research analysts forecast that World Kinect Co. will post 2.12 EPS for the current fiscal year.

World Kinect Announces Dividend

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

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

Insider Buying and Selling

In other World Kinect news, CEO Michael J. Kasbar sold 58,948 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,019,063 shares in the company, valued at $28,452,238.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.90% of the stock is owned by corporate insiders.

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.