Key Points
- Chairman Michael Kasbar sold 10,000 World Kinect shares at an average price of $35.67, generating $356,700 and reducing his ownership by 1.03% to 956,450 shares.
- World Kinect reported quarterly EPS of $1.29, beating estimates of $0.75, while revenue rose 50.3% year over year to $13.59 billion. The company also declared a quarterly dividend of $0.23 per share, yielding approximately 2.5% annually.
- Analyst sentiment remains cautious, with an average rating of “Sell” and a $30 price target, despite the stock trading near $36.56 and institutional investors owning 97.06% of outstanding shares.
World Kinect Corporation (NYSE:WKC - Get Free Report) Chairman Michael Kasbar sold 10,000 shares of the company's stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $35.67, for a total transaction of $356,700.00. Following the completion of the sale, the chairman directly owned 956,450 shares in the company, valued at approximately $34,116,571.50. This represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
World Kinect Trading Up 0.4%
WKC opened at $36.56 on Wednesday. World Kinect Corporation has a twelve month low of $22.21 and a twelve month high of $41.20. The company has a fifty day moving average of $36.29 and a 200-day moving average of $31.64. The stock has a market cap of $1.87 billion, a PE ratio of -11.39, a price-to-earnings-growth ratio of 0.56 and a beta of 1.21. The company has a quick ratio of 0.91, a current ratio of 1.06 and a debt-to-equity ratio of 0.58.
World Kinect (NYSE:WKC - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.54. The business had revenue of $13.59 billion for the quarter, compared to analyst estimates of $10.50 billion. World Kinect had a negative net margin of 0.43% and a positive return on equity of 11.24%. World Kinect's revenue for the quarter was up 50.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 earnings per share. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. On average, sell-side analysts predict that World Kinect Corporation will post 3.6 EPS for the current year.
World Kinect Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Monday, September 28th will be given a $0.23 dividend. The ex-dividend date of this dividend is Monday, September 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.5%. World Kinect's dividend payout ratio (DPR) is -28.66%.
Analysts Set New Price Targets
WKC has been the topic of several research analyst reports. Zacks Research lowered World Kinect from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 28th. Weiss Ratings downgraded World Kinect from a "hold (c-)" rating to a "sell (d)" rating in a report on Tuesday, July 28th. Morgan Stanley set a $30.00 price target on World Kinect in a research note on Wednesday, July 29th. Finally, Wall Street Zen raised World Kinect from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 26th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Sell" and an average price target of $30.00.
View Our Latest Research Report on World Kinect
Hedge Funds Weigh In On World Kinect
Several institutional investors have recently made changes to their positions in WKC. Brandes Investment Partners LP increased its holdings in shares of World Kinect by 30.9% during the fourth quarter. Brandes Investment Partners LP now owns 3,845,750 shares of the company's stock valued at $90,106,000 after acquiring an additional 907,490 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of World Kinect by 235.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 644,941 shares of the company's stock worth $14,879,000 after purchasing an additional 452,462 shares during the period. Pacer Advisors Inc. bought a new position in shares of World Kinect in the 4th quarter worth $9,427,000. OP Asset Management Ltd acquired a new stake in World Kinect in the 1st quarter valued at $7,532,000. Finally, Man Group plc acquired a new stake in World Kinect in the 2nd quarter valued at $10,379,000. Institutional investors and hedge funds own 97.06% of the company's stock.
About World Kinect
(
Get Free Report)
World Kinect Corporation (NYSE:WKC) is an energy management company that supplies, distributes and manages fuel and other energy products for commercial, industrial and government customers. Its offerings include aviation fuel, marine fuel, land-based transportation fuels, natural gas, electricity, lubricants and renewable energy products.
The company provides services across the aviation, marine and land transportation markets, helping customers procure, deliver and manage energy through its global supply, logistics and technology capabilities.
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