World Kinect (NYSE:WKC) Chairman Michael Kasbar Sells 10,000 Shares

Key Points

• Chairman Michael Kasbar sold 10,000 World Kinect shares at an average price of $35.40, generating $354,000; he continues to own 966,450 shares.
• World Kinect reported strong quarterly results, with EPS of $1.29 beating estimates of $0.75 and revenue rising 50.3% year over year to $13.59 billion. The company also increased its quarterly dividend to $0.23 per share.
• Shares recently traded near $35.41, while analysts maintain a consensus “Hold” rating and a $30 price target; institutional investors own approximately 97.1% of the stock.

World Kinect Corporation (NYSE:WKC - Get Free Report) Chairman Michael Kasbar sold 10,000 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $35.40, for a total transaction of $354,000.00. Following the sale, the chairman directly owned 966,450 shares in the company, valued at $34,212,330. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

World Kinect Trading Up 0.9%

Shares of World Kinect stock traded up $0.32 during trading hours on Friday, reaching $35.41. 496,840 shares of the company's stock were exchanged, compared to its average volume of 968,771. World Kinect Corporation has a 52-week low of $22.21 and a 52-week high of $41.20. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -11.03, a price-to-earnings-growth ratio of 0.54 and a beta of 1.16. The company has a fifty day moving average of $36.20 and a 200-day moving average of $29.84. 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 (NYSE:WKC - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $1.29 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $13.59 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter in the previous year, the business earned $0.59 earnings per share. The business'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. Sell-side analysts forecast that World Kinect Corporation will post 3.6 EPS for the current fiscal year.

World Kinect Increases Dividend

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

Institutional Investors Weigh In On World Kinect

Several institutional investors have recently bought and sold shares of WKC. Pacer Advisors Inc. acquired a new position in World Kinect in the 4th quarter worth $9,427,000. Vanguard Group Inc. grew its stake in World Kinect by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 6,713,507 shares of the company's stock valued at $157,297,000 after purchasing an additional 62,111 shares in the last quarter. UBS Group AG grew its position in shares of World Kinect by 38.1% during the fourth quarter. UBS Group AG now owns 226,440 shares of the company's stock worth $5,305,000 after buying an additional 62,492 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of World Kinect by 98.6% in the 4th quarter. GSA Capital Partners LLP now owns 96,774 shares of the company's stock worth $2,267,000 after purchasing an additional 48,048 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in World Kinect during the fourth quarter valued at approximately $413,000. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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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