World Kinect (NYSE:WKC) Chairman Sells $356,700.00 in Stock

World Kinect Corporation (NYSE:WKC) Chairman Michael Kasbar sold 10,000 shares of World Kinect stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $35.67, for a total transaction of $356,700.00. Following the completion of the transaction, the chairman directly owned 956,450 shares in the company, valued at approximately $34,116,571.50. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

World Kinect Price Performance

Shares of WKC opened at $37.29 on Friday. The business’s 50-day moving average is $36.17 and its 200-day moving average is $31.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.06 and a quick ratio of 0.91. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -11.62, a P/E/G ratio of 0.56 and a beta of 1.21. World Kinect Corporation has a fifty-two week low of $22.21 and a fifty-two week high of $41.20.

World Kinect (NYSE:WKC) last released its quarterly earnings data on Thursday, July 23rd. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.54. The firm had revenue of $13.59 billion for the quarter, compared to analyst estimates of $10.50 billion. World Kinect had a negative net margin of 0.43% and a positive return on equity of 11.24%. The company’s revenue for the quarter was up 50.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. Equities research analysts expect that World Kinect Corporation will post 3.6 EPS for the current fiscal year.

World Kinect Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Monday, September 28th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, September 28th. World Kinect’s dividend payout ratio (DPR) is currently -28.66%.

Institutional Trading of World Kinect

A number of institutional investors and hedge funds have recently made changes to their positions in WKC. GAMMA Investing LLC increased its holdings in shares of World Kinect by 8.4% during the 3rd quarter. GAMMA Investing LLC now owns 6,036 shares of the company’s stock valued at $212,000 after acquiring an additional 468 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in World Kinect by 279.7% during the third quarter. Farther Finance Advisors LLC now owns 7,601 shares of the company’s stock valued at $267,000 after purchasing an additional 5,599 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in World Kinect during the second quarter valued at approximately $207,000. Tidal Investments LLC raised its position in shares of World Kinect by 1.2% in the second quarter. Tidal Investments LLC now owns 161,922 shares of the company’s stock valued at $5,334,000 after purchasing an additional 1,908 shares during the period. Finally, Engineers Gate Manager LP raised its position in shares of World Kinect by 64.6% in the second quarter. Engineers Gate Manager LP now owns 116,078 shares of the company’s stock valued at $3,824,000 after purchasing an additional 45,560 shares during the period. Institutional investors and hedge funds own 97.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on WKC shares. Morgan Stanley set a $30.00 target price on World Kinect in a research report on Wednesday, July 29th. Weiss Ratings cut World Kinect from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, July 28th. Zacks Research downgraded World Kinect from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Finally, Wall Street Zen upgraded shares of World Kinect from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, World Kinect has an average rating of “Sell” and a consensus target price of $30.00.

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, industrial and government customers. Its offerings include aviation fuel, marine fuel, land-based transportation fuels, natural gas, electricity, lubricants and renewable energy products.

The company provides services across the aviation, marine and land transportation markets, helping customers procure, deliver and manage energy through its global supply, logistics and technology capabilities.