Michael Kasbar Sells 700 Shares of World Kinect (NYSE:WKC) Stock

World Kinect Corporation (NYSE:WKC) Chairman Michael Kasbar sold 700 shares of World Kinect stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $30.00, for a total value of $21,000.00. Following the sale, the chairman directly owned 1,040,750 shares of the company’s stock, valued at approximately $31,222,500. The trade was a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

World Kinect Stock Performance

NYSE:WKC opened at $31.41 on Thursday. The stock has a market cap of $1.61 billion, a P/E ratio of -3.08, a PEG ratio of 0.64 and a beta of 1.22. The stock has a 50 day simple moving average of $26.65 and a 200 day simple moving average of $25.52. The company has a current ratio of 1.05, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65. World Kinect Corporation has a 1-year low of $22.21 and a 1-year high of $31.89.

World Kinect (NYSE:WKC) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.44. The business had revenue of $9.69 billion during 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 for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.48 EPS. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS. Research analysts anticipate that World Kinect Corporation will post 2.79 earnings per share for the current year.

World Kinect Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Monday, March 30th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, March 30th. World Kinect’s dividend payout ratio (DPR) is presently -7.84%.

Hedge Funds Weigh In On World Kinect

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Numerai GP LLC acquired a new position in World Kinect in the 3rd quarter valued at $2,557,000. American Century Companies Inc. increased its stake in shares of World Kinect by 64.1% in the 3rd quarter. American Century Companies Inc. now owns 1,042,766 shares of the company’s stock valued at $27,060,000 after purchasing an additional 407,225 shares during the last quarter. LSV Asset Management increased its stake in shares of World Kinect by 6.3% in the 3rd quarter. LSV Asset Management now owns 1,740,728 shares of the company’s stock valued at $45,172,000 after purchasing an additional 103,489 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in shares of World Kinect in the 4th quarter valued at $413,000. Finally, GSA Capital Partners LLP increased its stake in shares of World Kinect by 98.6% in the 4th quarter. GSA Capital Partners LLP now owns 96,774 shares of the company’s stock valued at $2,267,000 after purchasing an additional 48,048 shares during the last quarter. 97.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WKC shares. Wall Street Zen raised World Kinect from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings raised World Kinect from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Zacks Research cut World Kinect from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, Morgan Stanley lifted their price objective on World Kinect from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $29.50.

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.