World Kinect (NYSE:WKC) Chairman Michael Kasbar Sells 10,000 Shares of Company Stock

World Kinect Corporation (NYSE:WKC) Chairman Michael Kasbar sold 10,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $36.41, for a total transaction of $364,100.00. Following the transaction, the chairman owned 946,450 shares in the company, valued at approximately $34,460,244.50. The trade was a 1.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

World Kinect Stock Down 0.3%

Shares of WKC opened at $37.88 on Thursday. World Kinect Corporation has a 12 month low of $22.21 and a 12 month high of $41.20. The firm’s 50 day moving average is $36.06 and its 200-day moving average is $30.93. The stock has a market capitalization of $1.94 billion, a PE ratio of -12.75, a P/E/G ratio of 0.58 and a beta of 1.29. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.53.

World Kinect (NYSE:WKC) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. The company had revenue of $13.27 billion during the quarter, compared to the consensus estimate of $12.34 billion. World Kinect had a negative net margin of 0.37% and a positive return on equity of 13.63%. The firm’s quarterly revenue was up 41.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 earnings per share. Equities research analysts forecast that World Kinect Corporation will post 3.61 EPS for the current year.

World Kinect Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Monday, September 28th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Monday, September 28th. World Kinect’s dividend payout ratio (DPR) is -30.98%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its stake in World Kinect by 235.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 644,941 shares of the company’s stock worth $14,879,000 after acquiring an additional 452,462 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of World Kinect by 7.6% in the first quarter. Principal Financial Group Inc. now owns 365,120 shares of the company’s stock worth $8,423,000 after acquiring an additional 25,708 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of World Kinect by 30.4% in the first quarter. Royal Bank of Canada now owns 328,662 shares of the company’s stock worth $7,583,000 after acquiring an additional 76,657 shares during the last quarter. Man Group plc acquired a new stake in shares of World Kinect in the 2nd quarter valued at approximately $10,379,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of World Kinect in the 2nd quarter valued at approximately $10,224,000. 97.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on WKC shares. Zacks Research downgraded World Kinect from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Wall Street Zen cut World Kinect from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 10th. Weiss Ratings restated a “sell (d)” rating on shares of World Kinect in a research report on Monday, October 26th. Bank of America reaffirmed an “underperform” rating on shares of World Kinect in a research note on Monday. Finally, Morgan Stanley upped their price objective on shares of World Kinect from $30.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday. One research analyst has rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Strong Sell” and an average target price of $32.00.

About World Kinect

World Kinect Corporation (NYSE:WKC) is an energy management company that supplies, distributes and manages fuel and other energy products for commercial customers around the world. The company serves the aviation, marine and land transportation sectors, as well as commercial, industrial and government customers.

Its offerings include conventional and renewable fuels, natural gas, electricity, lubricants, fuel-management services and related environmental solutions. World Kinect also provides procurement, logistics, payment-processing and transaction-management services designed to help customers manage energy supply, costs and operational requirements.

The company was founded as World Fuel Services in 1985 and adopted the World Kinect name in 2024.