World Kinect Corporation (NYSE:WKC - Get Free Report) Chairman Michael Kasbar sold 700 shares of World Kinect stock in a transaction on Friday, June 5th. The stock was sold at an average price of $30.00, for a total transaction of $21,000.00. Following the sale, the chairman directly owned 1,040,750 shares in the company, valued at approximately $31,222,500. This trade represents a 0.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
World Kinect Trading Up 3.4%
Shares of WKC opened at $31.18 on Wednesday. World Kinect Corporation has a 52-week low of $22.21 and a 52-week high of $31.21. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 0.65. The firm's fifty day moving average is $26.48 and its two-hundred day moving average is $25.46. The stock has a market cap of $1.60 billion, a PE ratio of -3.05, a price-to-earnings-growth ratio of 0.62 and a beta of 1.22.
World Kinect (NYSE:WKC - Get Free Report) last announced its earnings results on Thursday, April 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.44. World Kinect had a negative net margin of 1.53% and a positive return on equity of 8.27%. The company had revenue of $9.69 billion for the quarter, compared to analysts' expectations of $9.29 billion. During the same quarter in the previous year, the company posted $0.48 EPS. The firm's quarterly revenue was up 2.5% on a year-over-year basis. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS. Research analysts forecast that World Kinect Corporation will post 2.79 earnings per share for the current fiscal year.
World Kinect Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Monday, March 30th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, March 30th. World Kinect's payout ratio is -7.84%.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on WKC. Morgan Stanley lifted their price target on World Kinect from $25.00 to $26.00 and gave the stock an "underweight" rating in a report on Tuesday, May 5th. Wall Street Zen upgraded World Kinect from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Zacks Research lowered World Kinect from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 2nd. Finally, Weiss Ratings upgraded World Kinect from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $29.50.
Read Our Latest Report on World Kinect
Institutional Trading of World Kinect
Several institutional investors and hedge funds have recently bought and sold shares of WKC. Hantz Financial Services Inc. raised its holdings in World Kinect by 282.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,286 shares of the company's stock valued at $33,000 after buying an additional 950 shares during the period. Clearstead Advisors LLC increased its stake in World Kinect by 52.8% during the third quarter. Clearstead Advisors LLC now owns 1,261 shares of the company's stock worth $33,000 after purchasing an additional 436 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in World Kinect during the first quarter worth about $37,000. Aquatic Capital Management LLC purchased a new stake in World Kinect during the third quarter worth about $61,000. Finally, Aster Capital Management DIFC Ltd increased its stake in World Kinect by 977.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,630 shares of the company's stock worth $62,000 after purchasing an additional 2,386 shares during the period. 97.06% of the stock is currently owned by hedge funds and other institutional investors.
About World Kinect
(
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.
Featured Articles
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].
