Hsbc Holdings PLC Purchases Shares of 115,374 World Kinect Corporation $WKC

Hsbc Holdings PLC acquired a new position in shares of World Kinect Corporation (NYSE:WKC) during the second quarter, HoldingsChannel reports. The institutional investor acquired 115,374 shares of the company’s stock, valued at approximately $3,863,000.

Other institutional investors have also modified their holdings of the company. Villanova Investment Management Co LLC boosted its stake in World Kinect by 0.4% in the fourth quarter. Villanova Investment Management Co LLC now owns 107,302 shares of the company’s stock valued at $2,514,000 after acquiring an additional 434 shares in the last quarter. Lido Advisors LLC grew its stake in World Kinect by 6.1% during the 4th quarter. Lido Advisors LLC now owns 10,504 shares of the company’s stock worth $268,000 after buying an additional 608 shares during the last quarter. California State Teachers Retirement System increased its position in World Kinect by 1.4% during the second quarter. California State Teachers Retirement System now owns 54,354 shares of the company’s stock worth $1,541,000 after buying an additional 775 shares during the period. Amundi lifted its stake in World Kinect by 6.9% in the third quarter. Amundi now owns 13,874 shares of the company’s stock valued at $360,000 after buying an additional 898 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its stake in World Kinect by 3.3% in the first quarter. Illinois Municipal Retirement Fund now owns 29,862 shares of the company’s stock valued at $689,000 after buying an additional 950 shares during the last quarter. Hedge funds and other institutional investors own 97.06% of the company’s stock.

World Kinect Trading Down 0.6%

Shares of World Kinect stock opened at $35.61 on Friday. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -11.09, a price-to-earnings-growth ratio of 0.54 and a beta of 1.17. World Kinect Corporation has a 52-week low of $22.21 and a 52-week high of $41.20. The company’s 50-day simple moving average is $35.92 and its 200-day simple moving average is $29.59. The company has a quick ratio of 0.91, a current ratio of 1.06 and a debt-to-equity ratio of 0.58.

World Kinect (NYSE:WKC) 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 negative net margin of 0.43% and a positive return on equity of 11.24%. The firm had revenue of $13.59 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter last year, the firm earned $0.59 earnings per share. The firm’s 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, equities research analysts anticipate that World Kinect Corporation will post 3.6 earnings per share for the current year.

World Kinect Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, June 30th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from World Kinect’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, June 30th. World Kinect’s dividend payout ratio (DPR) is presently -28.66%.

Insiders Place Their Bets

In related news, Chairman Michael J. Kasbar sold 10,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $39.41, for a total transaction of $394,100.00. Following the transaction, the chairman owned 976,450 shares of the company’s stock, valued at $38,481,894.50. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Manley sold 10,000 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $39.88, for a total value of $398,800.00. Following the completion of the transaction, the director owned 54,116 shares of the company’s stock, valued at $2,158,146.08. The trade was a 15.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 124,445 shares of company stock valued at $4,455,900 in the last three months. 3.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on WKC shares. Zacks Research raised shares of World Kinect from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Weiss Ratings lowered shares of World Kinect from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, July 28th. Morgan Stanley set a $30.00 price target on World Kinect in a report on Wednesday, July 29th. Finally, Wall Street Zen cut World Kinect from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.