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 Tuesday, June 2nd. The shares were sold at an average price of $29.15, for a total value of $291,500.00. Following the completion of the sale, the chairman directly owned 1,041,450 shares in the company, valued at approximately $30,358,267.50. The trade was a 0.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

World Kinect Stock Up 0.4%

Shares of WKC opened at $29.84 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65. World Kinect Corporation has a 12 month low of $22.21 and a 12 month high of $30.02. The stock’s 50 day moving average is $26.19 and its two-hundred day moving average is $25.35. The firm has a market cap of $1.53 billion, a P/E ratio of -2.92, a PEG ratio of 0.61 and a beta of 1.22.

World Kinect (NYSE:WKC) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.31 by $0.44. The company had revenue of $9.69 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS. Analysts predict that World Kinect Corporation will post 2.79 earnings per share for the current fiscal year.

World Kinect Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Monday, March 30th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.7%. World Kinect’s payout ratio is currently -7.84%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WKC shares. Wall Street Zen raised World Kinect from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Morgan Stanley lifted their price target on World Kinect from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 5th. Zacks Research lowered World Kinect from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, Weiss Ratings raised World Kinect from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $29.50.

Institutional Investors Weigh In On World Kinect

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. raised its position in World Kinect by 282.7% in the third quarter. Hantz Financial Services Inc. now owns 1,286 shares of the company’s stock valued at $33,000 after purchasing an additional 950 shares during the period. Clearstead Advisors LLC raised its position in World Kinect by 52.8% in the third quarter. Clearstead Advisors LLC now owns 1,261 shares of the company’s stock valued at $33,000 after purchasing an additional 436 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in shares of World Kinect in the 1st quarter valued at $37,000. Aquatic Capital Management LLC purchased a new stake in shares of World Kinect in the 3rd quarter valued at $61,000. Finally, Aster Capital Management DIFC Ltd raised its holdings in shares of World Kinect by 977.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,630 shares of the company’s stock valued at $62,000 after buying an additional 2,386 shares during the period. Hedge funds and other institutional investors own 97.06% of the company’s stock.

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.