Key Points
- World Kinect Chairman Michael Kasbar sold 10,000 shares on July 2 at an average price of $33.38, totaling about $333,800. After the sale, he still owned more than 1.01 million shares, reducing his stake by just under 1%.
- The company recently beat earnings expectations, reporting $0.75 EPS versus the $0.31 consensus and revenue of $9.69 billion, above estimates. World Kinect also raised its quarterly dividend to $0.23 from $0.20, implying a 2.8% annualized yield.
- Analyst sentiment remains mixed but cautious, with a MarketBeat average rating of “Hold” and an average price target of $29.50. The stock has traded near its 12-month high of $33.95, above its 50-day and 200-day moving averages.
World Kinect Corporation (NYSE:WKC - Get Free Report) Chairman Michael Kasbar sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $33.38, for a total transaction of $333,800.00. Following the completion of the sale, the chairman owned 1,011,450 shares of the company's stock, valued at approximately $33,762,201. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
World Kinect Price Performance
NYSE WKC opened at $33.18 on Wednesday. The firm's fifty day simple moving average is $29.93 and its two-hundred day simple moving average is $26.64. The firm has a market capitalization of $1.70 billion, a P/E ratio of -3.25, a P/E/G ratio of 0.68 and a beta of 1.19. 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 12-month low of $22.21 and a 12-month high of $33.95.
World Kinect (NYSE:WKC - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.31 by $0.44. The firm had revenue of $9.69 billion during the quarter, compared to analyst estimates of $9.29 billion. World Kinect had a positive return on equity of 8.27% and a negative net margin of 1.53%.The business's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 EPS. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS. Analysts forecast that World Kinect Corporation will post 2.79 EPS for the current fiscal year.
World Kinect Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Tuesday, June 30th will be paid a $0.23 dividend. This is a positive change from World Kinect's previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, June 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.8%. World Kinect's dividend payout ratio (DPR) is -9.01%.
Analyst Upgrades and Downgrades
WKC has been the subject of a number of recent research reports. Wall Street Zen upgraded World Kinect from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Morgan Stanley increased their target price on shares of World Kinect from $25.00 to $26.00 and gave the stock an "underweight" rating in a research note on Tuesday, May 5th. Zacks Research cut World Kinect from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 2nd. Finally, Weiss Ratings upgraded World Kinect from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, June 29th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, World Kinect presently has an average rating of "Hold" and an average price target of $29.50.
Read Our Latest Stock Report on WKC
Institutional Trading of World Kinect
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its stake in World Kinect by 2.2% in the 1st quarter. Royal Bank of Canada now owns 68,228 shares of the company's stock valued at $1,934,000 after buying an additional 1,481 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of World Kinect by 16.5% during the first 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. lifted its position in shares of World Kinect by 4.6% in the first 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 in the last quarter. Millennium Management LLC lifted its position in shares of World Kinect by 3.3% in the first 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 in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of World Kinect by 18.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,791 shares of the company's stock worth $6,262,000 after acquiring an additional 34,807 shares during the last quarter. Hedge funds and other institutional investors own 97.06% of the company's stock.
World Kinect Company Profile
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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.
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