World Kinect Corporation $WKC Shares Bought by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its World Kinect stake by 187.2% in the first quarter, reaching 46,486 shares valued at approximately $1.07 million. Institutional investors and hedge funds 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 raised its quarterly dividend to $0.23 per share, or $0.92 annually.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $30 price target compared with the stock’s reported $36.12 price. Meanwhile, insiders sold 118,445 shares worth about $4.23 million over the past 90 days.

Renaissance Technologies LLC lifted its holdings in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 187.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,486 shares of the company's stock after buying an additional 30,300 shares during the period. Renaissance Technologies LLC owned about 0.09% of World Kinect worth $1,072,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of WKC. Royal Bank of Canada boosted its stake in shares of World Kinect by 2.2% in the first 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 raised its position in World Kinect by 16.5% in the first 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. lifted its holdings in World Kinect by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,972 shares of the company's stock valued at $963,000 after acquiring an additional 1,497 shares during the period. Millennium Management LLC lifted its holdings in World Kinect by 3.3% in the first quarter. Millennium Management LLC now owns 525,697 shares of the company's stock valued at $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 boosted its position in shares of 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 purchasing an additional 34,807 shares in the last quarter. 97.06% of the stock is owned by institutional investors and hedge funds.

World Kinect Price Performance

Shares of NYSE WKC opened at $36.12 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. The company's 50-day moving average price is $34.98 and its 200 day moving average price is $28.96. World Kinect Corporation has a 52 week low of $22.21 and a 52 week high of $41.20. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -11.25, a PEG ratio of 0.57 and a beta of 1.17.

World Kinect (NYSE:WKC - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $10.50 billion. During the same quarter in the previous year, the business posted $0.59 earnings per share. The firm's quarterly 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, research analysts forecast that World Kinect Corporation will post 3.6 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The firm also recently disclosed 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 is -28.66%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Zacks Research raised shares of World Kinect from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 22nd. Morgan Stanley set a $30.00 price objective on shares of World Kinect in a report on Wednesday, July 29th. Weiss Ratings lowered shares of World Kinect from a "hold (c-)" rating to a "sell (d)" rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen raised shares of World Kinect from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $30.00.

Insider Buying and Selling

In related news, Chairman Michael J. Kasbar sold 25,000 shares of the company's 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 represents a 2.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul H. Stebbins sold 33,445 shares of the company'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 directly owned 58,878 shares in the company, valued at approximately $2,350,998.54. The trade was a 36.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 118,445 shares of company stock worth $4,232,940 in the last ninety days. Insiders own 3.80% of the company's stock.

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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