Michael Kasbar Sells 19,300 Shares of World Kinect (NYSE:WKC) Stock

World Kinect Corporation (NYSE:WKC) Chairman Michael Kasbar sold 19,300 shares of World Kinect stock in a transaction on Monday, June 8th. The shares were sold at an average price of $30.17, for a total value of $582,281.00. Following the completion of the transaction, the chairman owned 1,021,450 shares in the company, valued at $30,817,146.50. The trade was a 1.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

World Kinect Price Performance

Shares of World Kinect stock opened at $31.41 on Thursday. World Kinect Corporation has a twelve month low of $22.21 and a twelve month high of $31.89. The stock has a market capitalization of $1.61 billion, a P/E ratio of -3.08, a PEG ratio of 0.64 and a beta of 1.22. The company has a current ratio of 1.05, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65. The business’s fifty day moving average price is $26.65 and its 200 day moving average price is $25.52.

World Kinect (NYSE:WKC) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. The company had revenue of $9.69 billion for the quarter, compared to analysts’ expectations of $9.29 billion. World Kinect had a positive return on equity of 8.27% and a negative net margin of 1.53%.The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 earnings per share. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS. As a group, research analysts anticipate that World Kinect Corporation will post 2.79 earnings per share for the current year.

World Kinect Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Monday, March 30th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, March 30th. World Kinect’s payout ratio is currently -7.84%.

Institutional Trading of World Kinect

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Edgestream Partners L.P. increased its position in shares of World Kinect by 2.9% during the first quarter. Edgestream Partners L.P. now owns 120,060 shares of the company’s stock worth $2,770,000 after acquiring an additional 3,398 shares during the last quarter. Amundi increased its position in shares of World Kinect by 87.4% during the first quarter. Amundi now owns 24,394 shares of the company’s stock worth $563,000 after acquiring an additional 11,378 shares during the last quarter. California State Teachers Retirement System increased its position in shares of World Kinect by 36.2% during the first quarter. California State Teachers Retirement System now owns 73,864 shares of the company’s stock worth $1,704,000 after acquiring an additional 19,622 shares during the last quarter. Royal Bank of Canada increased its position in shares of World Kinect by 30.4% during 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. Finally, Quantinno Capital Management LP increased its position in shares of World Kinect by 51.2% during the first quarter. Quantinno Capital Management LP now owns 70,506 shares of the company’s stock worth $1,627,000 after acquiring an additional 23,889 shares during the last quarter. 97.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Weiss Ratings upgraded World Kinect from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 14th. Zacks Research cut World Kinect from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Morgan Stanley boosted their price objective on World Kinect from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen upgraded World Kinect from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. One 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 data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $29.50.

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.