World Kinect (NYSE:WKC) Stock: Insider Jorge Benitez Sells 13,000 Shares

World Kinect Corporation (NYSE:WKC) Director Jorge Benitez sold 13,000 shares of the stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $36.56, for a total value of $475,280.00. Following the transaction, the director directly owned 50,924 shares in the company, valued at approximately $1,861,781.44. This represents a 20.34% 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 Stock Performance

Shares of NYSE WKC opened at $35.63 on Friday. The business’s 50-day simple moving average is $36.08 and its 200-day simple moving average is $31.02. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.87 and a current ratio of 1.04. World Kinect Corporation has a 52 week low of $22.21 and a 52 week high of $41.20. The firm has a market cap of $1.82 billion, a price-to-earnings 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 earnings results on Thursday, October 29th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.03. The firm had revenue of $13.27 billion during the quarter, compared to analyst estimates of $12.34 billion. World Kinect had a positive return on equity of 13.63% and a negative net margin of 0.37%. The company’s revenue for the quarter was up 41.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS. As a group, equities research analysts expect that World Kinect Corporation will post 3.58 earnings per share for the current fiscal year.

World Kinect Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Monday, September 28th were given a $0.23 dividend. The ex-dividend date of this dividend was Monday, September 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.6%. World Kinect’s dividend payout ratio (DPR) is currently -30.98%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in WKC. GSA Capital Partners LLP bought a new position in World Kinect in the 2nd quarter valued at $2,346,000. Man Group plc bought a new stake in shares of World Kinect during the second quarter worth $10,379,000. Bank of New York Mellon Corp bought a new stake in shares of World Kinect during the second quarter worth $10,224,000. Empowered Funds LLC bought a new stake in shares of World Kinect during the second quarter worth $7,867,000. Finally, Deutsche Bank AG acquired a new position in shares of World Kinect during the second quarter valued at $1,843,000. 97.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WKC shares. Zacks Research cut shares of World Kinect from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Bank of America reiterated an “underperform” rating on shares of World Kinect in a research note on Monday, November 2nd. Wall Street Zen downgraded shares of World Kinect from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “sell (d)” rating on shares of World Kinect in a research report on Monday, October 26th. Finally, Morgan Stanley increased their target price on World Kinect from $30.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday, November 3rd. One equities research analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and a consensus price target 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.