World Kinect Corporation (NYSE:WKC – Get Free Report) Chairman Michael Kasbar sold 19,300 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $30.17, for a total value of $582,281.00. Following the completion of the transaction, the chairman directly owned 1,021,450 shares in the company, valued at approximately $30,817,146.50. The trade was a 1.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
World Kinect Stock Performance
Shares of WKC stock opened at $31.18 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.05 and a quick ratio of 0.87. The firm has a market cap of $1.60 billion, a P/E ratio of -3.05, a PEG ratio of 0.62 and a beta of 1.22. The stock’s 50-day moving average is $26.48 and its two-hundred day moving average is $25.46. World Kinect Corporation has a fifty-two week low of $22.21 and a fifty-two week high of $31.21.
World Kinect (NYSE:WKC – Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.44. The business 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%.The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 EPS. 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
Institutional Trading of World Kinect
Several hedge funds have recently added to or reduced their stakes in WKC. Millennium Management LLC boosted its stake in 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 purchasing an additional 1,264,684 shares during the period. Brandes Investment Partners LP boosted its stake in World Kinect by 30.9% during the 4th quarter. Brandes Investment Partners LP now owns 3,845,750 shares of the company’s stock valued at $90,106,000 after purchasing an additional 907,490 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in World Kinect by 235.1% during 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 period. American Century Companies Inc. boosted its stake in World Kinect by 64.1% during the 3rd quarter. American Century Companies Inc. now owns 1,042,766 shares of the company’s stock valued at $27,060,000 after purchasing an additional 407,225 shares during the period. Finally, Pacer Advisors Inc. bought a new stake in World Kinect during the 4th quarter valued at approximately $9,427,000. Institutional investors own 97.06% of the company’s stock.
Analyst Upgrades and Downgrades
WKC has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on World Kinect from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Tuesday, May 5th. Zacks Research lowered World Kinect from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Wall Street Zen raised World Kinect from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings raised World Kinect from a “sell (d)” rating to a “sell (d+)” rating in a report 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’s stock. According to MarketBeat.com, World Kinect currently has an average rating of “Reduce” and an average price target of $29.50.
Read Our Latest Stock Analysis on World Kinect
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.
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