Michael Kasbar Sells 10,000 Shares of World Kinect (NYSE:WKC) Stock

World Kinect Corporation (NYSE:WKC) Chairman Michael Kasbar sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $39.41, for a total transaction of $394,100.00. Following the transaction, the chairman directly owned 976,450 shares of the company’s stock, valued at $38,481,894.50. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

World Kinect Stock Performance

WKC stock traded down $0.55 during trading on Wednesday, hitting $38.55. 1,592,806 shares of the company traded hands, compared to its average volume of 979,881. The stock’s 50-day simple moving average is $33.71 and its 200 day simple moving average is $28.41. World Kinect Corporation has a 1 year low of $22.21 and a 1 year high of $41.20. The company has a market cap of $1.97 billion, a PE ratio of -12.01, a P/E/G ratio of 0.60 and a beta of 1.17. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.06 and a quick ratio of 0.91.

World Kinect (NYSE:WKC) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.54. The company had revenue of $13.59 billion for the quarter, compared to the consensus estimate of $10.50 billion. World Kinect had a positive return on equity of 11.24% and a negative net margin of 0.43%.World Kinect’s revenue for the quarter was up 50.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.59 earnings per share. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. On average, equities analysts expect that World Kinect Corporation will post 3.6 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, June 30th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, June 30th. This is an increase from World Kinect’s previous quarterly dividend of $0.20. World Kinect’s dividend payout ratio is -28.66%.

Institutional Investors Weigh In On World Kinect

Several institutional investors have recently modified their holdings of the company. Cassaday & Co Wealth Management LLC acquired a new position in World Kinect during the first quarter worth $37,000. Aquatic Capital Management LLC acquired a new stake in World Kinect in the third quarter valued at $61,000. Aster Capital Management DIFC Ltd increased its position in shares of World Kinect by 977.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,630 shares of the company’s stock valued at $62,000 after buying an additional 2,386 shares in the last quarter. Clearstead Advisors LLC raised its stake in shares of World Kinect by 108.8% during the 4th quarter. Clearstead Advisors LLC now owns 2,633 shares of the company’s stock worth $62,000 after buying an additional 1,372 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of World Kinect during the 2nd quarter worth $96,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Analyst Ratings Changes

WKC has been the subject of several research reports. Weiss Ratings downgraded shares of World Kinect from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, July 28th. Wall Street Zen raised shares of World Kinect from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Morgan Stanley set a $30.00 price objective on World Kinect in a research note on Wednesday, July 29th. Finally, Zacks Research upgraded shares of World Kinect from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, World Kinect has a consensus rating of “Hold” and an average target price of $30.00.

About World Kinect

World Kinect Energy Services, Inc (NYSE: WKC) is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.