Empowered Funds LLC Buys New Shares in World Kinect Corporation $WKC

Key Points

• Empowered Funds LLC purchased 238,820 World Kinect shares worth approximately $7.9 million, while institutional investors collectively own 97.06% of the company.
• World Kinect reported strong quarterly results, with EPS of $1.29 versus the $0.75 consensus estimate and revenue up 50.3% year over year to $13.59 billion. The company also raised its quarterly dividend to $0.23, equivalent to a 2.6% annual yield.
• Analyst sentiment remains mixed: ratings range from Strong Buy to Sell, with an overall “Hold” consensus and a $30 average price target, below the stock’s reported $35.61 opening price.

Empowered Funds LLC purchased a new stake in shares of World Kinect Corporation (NYSE:WKC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 238,820 shares of the company's stock, valued at approximately $7,867,000. Empowered Funds LLC owned 0.47% of World Kinect as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Royal Bank of Canada lifted its position in shares of World Kinect by 2.2% during 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 increased its holdings in World Kinect by 16.5% in the 1st quarter. AQR Capital Management LLC now owns 119,198 shares of the company's stock worth $3,380,000 after acquiring an additional 16,874 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in World Kinect by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,972 shares of the company's stock worth $963,000 after acquiring an additional 1,497 shares in the last quarter. Millennium Management LLC raised its stake in World Kinect by 3.3% during the 1st quarter. Millennium Management LLC now owns 525,697 shares of the company's stock worth $14,909,000 after acquiring an additional 16,738 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in World Kinect by 18.7% during the 1st 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 period. Hedge funds and other institutional investors own 97.06% of the company's stock.

World Kinect Trading Up 0.5%

WKC stock opened at $35.61 on Monday. World Kinect Corporation has a 1-year low of $22.21 and a 1-year high of $41.20. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.06 and a quick ratio of 0.91. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -11.09, a PEG ratio of 0.54 and a beta of 1.17. The business has a 50 day simple moving average of $35.92 and a two-hundred day simple moving average of $29.61.

World Kinect (NYSE:WKC - Get Free Report) last released its quarterly earnings data 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. World Kinect had a negative net margin of 0.43% and a positive return on equity of 11.24%. The firm had revenue of $13.59 billion for the quarter, compared to analysts' expectations of $10.50 billion. During the same quarter last year, the business posted $0.59 earnings per share. The company's revenue for the quarter was up 50.3% compared to the same quarter last year. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. Research analysts anticipate that World Kinect Corporation will post 3.6 EPS for the current fiscal year.

World Kinect Increases Dividend

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

Insider Activity at World Kinect

In other World Kinect news, EVP Jose-Miguel Tejada sold 6,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $37.16, for a total transaction of $222,960.00. Following the completion of the transaction, the executive vice president owned 35,676 shares of the company's stock, valued at $1,325,720.16. This represents a 14.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael J. Kasbar sold 10,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $39.41, for a total value of $394,100.00. Following the transaction, the chairman owned 976,450 shares of the company's stock, valued at approximately $38,481,894.50. The trade was a 1.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 124,445 shares of company stock worth $4,455,900 in the last quarter. 3.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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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