World Kinect (NYSE:WKC) Stock Rating Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of World Kinect (NYSE:WKC) from a buy rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

A number of other equities analysts also recently commented on WKC. Zacks Research downgraded shares of World Kinect from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Weiss Ratings restated a “sell (d)” rating on shares of World Kinect in a research note on Monday, October 26th. Bank of America restated an “underperform” rating on shares of World Kinect in a research note on Monday, November 2nd. Finally, Morgan Stanley lifted their price target on World Kinect from $30.00 to $32.00 and gave the stock an “underweight” rating in a report on Tuesday, November 3rd. One investment analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Strong Sell” and an average target price of $32.00.

World Kinect Stock Down 2.8%

Shares of World Kinect stock opened at $35.63 on Friday. World Kinect has a 52-week low of $22.21 and a 52-week high of $41.20. The company has a 50 day moving average of $36.08 and a 200 day moving average of $31.02. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $1.82 billion, a P/E ratio of -12.00, a P/E/G ratio of 0.55 and a beta of 1.29.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.96 by $0.03. World Kinect had a negative net margin of 0.37% and a positive return on equity of 13.63%. The company had revenue of $13.27 billion during the quarter, compared to analysts’ expectations of $12.34 billion. During the same quarter in the previous year, the business posted $0.54 EPS. The firm’s revenue was up 41.3% on a year-over-year basis. As a group, research analysts forecast that World Kinect will post 3.58 EPS for the current fiscal year.

World Kinect Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Monday, September 28th were issued a $0.23 dividend. The ex-dividend date was Monday, September 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.6%. World Kinect’s dividend payout ratio is presently -30.98%.

Insider Activity

In related news, Director Jorge L. Benitez sold 13,000 shares of World Kinect stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $36.56, for a total transaction of $475,280.00. Following the sale, the director directly owned 50,924 shares in the company, valued at $1,861,781.44. This trade represents a 20.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jose-Miguel Tejada sold 6,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $37.16, for a total transaction of $222,960.00. Following the completion of the sale, the executive vice president directly owned 35,676 shares of the company’s stock, valued at approximately $1,325,720.16. This trade represents a 14.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 54,000 shares of company stock worth $1,962,940. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On World Kinect

Several hedge funds have recently made changes to their positions in WKC. 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 valued at $14,879,000 after purchasing an additional 452,462 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of World Kinect by 7.6% in the 1st quarter. Principal Financial Group Inc. now owns 365,120 shares of the company’s stock valued at $8,423,000 after purchasing an additional 25,708 shares during the period. 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. Man Group plc purchased a new position in World Kinect during the 2nd quarter worth approximately $10,379,000. Finally, Bank of New York Mellon Corp purchased a new position in World Kinect during the 2nd quarter worth approximately $10,224,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

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.