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

Key Points

• Chairman Michael Kasbar sold 10,000 World Kinect shares at an average price of $36.41, for $364,100 total. He retained 946,450 shares after the sale.
• World Kinect reported quarterly EPS of $0.99, topping the $0.96 estimate, while revenue of $13.27 billion exceeded expectations and rose 41.3% year over year.
• Analysts have a consensus “Strong Sell” rating and an average price target of $32; the stock was trading at $37.88 in the report.

World Kinect Corporation (NYSE:WKC - Get Free Report) Chairman Michael Kasbar sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $36.41, for a total transaction of $364,100.00. Following the completion of the transaction, the chairman directly owned 946,450 shares in the company, valued at $34,460,244.50. This trade represents a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

World Kinect Price Performance

Shares of World Kinect stock traded down $0.11 on Wednesday, hitting $37.88. 1,512,345 shares of the company were exchanged, compared to its average volume of 987,997. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $36.02 and a 200 day moving average price of $30.88. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -12.75, a price-to-earnings-growth ratio of 0.57 and a beta of 1.29. World Kinect Corporation has a 1-year low of $22.21 and a 1-year high of $41.20.

World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.96 by $0.03. World Kinect had a positive return on equity of 13.63% and a negative net margin of 0.37%. The firm had revenue of $13.27 billion during the quarter, compared to analysts' expectations of $12.34 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The business's revenue for the quarter was up 41.3% on a year-over-year basis. As a group, sell-side analysts predict that World Kinect Corporation will post 3.57 earnings per share for the current fiscal year.

World Kinect Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Monday, September 28th were paid a $0.23 dividend. The ex-dividend date of this dividend was Monday, September 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.4%. World Kinect's dividend payout ratio (DPR) is -30.98%.

Institutional Trading of World Kinect

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fulcrum Asset Management LLP increased its stake in World Kinect by 22,620.0% during the third quarter. Fulcrum Asset Management LLP now owns 2,272 shares of the company's stock worth $81,000 after purchasing an additional 2,262 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of World Kinect in the third quarter valued at approximately $746,000. Brighton Jones LLC boosted its stake in shares of World Kinect by 2.5% in the third quarter. Brighton Jones LLC now owns 12,918 shares of the company's stock valued at $454,000 after purchasing an additional 320 shares during the period. Parallel Advisors LLC grew its holdings in shares of World Kinect by 129.0% in the third quarter. Parallel Advisors LLC now owns 4,044 shares of the company's stock valued at $142,000 after purchasing an additional 2,278 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new position in shares of World Kinect in the third quarter valued at approximately $247,000. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WKC has been the topic of a number of analyst reports. Bank of America reaffirmed an "underperform" rating on shares of World Kinect in a research note on Monday. Wall Street Zen downgraded shares of World Kinect from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 10th. Weiss Ratings restated a "sell (d)" rating on shares of World Kinect in a report on Monday, October 26th. Morgan Stanley lifted their price target on shares of World Kinect from $30.00 to $32.00 and gave the company an "underweight" rating in a research report on Tuesday. Finally, Zacks Research cut World Kinect from a "strong-buy" rating to a "hold" rating in a report on Monday, September 28th. One investment analyst has rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Strong Sell" and an average target price of $32.00.

About World Kinect

World Kinect Corporation NYSE: WKC is an energy management company that supplies, distributes and manages fuel and other energy products for commercial customers around the world. The company serves the aviation, marine and land transportation sectors, as well as commercial, industrial and government customers.

Its offerings include conventional and renewable fuels, natural gas, electricity, lubricants, fuel-management services and related environmental solutions. World Kinect also provides procurement, logistics, payment-processing and transaction-management services designed to help customers manage energy supply, costs and operational requirements.

The company was founded as World Fuel Services in 1985 and adopted the World Kinect name in 2024.

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