World Kinect (NYSE:WKC) Chairman Michael Kasbar Sells 19,300 Shares

World Kinect Corporation (NYSE:WKC) Chairman Michael Kasbar sold 19,300 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $30.17, for a total value of $582,281.00. Following the transaction, the chairman owned 1,021,450 shares in the company, valued at $30,817,146.50. The trade was a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

World Kinect Trading Up 3.4%

WKC traded up $1.03 during trading on Tuesday, hitting $31.18. 944,073 shares of the stock were exchanged, compared to its average volume of 851,544. The firm has a 50 day simple moving average of $26.32 and a 200 day simple moving average of $25.41. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -3.05, a P/E/G ratio of 0.61 and a beta of 1.23. World Kinect Corporation has a 1 year low of $22.21 and a 1 year high of $31.21. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 1.05.

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

World Kinect Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Monday, March 30th were issued a $0.20 dividend. The ex-dividend date was Monday, March 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.6%. World Kinect’s dividend payout ratio (DPR) is currently -7.84%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Edgestream Partners L.P. grew its stake in World Kinect by 2.9% during the 1st quarter. Edgestream Partners L.P. now owns 120,060 shares of the company’s stock worth $2,770,000 after buying an additional 3,398 shares during the last quarter. Amundi grew its stake in World Kinect by 87.4% during the 1st quarter. Amundi now owns 24,394 shares of the company’s stock worth $563,000 after buying an additional 11,378 shares during the last quarter. California State Teachers Retirement System grew its stake in World Kinect by 36.2% during the 1st quarter. California State Teachers Retirement System now owns 73,864 shares of the company’s stock worth $1,704,000 after buying an additional 19,622 shares during the last quarter. Royal Bank of Canada grew its stake in World Kinect by 30.4% during the 1st quarter. Royal Bank of Canada now owns 328,662 shares of the company’s stock worth $7,583,000 after buying an additional 76,657 shares during the last quarter. Finally, Quantinno Capital Management LP grew its stake in World Kinect by 51.2% during the 1st quarter. Quantinno Capital Management LP now owns 70,506 shares of the company’s stock worth $1,627,000 after buying an additional 23,889 shares during the last quarter. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WKC. Zacks Research downgraded World Kinect from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Weiss Ratings upgraded World Kinect from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Wall Street Zen upgraded World Kinect from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Morgan Stanley lifted their price target on World Kinect from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average 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.