Empowered Funds LLC Decreases Position in World Kinect Corporation $WKC

Key Points

• Empowered Funds LLC reduced its World Kinect stake by 16.4% in the first quarter, selling 56,482 shares and retaining 287,815 shares valued at approximately $6.64 million. Institutional investors collectively own 97.06% of the company.
• Analyst sentiment is mixed, with ratings ranging from Strong Buy to Sell; MarketBeat reports an overall “Hold” rating and a consensus price target of $30.00. Two directors also sold shares, contributing to $4.23 million in insider sales over the past three months.
• World Kinect reported stronger-than-expected quarterly results, with EPS of $1.29 versus the $0.75 consensus and revenue up 50.3% year over year to $13.59 billion. The company also raised its quarterly dividend to $0.23 per share, equivalent to a 2.5% annualized yield.

Empowered Funds LLC trimmed its holdings in World Kinect Corporation (NYSE:WKC - Free Report) by 16.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 287,815 shares of the company's stock after selling 56,482 shares during the quarter. Empowered Funds LLC owned about 0.56% of World Kinect worth $6,640,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC acquired a new stake in World Kinect during the 1st quarter worth $37,000. Aquatic Capital Management LLC purchased a new position in shares of World Kinect during the third quarter worth about $61,000. Aster Capital Management DIFC Ltd grew its holdings in shares of World Kinect by 977.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,630 shares of the company's stock worth $62,000 after purchasing an additional 2,386 shares during the last quarter. Clearstead Advisors LLC increased its position in shares of World Kinect by 108.8% during the fourth quarter. Clearstead Advisors LLC now owns 2,633 shares of the company's stock worth $62,000 after purchasing an additional 1,372 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of World Kinect during the second quarter worth about $96,000. Institutional investors and hedge funds own 97.06% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WKC. Morgan Stanley set a $30.00 target price on World Kinect in a research report on Wednesday, July 29th. Weiss Ratings lowered World Kinect from a "hold (c-)" rating to a "sell (d)" rating in a research report on Tuesday, July 28th. Wall Street Zen upgraded World Kinect from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Finally, Zacks Research raised World Kinect from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, World Kinect has an average rating of "Hold" and a consensus target price of $30.00.

Insider Transactions at World Kinect

In related news, Director Paul H. Stebbins sold 33,445 shares of the company's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $39.93, for a total transaction of $1,335,458.85. Following the transaction, the director owned 58,878 shares of the company's stock, valued at $2,350,998.54. This represents a 36.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Manley sold 10,000 shares of the company's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $39.88, for a total value of $398,800.00. Following the transaction, the director directly owned 54,116 shares in the company, valued at $2,158,146.08. This represents a 15.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 118,445 shares of company stock valued at $4,232,940. Corporate insiders own 3.80% of the company's stock.

World Kinect Stock Down 2.7%

Shares of NYSE:WKC opened at $36.12 on Friday. World Kinect Corporation has a fifty-two week low of $22.21 and a fifty-two week 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's 50-day simple moving average is $34.98 and its 200-day simple moving average is $28.96. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -11.25, a PEG ratio of 0.55 and a beta of 1.17.

World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $10.50 billion. During the same period in the prior year, the company posted $0.59 earnings per share. The firm's revenue for the quarter was up 50.3% on a year-over-year basis. 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 year.

World Kinect Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.23 per share. This is a positive change from World Kinect's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.5%. World Kinect's dividend payout ratio (DPR) is currently -28.66%.

About World Kinect

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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