Michael Distefano Sells 5,000 Shares of Korn Ferry (NYSE:KFY) Stock

Korn Ferry (NYSE:KFY) insider Michael Distefano sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $72.36, for a total value of $361,800.00. Following the completion of the sale, the insider now directly owns 50,954 shares of the company’s stock, valued at approximately $3,687,031.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Korn Ferry Stock Performance

NYSE:KFY traded down $0.11 during midday trading on Tuesday, hitting $73.72. The company’s stock had a trading volume of 464,784 shares, compared to its average volume of 366,761. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.15 and a quick ratio of 1.83. Korn Ferry has a fifty-two week low of $44.45 and a fifty-two week high of $76.63. The firm’s 50 day moving average is $70.66 and its 200-day moving average is $66.77. The firm has a market cap of $3.82 billion, a P/E ratio of 22.78 and a beta of 1.54.

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

Korn Ferry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Thursday, September 19th will be issued a $0.37 dividend. The ex-dividend date is Thursday, September 19th. This represents a $1.48 annualized dividend and a dividend yield of 2.01%. Korn Ferry’s dividend payout ratio (DPR) is presently 45.96%.

Institutional Trading of Korn Ferry

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quest Partners LLC purchased a new stake in Korn Ferry in the 4th quarter worth approximately $29,000. EverSource Wealth Advisors LLC lifted its stake in shares of Korn Ferry by 112.0% in the 2nd 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 period. CWM LLC boosted its holdings in Korn Ferry by 97.3% during the second 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. Quadrant Capital Group LLC boosted its holdings in Korn Ferry by 90.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,060 shares of the business services provider’s stock worth $63,000 after buying an additional 503 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Korn Ferry by 40.1% during the first quarter. GAMMA Investing LLC now owns 1,086 shares of the business services provider’s stock valued at $71,000 after buying an additional 311 shares during the period. 98.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Korn Ferry Company 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.