World Kinect (NYSE:WKC) Chairman Sells $333,800.00 in Stock

World Kinect Corporation (NYSE:WKC) Chairman Michael Kasbar sold 10,000 shares of the company’s stock in a transaction 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 sale, the chairman owned 1,011,450 shares of the company’s stock, valued at approximately $33,762,201. This represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

World Kinect Stock Performance

World Kinect stock opened at $34.38 on Friday. World Kinect Corporation has a 12-month low of $22.21 and a 12-month high of $34.92. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 0.65. The business’s 50-day moving average price is $30.23 and its two-hundred day moving average price is $26.79. The stock has a market cap of $1.77 billion, a PE ratio of -3.37, a P/E/G ratio of 0.69 and a beta of 1.19.

World Kinect (NYSE:WKC) last posted its earnings results 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 negative net margin of 1.53% and a positive return on equity of 8.27%. The firm had revenue of $9.69 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS. As a group, analysts expect that World Kinect Corporation will post 2.79 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Tuesday, June 30th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.7%. This is a positive change from World Kinect’s previous quarterly dividend of $0.20. World Kinect’s dividend payout ratio is currently -9.01%.

Analysts Set New Price Targets

A number of brokerages have weighed in on WKC. Morgan Stanley raised their target price on shares of World Kinect from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Tuesday, May 5th. Weiss Ratings upgraded shares of World Kinect from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 29th. Zacks Research cut World Kinect from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Wall Street Zen raised World Kinect from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, World Kinect has an average rating of “Hold” and a consensus target price of $29.50.

Institutional Investors Weigh In On World Kinect

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in World Kinect by 2.2% in the 1st quarter. Royal Bank of Canada now owns 68,228 shares of the company’s stock valued at $1,934,000 after acquiring an additional 1,481 shares during the period. AQR Capital Management LLC lifted its holdings in shares of World Kinect by 16.5% during the first quarter. AQR Capital Management LLC now owns 119,198 shares of the company’s stock worth $3,380,000 after purchasing an additional 16,874 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of World Kinect by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,972 shares of the company’s stock worth $963,000 after purchasing an additional 1,497 shares during the period. Millennium Management LLC lifted its holdings in shares of World Kinect by 3.3% during the first quarter. Millennium Management LLC now owns 525,697 shares of the company’s stock worth $14,909,000 after purchasing an additional 16,738 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of World Kinect by 18.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,791 shares of the company’s stock worth $6,262,000 after purchasing an additional 34,807 shares during the last quarter. 97.06% of the stock is currently owned by institutional investors and hedge funds.

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.