Quarry LP Trims Holdings in Korn Ferry (NYSE:KFY)

Quarry LP lessened its stake in Korn Ferry (NYSE:KFY) by 24.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,049 shares of the business services provider’s stock after selling 331 shares during the period. Quarry LP’s holdings in Korn Ferry were worth $79,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in KFY. CWM LLC increased its position in shares of Korn Ferry by 97.3% in the 2nd quarter. CWM LLC now owns 890 shares of the business services provider’s stock worth $60,000 after purchasing an additional 439 shares during the last quarter. Simplicity Wealth LLC bought a new stake in Korn Ferry in the second quarter valued at about $394,000. Yarbrough Capital LLC raised its stake in Korn Ferry by 99.5% during the second quarter. Yarbrough Capital LLC now owns 11,008 shares of the business services provider’s stock valued at $739,000 after buying an additional 5,490 shares in the last quarter. Leeward Investments LLC MA lifted its holdings in Korn Ferry by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 249,740 shares of the business services provider’s stock worth $16,768,000 after buying an additional 13,226 shares during the last quarter. Finally, Summit Global Investments grew its position in shares of Korn Ferry by 2.5% in the 2nd quarter. Summit Global Investments now owns 22,609 shares of the business services provider’s stock worth $1,518,000 after acquiring an additional 553 shares in the last quarter. 98.82% of the stock is owned by institutional investors and hedge funds.

Korn Ferry Price Performance

KFY opened at $71.56 on Monday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average price is $74.19 and its 200 day moving average price is $70.77. Korn Ferry has a fifty-two week low of $52.06 and a fifty-two week high of $80.64. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 15.29 and a beta of 1.56.

Korn Ferry (NYSE:KFY) last announced its quarterly earnings results on Thursday, December 5th. The business services provider reported $1.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.21. Korn Ferry had a return on equity of 13.73% and a net margin of 6.68%. The business had revenue of $682.00 million for the quarter, compared to analysts’ expectations of $675.35 million. During the same period in the prior year, the firm earned $0.97 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts expect that Korn Ferry will post 4.84 earnings per share for the current year.

Korn Ferry Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, December 20th. This represents a $1.48 annualized dividend and a dividend yield of 2.07%. Korn Ferry’s dividend payout ratio is currently 31.62%.

Insider Buying and Selling

In related news, CEO Gary D. Burnison sold 38,726 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $72.18, for a total value of $2,795,242.68. Following the completion of the transaction, the chief executive officer now directly owns 273,118 shares of the company’s stock, valued at $19,713,657.24. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert P. Rozek sold 20,921 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $75.53, for a total value of $1,580,163.13. Following the completion of the sale, the chief financial officer now owns 154,535 shares of the company’s stock, valued at $11,672,028.55. This trade represents a 11.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,201 shares of company stock valued at $6,329,320 in the last quarter. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial upped their price target on Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $77.00.

About Korn Ferry

Korn Ferry, together with its subsidiaries, provides organizational consulting services worldwide. It operates through four segments: Consulting, Digital, Executive Search, and Recruitment Process Outsourcing (RPO) & Professional Search. The company provides executive search services to recruit board level, chief executive, other senior executive, and general management talent of organizations.