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 on Wednesday, September 2nd. The shares were sold at an average price of $35.40, for a total value of $354,000.00. Following the completion of the transaction, the chairman owned 966,450 shares of the company’s stock, valued at approximately $34,212,330. This represents a 1.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

World Kinect Price Performance

World Kinect stock opened at $35.41 on Friday. World Kinect Corporation has a 52 week low of $22.21 and a 52 week high of $41.20. The company has a quick ratio of 0.91, a current ratio of 1.06 and a debt-to-equity ratio of 0.58. The firm’s 50-day simple moving average is $36.24 and its 200 day simple moving average is $29.88. The firm has a market capitalization of $1.81 billion, a PE ratio of -11.03, a P/E/G ratio of 0.54 and a beta of 1.16.

World Kinect (NYSE:WKC) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.54. The firm had revenue of $13.59 billion for 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 revenue was up 50.3% on a year-over-year basis. 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. On average, equities research analysts predict that World Kinect Corporation will post 3.6 EPS for the current fiscal year.

World Kinect Increases Dividend

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

Institutional Trading of World Kinect

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC acquired a new position in World Kinect in the 1st quarter valued at $37,000. Aquatic Capital Management LLC acquired a new stake in shares of World Kinect during the third quarter worth $61,000. Clearstead Advisors LLC grew its position in shares of World Kinect by 108.8% in the fourth quarter. Clearstead Advisors LLC now owns 2,633 shares of the company’s stock valued at $62,000 after purchasing an additional 1,372 shares during the period. Aster Capital Management DIFC Ltd grew 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 purchasing an additional 2,386 shares during the period. Finally, Transamerica Financial Advisors LLC acquired a new position in World Kinect in the second quarter valued at $73,000. 97.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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