Corient Private Wealth LP Invests $1.32 Million in World Kinect Corporation $WKC

Key Points

• Corient Private Wealth LP acquired 40,180 World Kinect shares worth approximately $1.32 million, joining other institutional investors that collectively own 97.06% of the company.
• 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 increased its quarterly dividend from $0.20 to $0.23 per share.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $30 price target; meanwhile, company insiders sold $4.5 million of stock over the past 90 days.

Corient Private Wealth LP acquired a new stake in shares of World Kinect Corporation (NYSE:WKC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 40,180 shares of the company's stock, valued at approximately $1,324,000. Corient Private Wealth LP owned about 0.08% of World Kinect at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in World Kinect by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 6,713,507 shares of the company's stock valued at $157,297,000 after acquiring an additional 62,111 shares during the period. Brandes Investment Partners LP grew its holdings in World Kinect by 30.9% in the 4th quarter. Brandes Investment Partners LP now owns 3,845,750 shares of the company's stock valued at $90,106,000 after buying an additional 907,490 shares during the last quarter. Invesco Ltd. increased its position in World Kinect by 9.5% in the 3rd quarter. Invesco Ltd. now owns 2,450,762 shares of the company's stock worth $63,597,000 after buying an additional 213,145 shares during the period. LSV Asset Management lifted its holdings in shares of World Kinect by 11.4% during the fourth quarter. LSV Asset Management now owns 1,938,804 shares of the company's stock worth $45,426,000 after buying an additional 198,076 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of World Kinect by 373.8% in the third quarter. Millennium Management LLC now owns 1,602,996 shares of the company's stock valued at $41,598,000 after acquiring an additional 1,264,684 shares during the period. 97.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WKC. Zacks Research upgraded shares of World Kinect from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 22nd. Wall Street Zen cut shares of World Kinect from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 29th. Weiss Ratings downgraded shares of World Kinect from a "hold (c-)" rating to a "sell (d)" rating in a research note on Tuesday, July 28th. Finally, Morgan Stanley set a $30.00 target price on shares of World Kinect in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $30.00.

Insider Transactions at World Kinect

In related news, Chairman Michael Kasbar sold 25,000 shares of World Kinect stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $35.04, for a total value of $876,000.00. Following the sale, the chairman owned 986,450 shares of the company's stock, valued at approximately $34,565,208. This trade represents a 2.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Stebbins sold 33,445 shares of the business's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $39.93, for a total value of $1,335,458.85. Following the completion of the sale, the director owned 58,878 shares in the company, valued at $2,350,998.54. The trade was a 36.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 123,745 shares of company stock valued at $4,497,400 in the last ninety days. Corporate insiders own 3.80% of the company's stock.

World Kinect Stock Up 0.9%

Shares of WKC stock opened at $35.41 on Friday. World Kinect Corporation has a 12-month low of $22.21 and a 12-month high of $41.20. The company has a quick ratio of 0.91, a current ratio of 1.06 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average of $36.24 and a 200-day moving average of $29.88. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -11.03, a P/E/G ratio of 0.54 and a beta of 1.16.

World Kinect (NYSE:WKC - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.54. The firm had revenue of $13.59 billion during 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%. The company's revenue for the quarter was up 50.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 EPS. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. As a group, equities research analysts predict that World Kinect Corporation will post 3.6 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, June 30th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, June 30th. This is a boost from World Kinect's previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.6%. World Kinect's dividend payout ratio is -28.66%.

World Kinect Profile

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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