World Kinect (NYSE:WKC – Free Report) had its price objective boosted by Morgan Stanley from $30.00 to $32.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.
Several other research analysts have also recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of World Kinect in a research report on Monday, October 26th. Zacks Research lowered World Kinect from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Wall Street Zen cut World Kinect from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 10th. Finally, Bank of America restated an “underperform” rating on shares of World Kinect in a research note on Monday. One equities research analyst has rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Strong Sell” and a consensus target price of $32.00.
Get Our Latest Stock Analysis on WKC
World Kinect Stock Performance
Shares of WKC stock opened at $36.74 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.53. The firm has a fifty day moving average price of $36.08 and a 200 day moving average price of $30.97. The company has a market cap of $1.88 billion, a P/E ratio of 11.41, a PEG ratio of 0.59 and a beta of 1.29. World Kinect has a 12 month low of $22.21 and a 12 month high of $41.20.
World Kinect (NYSE:WKC – Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.96 by $0.03. World Kinect had a positive return on equity of 13.63% and a negative net margin of 0.37%. The firm had revenue of $13.27 billion for the quarter, compared to analyst estimates of $12.34 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. World Kinect’s revenue for the quarter was up 41.3% compared to the same quarter last year. Sell-side analysts predict that World Kinect will post 3.58 earnings per share for the current fiscal year.
World Kinect Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Monday, September 28th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, September 28th. World Kinect’s dividend payout ratio (DPR) is currently -30.98%.
Insider Buying and Selling at World Kinect
In related news, Chairman Michael Kasbar sold 10,000 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $36.41, for a total value of $364,100.00. Following the completion of the sale, the chairman directly owned 946,450 shares of the company’s stock, valued at $34,460,244.50. The trade was a 1.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jose-Miguel Tejada sold 6,000 shares of the company’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 of the company’s stock, valued at $1,325,720.16. This represents a 14.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 36,000 shares of company stock worth $1,297,760 over the last quarter. 3.80% of the stock is owned by company insiders.
Institutional Trading of World Kinect
Several institutional investors and hedge funds have recently made changes to their positions in WKC. Fifth Third Bancorp raised its holdings in shares of World Kinect by 7.1% in the third quarter. Fifth Third Bancorp now owns 33,583 shares of the company’s stock valued at $1,181,000 after buying an additional 2,212 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of World Kinect by 51.0% during the third quarter. Maryland State Retirement & Pension System now owns 11,259 shares of the company’s stock worth $396,000 after buying an additional 3,805 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of World Kinect during the third quarter worth about $545,000. Lido Advisors LLC grew its holdings in shares of World Kinect by 22.2% during the third quarter. Lido Advisors LLC now owns 20,983 shares of the company’s stock worth $738,000 after buying an additional 3,812 shares during the last quarter. Finally, Fulcrum Asset Management LLP grew its holdings in shares of World Kinect by 22,620.0% during the third quarter. Fulcrum Asset Management LLP now owns 2,272 shares of the company’s stock worth $81,000 after buying an additional 2,262 shares during the last quarter. 97.06% of the stock is owned by hedge funds and other institutional investors.
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.
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