EverSource Wealth Advisors LLC Grows Stock Holdings in Korn Ferry (NYSE:KFY)

EverSource Wealth Advisors LLC raised its stake in Korn Ferry (NYSE:KFY) by 112.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 388 shares of the business services provider’s stock after buying an additional 205 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Korn Ferry were worth $29,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in Korn Ferry during the fourth quarter worth $711,000. Quest Partners LLC acquired a new position in shares of Korn Ferry during the 4th quarter worth $29,000. US Bancorp DE boosted its position in shares of Korn Ferry by 61.3% in the 4th quarter. US Bancorp DE now owns 27,213 shares of the business services provider’s stock worth $1,615,000 after buying an additional 10,344 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in Korn Ferry in the 4th quarter valued at about $371,000. Finally, Circumference Group LLC purchased a new position in Korn Ferry during the 4th quarter valued at about $2,131,000. 98.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Michael Distefano sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $72.36, for a total transaction of $361,800.00. Following the completion of the transaction, the insider now owns 50,954 shares of the company’s stock, valued at $3,687,031.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Robert P. Rozek sold 20,921 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 154,535 shares in the company, valued at approximately $11,672,028.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael Distefano sold 5,000 shares of the business’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 sale, the insider now owns 50,954 shares of the company’s stock, valued at approximately $3,687,031.44. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Korn Ferry Stock Up 0.5 %

KFY stock opened at $73.40 on Friday. Korn Ferry has a one year low of $44.45 and a one year high of $76.63. The stock has a market capitalization of $3.80 billion, a P/E ratio of 22.80 and a beta of 1.54. The company has a 50 day moving average price of $70.85 and a two-hundred day moving average price of $66.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.15 and a current ratio of 2.15.

Korn Ferry (NYSE:KFY) last released its earnings results 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. Korn Ferry had a return on equity of 13.73% and a net margin of 6.68%. The firm 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 firm posted $0.99 earnings per share. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, sell-side analysts expect that Korn Ferry will post 4.84 EPS for the current 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 dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $1.48 annualized dividend and a dividend yield of 2.02%. Korn Ferry’s payout ratio is currently 45.96%.

Wall Street Analyst Weigh In

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