Hsbc Holdings PLC Purchases 89,984 Shares of World Kinect Corporation $WKC

Hsbc Holdings PLC increased its holdings in World Kinect Corporation (NYSE:WKC - Free Report) by 354.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 115,374 shares of the company's stock after acquiring an additional 89,984 shares during the quarter. Hsbc Holdings PLC owned approximately 0.23% of World Kinect worth $3,863,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Cassaday & Co Wealth Management LLC purchased a new stake in shares of World Kinect in the 1st quarter worth approximately $37,000. Aquatic Capital Management LLC purchased a new stake in World Kinect during the third quarter worth $61,000. Clearstead Advisors LLC boosted its position in World Kinect by 108.8% during the 4th quarter. Clearstead Advisors LLC now owns 2,633 shares of the company's stock valued at $62,000 after acquiring an additional 1,372 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its position in World Kinect by 977.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,630 shares of the company's stock valued at $62,000 after acquiring an additional 2,386 shares in the last quarter. Finally, Transamerica Financial Advisors LLC purchased a new position in shares of World Kinect in the 2nd quarter valued at $73,000. Hedge funds and other institutional investors own 97.06% of the company's stock.

Insider Buying and Selling at World Kinect

In other World Kinect news, Director Paul Stebbins sold 33,445 shares of the company's stock in a transaction 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 sale, the director directly owned 58,878 shares of the company's stock, valued at approximately $2,350,998.54. This represents a 36.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Manley sold 10,000 shares of World Kinect stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $39.88, for a total value of $398,800.00. Following the transaction, the director owned 54,116 shares of the company's stock, valued at $2,158,146.08. The trade was a 15.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 104,445 shares of company stock valued at $3,915,119 over the last quarter. Insiders own 3.80% of the company's stock.

World Kinect Stock Performance

WKC opened at $35.28 on Friday. World Kinect Corporation has a 52-week low of $22.21 and a 52-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 company has a market cap of $1.80 billion, a P/E ratio of -10.99, a price-to-earnings-growth ratio of 0.54 and a beta of 1.16. The firm's 50-day moving average price is $36.41 and its 200-day moving average price is $30.17.

World Kinect (NYSE:WKC - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $1.29 earnings per share 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 company had revenue of $13.59 billion for the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter in the previous year, the firm earned $0.59 EPS. World Kinect's revenue 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. As a group, equities analysts anticipate that World Kinect Corporation will post 3.6 EPS for the current fiscal year.

World Kinect Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Morgan Stanley set a $30.00 price target on World Kinect in a research report on Wednesday, July 29th. Wall Street Zen downgraded shares of World Kinect from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 29th. Weiss Ratings cut shares of World Kinect from a "hold (c-)" rating to a "sell (d)" rating in a report on Tuesday, July 28th. Finally, Zacks Research upgraded shares of World Kinect from a "hold" rating to a "strong-buy" rating in a research note 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $30.00.

World Kinect Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.