Korn Ferry (NYSE:KFY) Stake Lowered by Summit Global Investments

Summit Global Investments cut its stake in shares of Korn Ferry (NYSE:KFY) by 9.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,430 shares of the business services provider’s stock after selling 2,179 shares during the quarter. Summit Global Investments’ holdings in Korn Ferry were worth $1,537,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in KFY. EverSource Wealth Advisors LLC grew its holdings in shares of Korn Ferry by 112.0% during the second quarter. EverSource Wealth Advisors LLC now owns 388 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 205 shares during the last quarter. CWM LLC grew its holdings in 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 buying an additional 439 shares in the last quarter. GAMMA Investing LLC grew its holdings in Korn Ferry by 28.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,392 shares of the business services provider’s stock worth $93,000 after buying an additional 306 shares in the last quarter. Quarry LP grew its holdings in Korn Ferry by 149.1% in the 2nd quarter. Quarry LP now owns 1,380 shares of the business services provider’s stock worth $93,000 after buying an additional 826 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in Korn Ferry in the 2nd quarter worth approximately $101,000. 98.82% of the stock is owned by institutional investors.

Korn Ferry Stock Performance

Shares of KFY stock opened at $78.44 on Friday. Korn Ferry has a 12-month low of $47.44 and a 12-month high of $79.54. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 22.41 and a beta of 1.55. The business has a 50 day simple moving average of $72.06 and a 200 day simple moving average of $68.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.15 and a quick ratio of 2.15.

Korn Ferry (NYSE:KFY) last issued its quarterly earnings data on Thursday, September 5th. The business services provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.06. Korn Ferry had a return on equity of 13.73% and a net margin of 6.68%. The business had revenue of $682.80 million during the quarter, compared to analyst estimates of $663.84 million. During the same period in the prior year, the company posted $0.99 EPS. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that Korn Ferry will post 4.84 EPS for the current year.

Korn Ferry Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, September 19th were given a $0.37 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $1.48 dividend on an annualized basis and a yield of 1.89%. Korn Ferry’s dividend payout ratio (DPR) is 42.29%.

Insiders Place Their Bets

In other Korn Ferry news, Director Debra J. Perry sold 5,280 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $73.30, for a total value of $387,024.00. Following the completion of the sale, the director now directly owns 46,180 shares in the company, valued at $3,384,994. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Michael Distefano sold 5,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $72.36, for a total transaction of $361,800.00. Following the completion of the sale, the insider now owns 50,954 shares in the company, valued at approximately $3,687,031.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Debra J. Perry sold 5,280 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $73.30, for a total value of $387,024.00. Following the sale, the director now owns 46,180 shares of the company’s stock, valued at $3,384,994. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,201 shares of company stock worth $6,329,320 over the last ninety days. Company insiders own 1.40% of the company’s stock.

Korn Ferry Profile

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.