Brandes Investment Partners LP lifted its position in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 30.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,845,750 shares of the company's stock after purchasing an additional 907,490 shares during the quarter. Brandes Investment Partners LP owned about 6.92% of World Kinect worth $90,106,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Clearstead Advisors LLC boosted its position in shares of World Kinect by 52.8% during the third quarter. Clearstead Advisors LLC now owns 1,261 shares of the company's stock valued at $33,000 after purchasing an additional 436 shares in the last quarter. Hantz Financial Services Inc. raised its stake in World Kinect by 282.7% during the third 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 last quarter. Aquatic Capital Management LLC purchased a new position in World Kinect during the third quarter valued at $61,000. Raymond James Financial Inc. purchased a new position in World Kinect during the second quarter valued at $96,000. Finally, Tower Research Capital LLC TRC raised its stake in World Kinect by 72.7% during the second quarter. Tower Research Capital LLC TRC now owns 6,021 shares of the company's stock valued at $171,000 after buying an additional 2,534 shares during the last quarter. 97.06% of the stock is currently owned by institutional investors.
World Kinect Stock Up 3.4%
WKC stock opened at $31.18 on Wednesday. World Kinect Corporation has a 1-year low of $22.21 and a 1-year high of $31.21. The business has a fifty day moving average price of $26.48 and a 200-day moving average price of $25.46. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.05 and a quick ratio of 0.87. The stock has a market capitalization of $1.60 billion, a P/E ratio of -3.05, a P/E/G ratio of 0.62 and a beta of 1.22.
World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly 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 firm had revenue of $9.69 billion during the quarter, compared to analysts' expectations of $9.29 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. The company's 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. Equities analysts forecast that World Kinect Corporation will post 2.79 earnings per share for the current fiscal year.
World Kinect Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Monday, March 30th were paid a $0.20 dividend. The ex-dividend date was Monday, March 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.6%. World Kinect's payout ratio is currently -7.84%.
Insiders Place Their Bets
In other news, Chairman Michael J. Kasbar sold 23,653 shares of the business's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $28.18, for a total value of $666,541.54. Following the completion of the transaction, the chairman owned 1,062,797 shares in the company, valued at $29,949,619.46. The trade was a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Michael John Kroll sold 2,100 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $27.30, for a total value of $57,330.00. Following the completion of the transaction, the chief accounting officer owned 10,390 shares of the company's stock, valued at $283,647. This represents a 16.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 97,928 shares of company stock worth $2,773,265 over the last three months. Company insiders own 3.80% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have issued reports on WKC shares. Weiss Ratings upgraded World Kinect from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, May 14th. Wall Street Zen upgraded World Kinect from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Zacks Research cut World Kinect from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 2nd. Finally, Morgan Stanley lifted their price objective on World Kinect from $25.00 to $26.00 and gave the company an "underweight" rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $29.50.
Get Our Latest Stock Analysis on WKC
About World Kinect
(
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.
Further Reading
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