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 business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $33.38, for a total transaction of $333,800.00. Following the transaction, the chairman directly owned 1,011,450 shares of the company’s stock, valued at $33,762,201. The trade was a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

World Kinect Stock Performance

Shares of NYSE:WKC traded up $0.01 during trading hours on Tuesday, hitting $33.18. The stock had a trading volume of 810,679 shares, compared to its average volume of 897,117. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 1.05. The stock’s fifty day simple moving average is $29.78 and its 200 day simple moving average is $26.58. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -3.25, a PEG ratio of 0.68 and a beta of 1.19. World Kinect Corporation has a 1-year low of $22.21 and a 1-year high of $33.95.

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 firm had revenue of $9.69 billion for the quarter, compared to analysts’ expectations 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 was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS. Sell-side analysts anticipate that World Kinect Corporation will post 2.79 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.23 per share. This is an increase from World Kinect’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, June 30th. World Kinect’s dividend payout ratio (DPR) is presently -9.01%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On World Kinect

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in World Kinect by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 6,713,507 shares of the company’s stock valued at $157,297,000 after acquiring an additional 62,111 shares during the last quarter. Brandes Investment Partners LP grew its stake in shares of World Kinect by 30.9% in the 4th quarter. Brandes Investment Partners LP now owns 3,845,750 shares of the company’s stock worth $90,106,000 after purchasing an additional 907,490 shares during the last quarter. Invesco Ltd. raised its holdings in shares of World Kinect by 9.5% in the 3rd quarter. Invesco Ltd. now owns 2,450,762 shares of the company’s stock worth $63,597,000 after purchasing an additional 213,145 shares in the last quarter. LSV Asset Management lifted its stake in World Kinect by 11.4% during the fourth quarter. LSV Asset Management now owns 1,938,804 shares of the company’s stock valued at $45,426,000 after purchasing an additional 198,076 shares during the last quarter. Finally, Millennium Management LLC lifted its stake 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 last quarter. 97.06% of the stock is currently owned by institutional investors.

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.