Jupiter Topco LLC Purchases Shares of 18,239 World Kinect Corporation $WKC

Jupiter Topco LLC purchased a new position in shares of World Kinect Corporation (NYSE:WKC) during the second quarter, Holdings Channel.com reports. The fund purchased 18,239 shares of the company’s stock, valued at approximately $601,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of WKC. Cassaday & Co Wealth Management LLC acquired a new stake in World Kinect in the 1st quarter worth approximately $37,000. Aquatic Capital Management LLC acquired a new stake in shares of World Kinect during the third quarter worth $61,000. Clearstead Advisors LLC increased its position in shares of World Kinect by 108.8% in the 4th quarter. Clearstead Advisors LLC now owns 2,633 shares of the company’s stock valued at $62,000 after acquiring an additional 1,372 shares during the period. Aster Capital Management DIFC Ltd raised its stake in World Kinect by 977.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,630 shares of the company’s stock worth $62,000 after acquiring an additional 2,386 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in World Kinect during the 2nd quarter worth about $96,000. 97.06% of the stock is owned by hedge funds and other institutional investors.

World Kinect Stock Performance

WKC opened at $35.41 on Monday. The firm has a fifty day moving average price of $36.24 and a 200 day moving average price of $29.90. World Kinect Corporation has a 1 year low of $22.21 and a 1 year high of $41.20. The stock has a market cap of $1.81 billion, a P/E ratio of -11.03, a P/E/G ratio of 0.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.06 and a quick ratio of 0.91.

World Kinect (NYSE:WKC) last released its quarterly earnings data on Thursday, July 23rd. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.54. The company had revenue of $13.59 billion during the quarter, compared to analysts’ expectations of $10.50 billion. World Kinect had a negative net margin of 0.43% and a positive return on equity of 11.24%. The firm’s revenue for the quarter was up 50.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 earnings per share. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. Equities research analysts anticipate that World Kinect Corporation will post 3.6 earnings per share for the current year.

World Kinect Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, June 30th were paid a $0.23 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.6%. This is a boost from World Kinect’s previous quarterly dividend of $0.20. World Kinect’s dividend payout ratio (DPR) is presently -28.66%.

Wall Street Analysts Forecast Growth

WKC has been the subject of a number of research reports. Wall Street Zen downgraded World Kinect from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. Zacks Research upgraded shares of World Kinect from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Morgan Stanley set a $30.00 price objective on shares of World Kinect in a research note on Wednesday, July 29th. Finally, Weiss Ratings cut shares of World Kinect from a “hold (c-)” rating to a “sell (d)” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.00.

Insiders Place Their Bets

In related news, Chairman Michael Kasbar sold 25,000 shares of the company’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $35.04, for a total value of $876,000.00. Following the completion of the transaction, the chairman owned 986,450 shares of the company’s stock, valued at approximately $34,565,208. This represents a 2.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jose-Miguel Tejada sold 6,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $37.16, for a total value of $222,960.00. Following the transaction, the executive vice president owned 35,676 shares in the company, valued at $1,325,720.16. This represents a 14.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 104,445 shares of company stock worth $3,915,119 in the last 90 days. 3.80% of the stock is currently owned by company insiders.

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.