World Kinect (NYSE:WKC) Director Jorge Benitez Sells 5,000 Shares of Company Stock

World Kinect Corporation (NYSE:WKC) Director Jorge Benitez sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $37.98, for a total transaction of $189,900.00. Following the completion of the transaction, the director directly owned 63,924 shares of the company’s stock, valued at approximately $2,427,833.52. This represents a 7.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

World Kinect Stock Performance

Shares of NYSE:WKC traded down $1.01 on Friday, hitting $35.63. 835,044 shares of the company were exchanged, compared to its average volume of 843,320. World Kinect Corporation has a 1-year low of $22.21 and a 1-year high of $41.20. The stock’s 50 day moving average price is $36.08 and its 200 day moving average price is $31.02. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $1.82 billion, a P/E ratio of -12.00, a price-to-earnings-growth ratio of 0.57 and a beta of 1.29.

World Kinect (NYSE:WKC) last released its earnings results on Thursday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.03. The firm had revenue of $13.27 billion for the quarter, compared to the consensus estimate of $12.34 billion. World Kinect had a positive return on equity of 13.63% and a negative net margin of 0.37%. The firm’s revenue was up 41.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS. Sell-side analysts predict that World Kinect Corporation will post 3.58 EPS for the current year.

World Kinect Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Monday, September 28th were issued a $0.23 dividend. The ex-dividend date of this dividend was Monday, September 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.6%. World Kinect’s dividend payout ratio is currently -30.98%.

Wall Street Analyst Weigh In

WKC has been the subject of a number of research reports. Bank of America reaffirmed an “underperform” rating on shares of World Kinect in a report on Monday. Weiss Ratings reiterated a “sell (d)” rating on shares of World Kinect in a report on Monday, October 26th. Zacks Research lowered shares of World Kinect from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Wall Street Zen cut shares of World Kinect from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Morgan Stanley lifted their price objective on shares of World Kinect from $30.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday. One analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Strong Sell” and a consensus target price of $32.00.

Hedge Funds Weigh In On World Kinect

Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its stake in shares of World Kinect by 75.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 203,979 shares of the company’s stock valued at $7,261,000 after purchasing an additional 87,570 shares during the period. R Squared Ltd purchased a new position in World Kinect in the third quarter valued at $286,000. Fifth Third Bancorp increased its holdings in World Kinect by 7.1% in the third quarter. Fifth Third Bancorp now owns 33,583 shares of the company’s stock valued at $1,181,000 after buying an additional 2,212 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in World Kinect by 51.0% in the third quarter. Maryland State Retirement & Pension System now owns 11,259 shares of the company’s stock valued at $396,000 after buying an additional 3,805 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in shares of World Kinect in the third quarter worth about $545,000. 97.06% of the stock is owned by hedge funds and other institutional investors.

World Kinect Company Profile

World Kinect Corporation (NYSE:WKC) is an energy management company that supplies, distributes and manages fuel and other energy products for commercial customers around the world. The company serves the aviation, marine and land transportation sectors, as well as commercial, industrial and government customers.

Its offerings include conventional and renewable fuels, natural gas, electricity, lubricants, fuel-management services and related environmental solutions. World Kinect also provides procurement, logistics, payment-processing and transaction-management services designed to help customers manage energy supply, costs and operational requirements.

The company was founded as World Fuel Services in 1985 and adopted the World Kinect name in 2024.