Michael Kasbar Sells 25,000 Shares of World Kinect (NYSE:WKC) Stock

World Kinect Corporation (NYSE:WKC) Chairman Michael Kasbar sold 25,000 shares of the stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $35.04, for a total transaction of $876,000.00. Following the completion of the transaction, the chairman directly owned 986,450 shares in the company, valued at approximately $34,565,208. This represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

World Kinect Trading Up 1.4%

Shares of WKC stock opened at $36.91 on Thursday. World Kinect Corporation has a 12-month low of $22.21 and a 12-month high of $37.03. The company has a market capitalization of $1.90 billion, a PE ratio of -3.61, a price-to-earnings-growth ratio of 0.74 and a beta of 1.19. The firm has a 50 day moving average price of $30.95 and a two-hundred day moving average price of $27.15. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 0.65.

World Kinect (NYSE:WKC) last posted its earnings results on Thursday, April 23rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.31 by $0.44. The company had revenue of $9.69 billion for the quarter, compared to the consensus estimate of $9.29 billion. World Kinect had a positive return on equity of 8.27% and a negative net margin of 1.53%.The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 earnings per share. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS. As a group, analysts predict that World Kinect Corporation will post 2.79 earnings per share for the current year.

World Kinect Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Tuesday, June 30th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.5%. This is a positive change from World Kinect’s previous quarterly dividend of $0.20. World Kinect’s payout ratio is currently -9.01%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Cassaday & Co Wealth Management LLC bought a new stake in World Kinect during the first quarter worth about $37,000. Aquatic Capital Management LLC bought a new stake in shares of World Kinect during the 3rd quarter worth approximately $61,000. Clearstead Advisors LLC boosted its position 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 acquiring an additional 1,372 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its position in shares of World Kinect by 977.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,630 shares of the company’s stock worth $62,000 after acquiring an additional 2,386 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in World Kinect in the second quarter valued at approximately $96,000. Institutional investors own 97.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WKC shares. Zacks Research cut shares of World Kinect from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Wall Street Zen raised shares of World Kinect from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings upgraded shares of World Kinect from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Finally, Morgan Stanley boosted their price objective on shares of World Kinect from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, World Kinect currently has an average rating of “Hold” and a consensus price target of $29.50.

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.