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 that occurred on Thursday, July 2nd. The stock was sold at an average price of $33.38, for a total value of $333,800.00. Following the transaction, the chairman directly owned 1,011,450 shares in the company, valued at $33,762,201. This trade represents a 0.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

World Kinect Trading Up 2.0%

NYSE WKC opened at $33.78 on Thursday. The company has a market cap of $1.73 billion, a PE ratio of -3.31, a PEG ratio of 0.68 and a beta of 1.19. 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 12 month low of $22.21 and a 12 month high of $33.95. The stock has a 50 day moving average of $30.08 and a 200-day moving average of $26.71.

World Kinect (NYSE:WKC) last issued its earnings results on Thursday, April 23rd. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. World Kinect had a negative net margin of 1.53% and a positive return on equity of 8.27%. The business had revenue of $9.69 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the previous year, the company earned $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. On average, equities research analysts anticipate that World Kinect Corporation will post 2.79 EPS for the current fiscal year.

World Kinect Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Tuesday, June 30th will be paid a $0.23 dividend. This is an increase from World Kinect’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, June 30th. This represents a $0.92 annualized dividend and a yield of 2.7%. World Kinect’s dividend payout ratio (DPR) is -9.01%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On World Kinect

A number of hedge funds have recently added to or reduced their stakes in WKC. Vanguard Group Inc. lifted its position in shares of World Kinect by 0.9% during 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 period. Brandes Investment Partners LP increased its position in shares of World Kinect by 30.9% in the fourth 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 period. Invesco Ltd. raised its stake in World Kinect by 9.5% in the third 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 position in World Kinect by 11.4% during the fourth quarter. LSV Asset Management now owns 1,938,804 shares of the company’s stock worth $45,426,000 after purchasing an additional 198,076 shares during the period. Finally, Millennium Management LLC grew 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 worth $41,598,000 after buying an additional 1,264,684 shares in the last quarter. Institutional investors own 97.06% of the company’s stock.

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.