World Kinect Corporation (NYSE:WKC – Get Free Report) Chairman Michael Kasbar sold 10,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $36.41, for a total value of $364,100.00. Following the completion of the transaction, the chairman owned 946,450 shares in the company, valued at approximately $34,460,244.50. This trade represents a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
World Kinect Stock Performance
Shares of WKC opened at $36.74 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.04 and a quick ratio of 0.87. World Kinect Corporation has a one year low of $22.21 and a one year high of $41.20. The firm has a market capitalization of $1.88 billion, a P/E ratio of 11.41, a PEG ratio of 0.59 and a beta of 1.29. The business has a fifty day moving average of $36.08 and a 200 day moving average of $30.97.
World Kinect (NYSE:WKC – Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. The company had revenue of $13.27 billion for the quarter, compared to the consensus estimate of $12.34 billion. World Kinect had a positive return on equity of 13.63% and a negative net margin of 0.37%. World Kinect’s revenue was up 41.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. As a group, sell-side analysts anticipate that World Kinect Corporation will post 3.58 EPS for the current year.
World Kinect Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Monday, September 28th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, September 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.5%. World Kinect’s dividend payout ratio is presently -30.98%.
Institutional Trading of World Kinect
A number of hedge funds and other institutional investors have recently bought and sold shares of WKC. Arrowstreet Capital Limited Partnership raised its holdings in World Kinect by 235.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 644,941 shares of the company’s stock valued at $14,879,000 after acquiring an additional 452,462 shares during the period. Man Group plc purchased a new position in shares of World Kinect in the second quarter valued at about $10,379,000. Bank of New York Mellon Corp bought a new position in shares of World Kinect in the second quarter worth about $10,224,000. Counterpoint Mutual Funds LLC boosted its stake in shares of World Kinect by 2,505.9% in the third quarter. Counterpoint Mutual Funds LLC now owns 295,747 shares of the company’s stock worth $10,398,000 after acquiring an additional 284,398 shares during the period. Finally, Empowered Funds LLC bought a new position in shares of World Kinect in the second quarter worth about $7,867,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.
Analyst Ratings Changes
WKC has been the topic of a number of research reports. Zacks Research downgraded shares of World Kinect from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Bank of America reaffirmed an “underperform” rating on shares of World Kinect in a report on Monday. Wall Street Zen cut shares of World Kinect from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of World Kinect in a research report on Monday, October 26th. Finally, Morgan Stanley lifted their price target on shares of World Kinect from $30.00 to $32.00 and gave the stock an “underweight” rating in a research note on Tuesday. One investment analyst has rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Strong Sell” and an average target price of $32.00.
Read Our Latest Research Report on World Kinect
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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