Flax Pond Capital LLC Takes $645,000 Position in World Kinect Corporation $WKC

Flax Pond Capital LLC acquired a new position in World Kinect Corporation (NYSE:WKC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,544 shares of the company’s stock, valued at approximately $645,000. Flax Pond Capital LLC owned about 0.05% of World Kinect as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in World Kinect by 0.9% in the fourth 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 raised its holdings in shares of World Kinect by 30.9% during the 4th quarter. Brandes Investment Partners LP now owns 3,845,750 shares of the company’s stock valued at $90,106,000 after purchasing an additional 907,490 shares in the last quarter. Invesco Ltd. raised its holdings in shares of World Kinect by 9.5% during the 3rd quarter. Invesco Ltd. now owns 2,450,762 shares of the company’s stock valued at $63,597,000 after purchasing an additional 213,145 shares in the last quarter. LSV Asset Management lifted its stake in shares of World Kinect by 11.4% in the 4th 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 shares of World Kinect by 373.8% in the 3rd 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. Institutional investors and hedge funds own 97.06% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Michael J. Kasbar sold 23,653 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $28.18, for a total value of $666,541.54. Following the sale, the chairman owned 1,062,797 shares in the company, valued at approximately $29,949,619.46. This trade represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Michael John Kroll sold 2,100 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $27.30, for a total transaction of $57,330.00. Following the transaction, the chief accounting officer directly owned 10,390 shares in the company, valued at $283,647. This trade represents a 16.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 97,928 shares of company stock valued at $2,773,265 in the last three months. 3.80% of the stock is owned by corporate insiders.

World Kinect Stock Down 0.2%

WKC stock opened at $31.04 on Friday. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -3.04, a price-to-earnings-growth ratio of 0.64 and a beta of 1.22. The company has a 50-day moving average of $27.75 and a two-hundred day moving average of $25.88. World Kinect Corporation has a 52-week low of $22.21 and a 52-week high of $32.24. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.05 and a quick ratio of 0.87.

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

World Kinect Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Tuesday, June 30th will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.92 annualized dividend and a yield of 3.0%. This is an increase from World Kinect’s previous quarterly dividend of $0.20. World Kinect’s dividend payout ratio (DPR) is presently -7.84%.

Analysts Set New Price Targets

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