World Kinect (NYSE:WKC) Chairman Michael Kasbar Sells 10,000 Shares of Company Stock

World Kinect Corporation (NYSE:WKC) Chairman Michael Kasbar sold 10,000 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $35.67, for a total transaction of $356,700.00. Following the completion of the transaction, the chairman 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 is available at the SEC website.

World Kinect Price Performance

Shares of NYSE WKC traded up $0.13 during mid-day trading on Tuesday, hitting $36.56. 856,303 shares of the stock were exchanged, compared to its average volume of 994,881. World Kinect Corporation has a twelve month low of $22.21 and a twelve month high of $41.20. The stock’s fifty day simple moving average is $36.36 and its two-hundred day simple moving average is $31.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.91 and a current ratio of 1.06. The company has a market cap of $1.87 billion, a P/E ratio of -11.39, a PEG ratio of 0.55 and a beta of 1.21.

World Kinect (NYSE:WKC) last announced its earnings results on Thursday, July 23rd. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $0.75 by $0.54. The business had revenue of $13.59 billion for the quarter, compared to the consensus estimate of $10.50 billion. World Kinect had a positive return on equity of 11.24% and a negative net margin of 0.43%.World Kinect’s revenue was up 50.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 EPS. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. As a group, analysts forecast that World Kinect Corporation will post 3.6 EPS for the current fiscal year.

World Kinect Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Monday, September 28th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Monday, September 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.5%. World Kinect’s payout ratio is currently -28.66%.

Analysts Set New Price Targets

WKC has been the subject of a number of research analyst reports. Morgan Stanley set a $30.00 price target on World Kinect in a report on Wednesday, July 29th. Weiss Ratings cut shares of World Kinect from a “hold (c-)” rating to a “sell (d)” rating in a research report on Tuesday, July 28th. Zacks Research downgraded shares of World Kinect from a “strong-buy” rating to a “hold” rating in a research note 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 report on Saturday, September 26th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Sell” and an average price target of $30.00.

Institutional Investors Weigh In On World Kinect

Institutional investors have recently modified their holdings of the business. Cassaday & Co Wealth Management LLC acquired a new position in World Kinect in the first quarter valued at approximately $37,000. IFP Advisors Inc grew its holdings in World Kinect by 858.9% during the 2nd quarter. IFP Advisors Inc now owns 1,774 shares of the company’s stock worth $58,000 after acquiring an additional 1,589 shares during the period. Transamerica Financial Advisors LLC bought a new stake in shares of World Kinect during the 2nd quarter valued at $73,000. Nykredit A S bought a new stake in shares of World Kinect during the 2nd quarter valued at $84,000. Finally, Allworth Financial LP acquired a new position in shares of World Kinect in the 2nd quarter valued at $167,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

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.