World Kinect (NYSE:WKC) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of World Kinect (NYSE:WKC) from a buy rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the stock. Bank of America reissued an “underperform” rating on shares of World Kinect in a report on Monday, November 2nd. Weiss Ratings restated a “sell (d)” rating on shares of World Kinect in a research report on Monday, October 26th. Morgan Stanley raised their price target on World Kinect from $30.00 to $32.00 and gave the stock an “underweight” rating in a report on Tuesday, November 3rd. Finally, Zacks Research cut World Kinect from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. One equities research analyst has rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Strong Sell” and a consensus price target of $32.00.

World Kinect Price Performance

WKC opened at $35.75 on Friday. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 0.59 and a beta of 1.29. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $36.08 and a 200-day moving average price of $31.07. World Kinect has a twelve month low of $22.21 and a twelve month high of $41.20.

World Kinect (NYSE:WKC) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. The company had revenue of $13.27 billion for the quarter, compared to analysts’ expectations of $12.34 billion. World Kinect had a negative net margin of 0.37% and a positive return on equity of 13.63%. World Kinect’s revenue was up 41.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 EPS. Equities analysts expect that World Kinect will post 3.58 EPS for the current year.

World Kinect Announces Dividend

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

Insiders Place Their Bets

In other World Kinect news, Director Jorge L. Benitez sold 13,000 shares of the firm’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $36.56, for a total value of $475,280.00. Following the completion of the transaction, the director directly owned 50,924 shares of the company’s stock, valued at $1,861,781.44. This trade represents a 20.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael Kasbar sold 10,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $36.41, for a total transaction of $364,100.00. Following the completion of the transaction, the chairman directly owned 946,450 shares of the company’s stock, valued at approximately $34,460,244.50. The trade was a 1.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,000 shares of company stock worth $1,962,940 in the last three months. 3.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On World Kinect

Large investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership grew its position in World Kinect by 235.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 644,941 shares of the company’s stock worth $14,879,000 after buying an additional 452,462 shares in the last quarter. Counterpoint Mutual Funds LLC raised its holdings in shares of World Kinect by 2,505.9% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 295,747 shares of the company’s stock valued at $10,398,000 after acquiring an additional 284,398 shares in the last quarter. Man Group plc purchased a new stake in shares of World Kinect in the 2nd quarter valued at about $10,379,000. Bank of New York Mellon Corp bought a new stake in shares of World Kinect during the 2nd quarter valued at about $10,224,000. Finally, Principal Financial Group Inc. boosted its position in shares of World Kinect by 7.6% during the 1st quarter. Principal Financial Group Inc. now owns 365,120 shares of the company’s stock valued at $8,423,000 after acquiring an additional 25,708 shares during the last quarter. Institutional investors own 97.06% of the company’s stock.

About World Kinect

World Kinect Corporation is an energy management and fuel distribution company serving customers in aviation, marine and land transportation markets. Formerly known as World Fuel Services, the company adopted the World Kinect name in 2024.

Its services include sourcing and supplying conventional fuels, natural gas, electricity and lubricants, as well as energy procurement, logistics and related management services. World Kinect also offers solutions to help customers address emissions and other sustainability goals.

The company serves commercial and government customers across global markets.