Charles Schwab Investment Management Inc. Buys 4,201 Shares of World Kinect Co. (NYSE:WKC)

Charles Schwab Investment Management Inc. lifted its holdings in shares of World Kinect Co. (NYSE:WKC) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,371,030 shares of the company’s stock after buying an additional 4,201 shares during the quarter. Charles Schwab Investment Management Inc. owned about 2.36% of World Kinect worth $42,379,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in WKC. Bank of Montreal Can boosted its stake in World Kinect by 6.7% during the 2nd quarter. Bank of Montreal Can now owns 527,404 shares of the company’s stock worth $13,697,000 after acquiring an additional 33,332 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of World Kinect by 76.6% during the second quarter. Renaissance Technologies LLC now owns 139,500 shares of the company’s stock worth $3,599,000 after buying an additional 60,500 shares during the period. Principal Financial Group Inc. grew its stake in shares of World Kinect by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company’s stock worth $41,465,000 after acquiring an additional 56,952 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in World Kinect during the 3rd quarter worth about $1,073,000. Finally, American Century Companies Inc. raised its holdings in World Kinect by 11.2% during the second quarter. American Century Companies Inc. now owns 1,133,257 shares of the company’s stock worth $29,238,000 after acquiring an additional 113,711 shares in the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

Analyst Upgrades and Downgrades

WKC has been the topic of several analyst reports. Morgan Stanley lowered shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research report on Monday, September 16th. Stifel Nicolaus cut World Kinect from a “buy” rating to a “hold” rating and dropped their price target for the stock from $33.00 to $32.00 in a report on Friday, October 25th. Bank of America lifted their target price on World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Two investment 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.20.

World Kinect Stock Performance

NYSE:WKC opened at $28.95 on Monday. World Kinect Co. has a fifty-two week low of $20.00 and a fifty-two week high of $31.70. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.12 and a beta of 1.26. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. The stock has a fifty day moving average price of $29.22 and a 200-day moving average price of $27.63.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.62 EPS 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 company had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter in the previous year, the firm earned $0.58 EPS. World Kinect’s revenue was down 14.3% on a year-over-year basis. As a group, equities analysts anticipate that World Kinect Co. will post 2.12 EPS for the current fiscal year.

World Kinect Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were issued a dividend of $0.17 per share. The ex-dividend date was Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.35%. World Kinect’s dividend payout ratio (DPR) is presently 30.22%.

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

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.