WINTON GROUP Ltd Sells 58,876 Shares of World Kinect Corporation $WKC

Key Points

• WINTON GROUP Ltd cut its World Kinect stake by 57.3% in the second quarter, selling 58,876 shares and retaining 43,800 shares worth approximately $1.44 million. Institutional investors collectively own 97.06% of WKC.
• World Kinect reported strong quarterly results, with earnings of $1.29 per share versus the $0.75 consensus estimate and revenue of $13.59 billion, up 50.3% year over year. The company also raised its quarterly dividend to $0.23 per share.
• Insiders sold 104,445 shares worth about $3.92 million in the latest quarter, while analyst sentiment remains mixed: WKC carries a consensus “Hold” rating and a $30 average price target, below its reported $35.10 share price.

WINTON GROUP Ltd trimmed its stake in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 57.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,800 shares of the company's stock after selling 58,876 shares during the period. WINTON GROUP Ltd owned 0.09% of World Kinect worth $1,443,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of WKC. Brandes Investment Partners LP boosted its holdings in shares of World Kinect by 30.9% during the 4th quarter. Brandes Investment Partners LP now owns 3,845,750 shares of the company's stock valued at $90,106,000 after purchasing an additional 907,490 shares during the last quarter. Invesco Ltd. increased its holdings in shares of World Kinect by 9.5% in the third quarter. Invesco Ltd. now owns 2,450,762 shares of the company's stock worth $63,597,000 after purchasing an additional 213,145 shares during the last quarter. LSV Asset Management increased its holdings in shares of World Kinect by 11.4% in the fourth quarter. LSV Asset Management now owns 1,938,804 shares of the company's stock worth $45,426,000 after purchasing an additional 198,076 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of World Kinect by 2,393.9% in the second quarter. California State Teachers Retirement System now owns 1,842,104 shares of the company's stock worth $55,923,000 after buying an additional 1,768,240 shares in the last quarter. Finally, Millennium Management LLC lifted 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 worth $41,598,000 after buying an additional 1,264,684 shares in the last quarter. 97.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Michael Kasbar sold 25,000 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $35.04, for a total transaction of $876,000.00. Following the sale, the chairman owned 986,450 shares in the company, valued at approximately $34,565,208. This represents a 2.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John Manley sold 10,000 shares of the firm'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 completion of the sale, the director owned 54,116 shares of the company's stock, valued at approximately $2,158,146.08. This represents a 15.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 104,445 shares of company stock worth $3,915,119. 3.80% of the stock is owned by company insiders.

World Kinect Stock Down 0.7%

Shares of NYSE WKC opened at $35.10 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.91 and a debt-to-equity ratio of 0.58. World Kinect Corporation has a 12-month low of $22.21 and a 12-month high of $41.20. The firm's 50-day moving average price is $36.44 and its 200-day moving average price is $30.20. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -10.93, a P/E/G ratio of 0.54 and a beta of 1.16.

World Kinect (NYSE:WKC - Get Free Report) last issued its quarterly earnings data 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 positive return on equity of 11.24% and a negative net margin of 0.43%.The company had revenue of $13.59 billion for the quarter, compared to analysts' expectations of $10.50 billion. During the same period in the previous year, the firm 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. On average, equities 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 announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders 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 annualized dividend and a dividend yield of 2.6%. This is an increase from World Kinect's previous quarterly dividend of $0.20. World Kinect's dividend payout ratio is presently -28.66%.

Wall Street Analyst Weigh In

WKC has been the subject of several research analyst reports. Morgan Stanley set a $30.00 price target on World Kinect in a report on Wednesday, July 29th. Zacks Research raised World Kinect from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 22nd. Weiss Ratings downgraded World Kinect from a "hold (c-)" rating to a "sell (d)" rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen lowered shares of World Kinect from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, World Kinect has a consensus rating of "Hold" and an average target price of $30.00.

World Kinect Profile

World Kinect Corporation NYSE: WKC is an energy management company that provides fuel, energy and related services to customers in the aviation, marine and land transportation industries. Its offerings include the sourcing, marketing, distribution and delivery of conventional and alternative fuels, as well as energy procurement and risk-management solutions.

The company serves commercial airlines, business and general aviation operators, shipping companies, trucking and transportation businesses, government entities, utilities and other commercial customers.

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