Key Points
- Director Richard Kassar sold 10,000 shares of World Kinect on May 11 at an average price of $26.97, reducing his holdings by 15.67% and leaving him with 53,812 shares.
- World Kinect reported stronger-than-expected quarterly earnings, posting $0.75 EPS versus the $0.31 consensus estimate on revenue of $9.69 billion, up 2.5% from a year earlier.
- The company also pays a quarterly dividend of $0.20 per share, equal to an annualized yield of about 2.9%, while analysts currently have a consensus rating of Hold with an average price target of $29.50.
World Kinect Corporation (NYSE:WKC - Get Free Report) Director Richard Kassar sold 10,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $26.97, for a total value of $269,700.00. Following the completion of the sale, the director directly owned 53,812 shares of the company's stock, valued at approximately $1,451,309.64. This represents a 15.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
World Kinect Stock Up 0.8%
Shares of World Kinect stock opened at $27.41 on Wednesday. The stock has a 50-day moving average price of $24.21 and a 200 day moving average price of $24.92. The company has a market cap of $1.41 billion, a P/E ratio of -2.68, a P/E/G ratio of 0.56 and a beta of 1.22. The company has a current ratio of 1.05, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65. World Kinect Corporation has a 1 year low of $22.21 and a 1 year high of $29.85.
World Kinect (NYSE:WKC - Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.44. World Kinect had a positive return on equity of 8.27% and a negative net margin of 1.53%.The company had revenue of $9.69 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period in the prior year, the firm posted $0.48 EPS. The business's revenue was up 2.5% compared to the same quarter last year. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS. As a group, analysts expect that World Kinect Corporation will post 2.79 EPS for the current fiscal year.
World Kinect Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Monday, March 30th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, March 30th. World Kinect's dividend payout ratio is presently -7.84%.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on WKC. Morgan Stanley upped their target price on World Kinect from $25.00 to $26.00 and gave the stock an "underweight" rating in a research report on Tuesday, May 5th. Wall Street Zen raised World Kinect from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Finally, Zacks Research raised World Kinect from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $29.50.
Get Our Latest Stock Analysis on WKC
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in WKC. Royal Bank of Canada increased its holdings in shares of World Kinect by 2.2% during the 1st quarter. Royal Bank of Canada now owns 68,228 shares of the company's stock valued at $1,934,000 after acquiring an additional 1,481 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of World Kinect by 16.5% during the 1st quarter. AQR Capital Management LLC now owns 119,198 shares of the company's stock valued at $3,380,000 after acquiring an additional 16,874 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of World Kinect by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,972 shares of the company's stock valued at $963,000 after acquiring an additional 1,497 shares during the last quarter. Millennium Management LLC increased its holdings in shares of World Kinect by 3.3% during the 1st quarter. Millennium Management LLC now owns 525,697 shares of the company's stock valued at $14,909,000 after acquiring an additional 16,738 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of World Kinect by 18.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,791 shares of the company's stock valued at $6,262,000 after acquiring an additional 34,807 shares during the last quarter. Institutional investors and hedge funds own 97.06% of the company's stock.
World Kinect Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
