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 firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $39.41, for a total value of $394,100.00. Following the sale, the chairman owned 976,450 shares of the company’s stock, valued at approximately $38,481,894.50. This trade represents a 1.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

World Kinect Price Performance

WKC stock opened at $37.29 on Friday. The stock’s 50 day moving average is $34.08 and its two-hundred day moving average is $28.55. World Kinect Corporation has a 52-week low of $22.21 and a 52-week high of $41.20. The company has a market capitalization of $1.91 billion, a PE ratio of -11.62, a P/E/G ratio of 0.59 and a beta of 1.17. The company has a quick ratio of 0.91, a current ratio of 1.06 and a debt-to-equity ratio of 0.58.

World Kinect (NYSE:WKC) last released its earnings results on Thursday, July 23rd. The company reported $1.29 EPS for the quarter, beating the consensus estimate 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 positive return on equity of 11.24% and a negative net margin of 0.43%.The business’s revenue was up 50.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 EPS. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. Analysts predict that World Kinect Corporation will post 3.6 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.23 per share. This is a positive change from World Kinect’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, June 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.5%. World Kinect’s payout ratio is currently -28.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of World Kinect from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Zacks Research upgraded World Kinect from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings lowered World Kinect from a “hold (c-)” rating to a “sell (d)” rating in a report on Tuesday, July 28th. Finally, Morgan Stanley set a $30.00 price objective on World Kinect in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, World Kinect currently has a consensus rating of “Hold” and an average price target of $30.00.

Institutional Trading of World Kinect

A number of institutional investors and hedge funds have recently modified their holdings of WKC. Millennium Management LLC boosted its stake in World Kinect by 373.8% in the third quarter. Millennium Management LLC now owns 1,602,996 shares of the company’s stock valued at $41,598,000 after acquiring an additional 1,264,684 shares during the period. Brandes Investment Partners LP raised its position 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 worth $90,106,000 after purchasing an additional 907,490 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of World Kinect by 235.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 644,941 shares of the company’s stock worth $14,879,000 after purchasing an additional 452,462 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of World Kinect in the 4th quarter worth approximately $9,427,000. Finally, Qube Research & Technologies Ltd boosted its position in World Kinect by 119.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 702,367 shares of the company’s stock valued at $18,226,000 after purchasing an additional 382,340 shares during the period. 97.06% of the stock is owned by institutional investors and hedge funds.

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.