World Kinect (NYSE:WKC) Chairman Sells 25,000 Shares of Stock

World Kinect Corporation (NYSE:WKC) Chairman Michael Kasbar sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $35.04, for a total transaction of $876,000.00. Following the sale, the chairman owned 986,450 shares of the company’s stock, valued at approximately $34,565,208. The trade was a 2.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

World Kinect Stock Performance

Shares of NYSE:WKC traded up $0.49 during mid-day trading on Tuesday, reaching $36.44. The company had a trading volume of 951,097 shares, compared to its average volume of 901,575. World Kinect Corporation has a one year low of $22.21 and a one year high of $36.89. 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 company’s 50-day moving average price is $30.57 and its 200-day moving average price is $26.96. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -3.57, a PEG ratio of 0.72 and a beta of 1.19.

World Kinect (NYSE:WKC) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.44. The business had revenue of $9.69 billion during 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 revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 earnings per share. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS. As a group, equities research analysts anticipate that World Kinect Corporation will post 2.79 EPS for the current fiscal year.

World Kinect Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, June 30th. This is a positive change from World Kinect’s previous quarterly dividend of $0.20. World Kinect’s dividend payout ratio is currently -9.01%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WKC. Vanguard Group Inc. lifted its position in World Kinect by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 6,713,507 shares of the company’s stock valued at $157,297,000 after purchasing an additional 62,111 shares during the last quarter. Brandes Investment Partners LP increased its holdings in shares of World Kinect by 30.9% in the 4th quarter. Brandes Investment Partners LP now owns 3,845,750 shares of the company’s stock worth $90,106,000 after buying an additional 907,490 shares during the last quarter. Invesco Ltd. increased its holdings in shares of World Kinect by 9.5% in the 3rd quarter. Invesco Ltd. now owns 2,450,762 shares of the company’s stock worth $63,597,000 after buying an additional 213,145 shares during the last quarter. LSV Asset Management raised its position in shares of World Kinect by 11.4% during the 4th quarter. LSV Asset Management now owns 1,938,804 shares of the company’s stock valued at $45,426,000 after buying an additional 198,076 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of World Kinect by 373.8% during the 3rd quarter. Millennium Management LLC now owns 1,602,996 shares of the company’s stock valued at $41,598,000 after buying an additional 1,264,684 shares in the last quarter. 97.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WKC. Wall Street Zen upgraded World Kinect from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Morgan Stanley increased their target price on shares of World Kinect from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 5th. Zacks Research downgraded shares of World Kinect from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Weiss Ratings raised shares of World Kinect from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.50.

About World Kinect

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.