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

World Kinect Corporation (NYSE:WKC) Chairman Michael Kasbar sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $35.40, for a total value of $354,000.00. Following the transaction, the chairman directly owned 966,450 shares of the company’s stock, valued at approximately $34,212,330. The trade was a 1.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

World Kinect Trading Up 0.9%

WKC opened at $35.41 on Friday. The company’s 50 day moving average is $36.24 and its 200-day moving average is $29.88. World Kinect Corporation has a 1-year low of $22.21 and a 1-year high of $41.20. The company has a current ratio of 1.06, a quick ratio of 0.91 and a debt-to-equity ratio of 0.58. The company has a market cap of $1.81 billion, a P/E ratio of -11.03, a PEG ratio of 0.54 and a beta of 1.16.

World Kinect (NYSE:WKC) last released its quarterly earnings data 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 business had revenue of $13.59 billion during the quarter, compared to analysts’ expectations of $10.50 billion. World Kinect had a negative net margin of 0.43% and a positive return on equity of 11.24%. The firm’s quarterly revenue was up 50.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 EPS. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. Equities research analysts predict that World Kinect Corporation will post 3.6 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.6%. This is a boost from World Kinect’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, June 30th. World Kinect’s dividend payout ratio (DPR) is currently -28.66%.

Institutional Trading of World Kinect

A number of large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its stake in shares of World Kinect by 2,393.9% during the 2nd quarter. California State Teachers Retirement System now owns 1,842,104 shares of the company’s stock worth $55,923,000 after purchasing an additional 1,768,240 shares during the last quarter. Millennium Management LLC grew its holdings in World Kinect by 373.8% during the third quarter. Millennium Management LLC now owns 1,602,996 shares of the company’s stock valued at $41,598,000 after purchasing an additional 1,264,684 shares during the period. Brandes Investment Partners LP increased its position in World Kinect by 30.9% in the fourth quarter. Brandes Investment Partners LP now owns 3,845,750 shares of the company’s stock worth $90,106,000 after buying an additional 907,490 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of World Kinect by 235.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 644,941 shares of the company’s stock valued at $14,879,000 after buying an additional 452,462 shares during the period. Finally, Pacer Advisors Inc. bought a new position in shares of World Kinect during the 4th quarter worth $9,427,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

World Kinect Company Profile

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.