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

World Kinect Corporation (NYSE:WKC) Chairman Michael Kasbar sold 10,000 shares of the business’s stock in a transaction 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 owned 946,450 shares of the company’s stock, valued at approximately $34,460,244.50. This trade represents a 1.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

World Kinect Stock Down 0.3%

Shares of NYSE WKC traded down $0.11 during mid-day trading on Wednesday, hitting $37.88. The company had a trading volume of 1,512,345 shares, compared to its average volume of 987,997. The company has a market capitalization of $1.94 billion, a PE ratio of -12.75, a price-to-earnings-growth ratio of 0.57 and a beta of 1.29. The business’s 50-day simple moving average is $36.02 and its 200 day simple moving average is $30.88. World Kinect Corporation has a 1-year low of $22.21 and a 1-year high of $41.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.04 and a quick ratio of 0.87.

World Kinect (NYSE:WKC) last released its earnings results on Thursday, October 29th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.96 by $0.03. The firm had revenue of $13.27 billion during 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%. World Kinect’s revenue for the quarter was up 41.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 EPS. On average, analysts predict that World Kinect Corporation will post 3.57 earnings per share for the current year.

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Monday, September 28th were given 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 is currently -30.98%.

Institutional Trading of World Kinect

Several institutional investors have recently modified their holdings of WKC. Fulcrum Asset Management LLP grew its position in shares of World Kinect by 22,620.0% in the 3rd quarter. Fulcrum Asset Management LLP now owns 2,272 shares of the company’s stock valued at $81,000 after buying an additional 2,262 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in World Kinect during the 3rd quarter worth $746,000. Brighton Jones LLC lifted its position in 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 acquiring an additional 320 shares during the last quarter. Parallel Advisors LLC lifted its position in 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 acquiring an additional 2,278 shares during the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new position in World Kinect in the third quarter valued at $247,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WKC shares. Zacks Research cut shares of World Kinect from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Bank of America reissued an “underperform” rating on shares of World Kinect in a report on Monday. Morgan Stanley lifted their price target on World Kinect from $30.00 to $32.00 and gave the stock an “underweight” rating in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of World Kinect in a research report on Monday, October 26th. Finally, Wall Street Zen downgraded World Kinect from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 10th. One investment analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average 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.