World Kinect (NYSE:WKC) Director Sells 33,445 Shares of Stock

Key Points

• Director Paul Stebbins sold 33,445 World Kinect shares for approximately $1.34 million, reducing his ownership by 36.23% to 58,878 shares.
• 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. Shares recently traded near $39.82, close to the company’s 52-week high.
• The company increased its quarterly dividend to $0.23 per share, implying an annualized dividend of $0.92 and a 2.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $31.50.

World Kinect Corporation (NYSE:WKC - Get Free Report) Director Paul Stebbins sold 33,445 shares of the stock in a transaction dated 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 owned 58,878 shares of the company's stock, valued at approximately $2,350,998.54. This trade represents a 36.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

World Kinect Stock Up 0.2%

Shares of WKC stock traded up $0.09 during trading hours on Friday, reaching $39.82. 1,184,482 shares of the company's stock were exchanged, compared to its average volume of 971,937. World Kinect Corporation has a 1 year low of $22.21 and a 1 year high of $41.20. 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 stock has a market cap of $2.04 billion, a PE ratio of -12.41, a PEG ratio of 0.62 and a beta of 1.19. The stock's fifty day moving average price is $33.12 and its two-hundred day moving average price is $28.16.

World Kinect (NYSE:WKC - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.54. The company had revenue of $13.59 billion during the quarter, compared to analysts' expectations of $10.50 billion. World Kinect had a negative net margin of 0.43% and a positive return on equity of 11.24%. World Kinect's revenue for the quarter was up 50.3% on a year-over-year basis. During the same period last year, the business earned $0.59 EPS. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. Research analysts predict that World Kinect Corporation will post 3.6 EPS for the current year.

World Kinect Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, June 30th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from World Kinect's previous quarterly dividend of $0.20. World Kinect's payout ratio is currently -28.66%.

Analysts Set New Price Targets

A number of analysts have commented on WKC shares. Weiss Ratings cut World Kinect from a "hold (c-)" rating to a "sell (d)" rating in a research report on Tuesday. Morgan Stanley set a $30.00 target price on World Kinect in a report on Wednesday. Wall Street Zen upgraded World Kinect from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Finally, Zacks Research upgraded shares of World Kinect from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Sell rating to the company. According to MarketBeat, World Kinect has a consensus rating of "Hold" and an average price target of $31.50.

Hedge Funds Weigh In On World Kinect

Several institutional investors and hedge funds have recently modified their holdings of WKC. GAMMA Investing LLC grew its holdings in World Kinect by 80.5% during the second quarter. GAMMA Investing LLC now owns 5,568 shares of the company's stock worth $183,000 after acquiring an additional 2,484 shares during the period. Edgestream Partners L.P. lifted its holdings in World Kinect by 2.9% in the first quarter. Edgestream Partners L.P. now owns 120,060 shares of the company's stock valued at $2,770,000 after acquiring an additional 3,398 shares during the period. Amundi boosted its position in World Kinect by 87.4% in the 1st quarter. Amundi now owns 24,394 shares of the company's stock worth $563,000 after purchasing an additional 11,378 shares in the last quarter. California State Teachers Retirement System boosted its position in World Kinect by 36.2% in the 1st quarter. California State Teachers Retirement System now owns 73,864 shares of the company's stock worth $1,704,000 after purchasing an additional 19,622 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of World Kinect by 30.4% during the 1st quarter. Royal Bank of Canada now owns 328,662 shares of the company's stock worth $7,583,000 after purchasing an additional 76,657 shares during the period. Institutional investors and hedge funds own 97.06% of the company's stock.

World Kinect Company Profile

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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