Point72 Asia Singapore Pte. Ltd. Decreases Stock Holdings in Korn Ferry (NYSE:KFY)

Point72 Asia Singapore Pte. Ltd. lowered its position in Korn Ferry (NYSE:KFY) by 40.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,511 shares of the business services provider’s stock after selling 2,365 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Korn Ferry were worth $236,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in Korn Ferry by 112.0% in 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 lifted its stake in shares of Korn Ferry by 97.3% during the second quarter. CWM LLC now owns 890 shares of the business services provider’s stock valued at $60,000 after buying an additional 439 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Korn Ferry by 40.1% during the first quarter. GAMMA Investing LLC now owns 1,086 shares of the business services provider’s stock worth $71,000 after purchasing an additional 311 shares during the last quarter. Quarry LP lifted its position in Korn Ferry by 149.1% during the second quarter. Quarry LP now owns 1,380 shares of the business services provider’s stock worth $93,000 after buying an additional 826 shares during the period. Finally, Innealta Capital LLC acquired a new stake in Korn Ferry in the 2nd quarter worth about $101,000. 98.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. UBS Group lifted their price target on shares of Korn Ferry from $66.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, June 7th. Truist Financial restated a “buy” rating and set a $78.00 price objective (up previously from $74.00) on shares of Korn Ferry in a research note on Friday, June 14th. Robert W. Baird raised their target price on Korn Ferry from $72.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Finally, StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a report on Thursday, June 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Korn Ferry currently has an average rating of “Moderate Buy” and an average target price of $75.00.

Insider Buying and Selling at Korn Ferry

In related news, insider Michael Distefano sold 5,000 shares of Korn Ferry 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 of the company’s stock, valued at $3,687,031.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Robert P. Rozek sold 20,921 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $75.53, for a total transaction of $1,580,163.13. Following the transaction, the chief financial officer now owns 154,535 shares of the company’s stock, valued at approximately $11,672,028.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Distefano sold 5,000 shares of the business’s 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 of the company’s stock, valued at $3,687,031.44. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Korn Ferry Trading Down 1.7 %

Shares of NYSE:KFY opened at $73.93 on Wednesday. Korn Ferry has a twelve month low of $44.45 and a twelve month high of $76.63. The firm has a market cap of $3.83 billion, a P/E ratio of 22.96 and a beta of 1.54. The company has a 50 day moving average of $70.98 and a 200-day moving average of $67.16. 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 posted its quarterly earnings data on Thursday, September 5th. The business services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.06. Korn Ferry had a net margin of 6.68% and a return on equity of 13.73%. The company 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 earned $0.99 earnings per share. The business’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, 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. Investors of record on Thursday, September 19th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, September 19th. Korn Ferry’s payout ratio is presently 45.96%.

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.