Wall Street Zen upgraded shares of World Kinect (NYSE:WKC – Free Report) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.
WKC has been the subject of several other reports. Weiss Ratings lowered World Kinect from a “hold (c-)” rating to a “sell (d)” rating in a research report on Tuesday, July 28th. Morgan Stanley set a $30.00 price target on World Kinect in a research report on Wednesday, July 29th. Finally, Zacks Research raised World Kinect from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.00.
Get Our Latest Research Report on WKC
World Kinect Trading Down 0.8%
World Kinect (NYSE:WKC – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.54. The firm had revenue of $13.59 billion during the quarter, compared to the consensus estimate of $10.50 billion. World Kinect had a negative net margin of 0.43% and a positive return on equity of 11.24%. During the same quarter last year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was up 50.3% on a year-over-year basis. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. As a group, equities analysts forecast that World Kinect will post 3.6 EPS for the current year.
World Kinect Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Monday, September 28th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, September 28th. World Kinect’s dividend payout ratio is currently -28.66%.
Insider Activity
In related news, Chairman Michael Kasbar sold 10,000 shares of World Kinect stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $35.40, for a total transaction of $354,000.00. Following the completion of the transaction, the chairman owned 966,450 shares of the company’s stock, valued at $34,212,330. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jose-Miguel Tejada sold 6,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $37.16, for a total transaction of $222,960.00. Following the completion of the transaction, the executive vice president owned 35,676 shares in the company, valued at approximately $1,325,720.16. The trade was a 14.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 104,445 shares of company stock valued at $3,915,119. 3.80% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On World Kinect
Institutional investors and hedge funds have recently made changes to their positions in the business. Villanova Investment Management Co LLC grew its stake in World Kinect by 0.4% during the fourth quarter. Villanova Investment Management Co LLC now owns 107,302 shares of the company’s stock worth $2,514,000 after purchasing an additional 434 shares during the period. Hsbc Holdings PLC lifted its stake in World Kinect by 2.0% in the first quarter. Hsbc Holdings PLC now owns 25,390 shares of the company’s stock valued at $586,000 after buying an additional 489 shares during the period. Illinois Municipal Retirement Fund lifted its stake in World Kinect by 3.3% in the first quarter. Illinois Municipal Retirement Fund now owns 29,862 shares of the company’s stock valued at $689,000 after buying an additional 950 shares during the period. Caxton Associates LLP boosted its holdings in shares of World Kinect by 2.6% during the 1st quarter. Caxton Associates LLP now owns 39,531 shares of the company’s stock worth $912,000 after buying an additional 991 shares in the last quarter. Finally, Clearstead Advisors LLC boosted its holdings in shares of World Kinect by 108.8% during the 4th quarter. Clearstead Advisors LLC now owns 2,633 shares of the company’s stock worth $62,000 after buying an additional 1,372 shares in the last quarter. Institutional investors own 97.06% of the company’s stock.
About World Kinect
World Kinect Corporation (NYSE: WKC) is an energy management company that provides fuel, energy and related services to customers in the aviation, marine and land transportation industries. Its offerings include the sourcing, marketing, distribution and delivery of conventional and alternative fuels, as well as energy procurement and risk-management solutions.
The company serves commercial airlines, business and general aviation operators, shipping companies, trucking and transportation businesses, government entities, utilities and other commercial customers.
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