Korn Ferry (NYSE:KFY) Insider Sells $361,800.00 in Stock

Korn Ferry (NYSE:KFY) insider Michael Distefano sold 5,000 shares of the firm’s stock in a transaction that occurred 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Korn Ferry Stock Up 0.7 %

KFY opened at $72.99 on Friday. The company has a market capitalization of $3.80 billion, a PE ratio of 22.67 and a beta of 1.54. Korn Ferry has a 1-year low of $44.45 and a 1-year high of $76.63. The firm’s 50 day simple moving average is $70.78 and its two-hundred day simple moving average is $66.91. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.23.

Korn Ferry (NYSE:KFY) last announced its quarterly earnings data on Thursday, September 5th. The business services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.12 by $0.06. The firm had revenue of $682.80 million for the quarter, compared to the consensus estimate of $663.84 million. Korn Ferry had a net margin of 6.68% and a return on equity of 13.73%. The company’s revenue was down 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.99 EPS. As a group, equities analysts forecast that Korn Ferry will post 4.84 EPS for the current year.

Korn Ferry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, September 19th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $1.48 annualized dividend and a yield of 2.03%. Korn Ferry’s payout ratio is 45.96%.

Institutional Investors Weigh In On Korn Ferry

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Korn Ferry by 2.2% during the first quarter. Vanguard Group Inc. now owns 6,354,443 shares of the business services provider’s stock worth $417,868,000 after acquiring an additional 134,209 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Korn Ferry by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,281,186 shares of the business services provider’s stock valued at $220,296,000 after purchasing an additional 48,993 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Korn Ferry by 0.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,383,702 shares of the business services provider’s stock valued at $90,992,000 after purchasing an additional 5,261 shares in the last quarter. Pzena Investment Management LLC increased its holdings in shares of Korn Ferry by 24.6% in the first quarter. Pzena Investment Management LLC now owns 1,118,694 shares of the business services provider’s stock worth $73,565,000 after purchasing an additional 220,564 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Korn Ferry by 1,846.0% in the second quarter. Thrivent Financial for Lutherans now owns 886,993 shares of the business services provider’s stock worth $59,553,000 after buying an additional 841,413 shares in the last quarter. Institutional investors own 98.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KFY. Truist Financial restated a “buy” rating and issued a $78.00 target price (up previously from $74.00) on shares of Korn Ferry in a report on Friday, June 14th. StockNews.com upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. UBS Group increased their price target on shares of Korn Ferry from $66.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. Finally, Robert W. Baird increased their price target on shares of Korn Ferry from $72.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $75.00.

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.