World Kinect (NYSE:WKC) Director Sells $475,280.00 in Stock

Key Points

• Director Jorge Benitez sold 13,000 World Kinect shares for $475,280, reducing his stake by 20.34%; he retained 50,924 shares.
• World Kinect beat quarterly expectations, reporting EPS of $0.99 versus a $0.96 consensus and revenue of $13.27 billion, up 41.3% year over year.
• Analyst sentiment remains cautious: MarketBeat reports a “Strong Sell” consensus and a $32 average price target, below the stock’s cited $35.63 trading price.

World Kinect Corporation (NYSE:WKC - Get Free Report) Director Jorge Benitez sold 13,000 shares of World Kinect stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $36.56, for a total value of $475,280.00. Following the completion of the sale, the director owned 50,924 shares of the company's stock, valued at approximately $1,861,781.44. The trade was a 20.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

World Kinect Trading Down 2.8%

WKC traded down $1.01 during trading on Friday, hitting $35.63. The company's stock had a trading volume of 835,044 shares, compared to its average volume of 988,248. World Kinect Corporation has a twelve month low of $22.21 and a twelve month high of $41.20. 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 stock's fifty day moving average price is $36.08 and its 200-day moving average price is $30.97. The firm has a market capitalization of $1.82 billion, a P/E ratio of -12.00, a PEG ratio of 0.59 and a beta of 1.29.

World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.03. The firm had revenue of $13.27 billion for the quarter, compared to analysts' expectations of $12.34 billion. World Kinect had a positive return on equity of 13.63% and a negative net margin of 0.37%. The company's revenue for the quarter was up 41.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 EPS. Analysts anticipate that World Kinect Corporation will post 3.58 EPS for the current year.

World Kinect Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Monday, September 28th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, September 28th. World Kinect's payout ratio is presently -30.98%.

Hedge Funds Weigh In On World Kinect

A number of institutional investors have recently modified their holdings of WKC. Arrowstreet Capital Limited Partnership lifted its stake in World Kinect by 235.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 644,941 shares of the company's stock valued at $14,879,000 after acquiring an additional 452,462 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in World Kinect by 7.6% during the 1st quarter. Principal Financial Group Inc. now owns 365,120 shares of the company's stock worth $8,423,000 after acquiring an additional 25,708 shares during the last quarter. Royal Bank of Canada grew its stake in shares of World Kinect by 30.4% in the 1st quarter. Royal Bank of Canada now owns 328,662 shares of the company's stock worth $7,583,000 after acquiring an additional 76,657 shares in the last quarter. Man Group plc bought a new position in shares of World Kinect during the second quarter valued at about $10,379,000. Finally, Bank of New York Mellon Corp bought a new position in shares of World Kinect during the second quarter valued at about $10,224,000. 97.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

World Kinect Company Profile

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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