World Kinect (NYSE:WKC) Director Sells $475,280.00 in Stock

World Kinect Corporation (NYSE:WKC) Director Jorge Benitez sold 13,000 shares of World Kinect stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $36.56, for a total transaction of $475,280.00. Following the transaction, the director directly owned 50,924 shares in the company, valued at approximately $1,861,781.44. This represents a 20.34% 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 Performance

Shares of NYSE WKC traded down $1.01 during midday trading on Friday, reaching $35.63. The company’s stock had a trading volume of 835,044 shares, compared to its average volume of 988,248. The stock has a market capitalization of $1.82 billion, a P/E ratio of -12.00, a PEG ratio of 0.59 and a beta of 1.29. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a 50 day moving average price of $36.08 and a 200-day moving average price of $30.97. World Kinect Corporation has a 12-month low of $22.21 and a 12-month high of $41.20.

World Kinect (NYSE:WKC) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. The business had revenue of $13.27 billion for the quarter, compared to analyst estimates of $12.34 billion. World Kinect had a positive return on equity of 13.63% and a negative net margin of 0.37%. During the same period last year, the company posted $0.54 earnings per share. World Kinect’s quarterly revenue was up 41.3% compared to the same quarter last year. As a group, equities analysts predict that World Kinect Corporation will post 3.58 earnings per share for the current year.

World Kinect Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Monday, September 28th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, September 28th. World Kinect’s dividend payout ratio is -30.98%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On World Kinect

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WKC. Russell Investments Group Ltd. lifted its holdings in World Kinect by 75.2% during the third quarter. Russell Investments Group Ltd. now owns 203,979 shares of the company’s stock valued at $7,261,000 after purchasing an additional 87,570 shares during the last quarter. R Squared Ltd bought a new position in shares of World Kinect during the 3rd quarter valued at $286,000. Fifth Third Bancorp grew its holdings in shares of World Kinect by 7.1% during the 3rd quarter. Fifth Third Bancorp now owns 33,583 shares of the company’s stock valued at $1,181,000 after purchasing an additional 2,212 shares during the last quarter. Maryland State Retirement & Pension System raised its position in World Kinect by 51.0% in the 3rd quarter. Maryland State Retirement & Pension System now owns 11,259 shares of the company’s stock worth $396,000 after purchasing an additional 3,805 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new position in World Kinect in the 3rd quarter worth $545,000. 97.06% of the stock is currently owned by institutional investors.

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.