Korn Ferry (NYSE:KFY) CEO Sells $2,795,242.68 in Stock

Korn Ferry (NYSE:KFY) CEO Gary D. Burnison sold 38,726 shares of Korn Ferry stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $72.18, for a total transaction of $2,795,242.68. Following the completion of the transaction, the chief executive officer now owns 273,118 shares of the company’s stock, valued at approximately $19,713,657.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Korn Ferry Stock Down 1.7 %

KFY stock traded down $1.26 during midday trading on Thursday, reaching $72.07. 209,401 shares of the company were exchanged, compared to its average volume of 364,483. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 22.29 and a beta of 1.54. 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 has a 1-year low of $44.45 and a 1-year high of $76.63. The stock’s 50-day simple moving average is $71.03 and its 200 day simple moving average is $67.21.

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

Korn Ferry Dividend Announcement

The company also recently announced 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. This represents a $1.48 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, September 19th. Korn Ferry’s payout ratio is currently 45.96%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake 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 buying an additional 205 shares during the last quarter. CWM LLC increased its holdings in shares of Korn Ferry by 97.3% in the 2nd quarter. CWM LLC now owns 890 shares of the business services provider’s stock valued at $60,000 after acquiring an additional 439 shares during the period. GAMMA Investing LLC increased its holdings in shares of Korn Ferry by 40.1% in the 1st quarter. GAMMA Investing LLC now owns 1,086 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 311 shares during the period. Quarry LP raised its position in Korn Ferry by 149.1% in the 2nd quarter. Quarry LP now owns 1,380 shares of the business services provider’s stock valued at $93,000 after purchasing an additional 826 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in Korn Ferry during the 2nd quarter worth $101,000. Hedge funds and other institutional investors own 98.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KFY. UBS Group lifted their target price on Korn Ferry from $66.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, June 7th. StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. Truist Financial reaffirmed 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. Finally, Robert W. Baird boosted their price target on shares of Korn Ferry from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Korn Ferry presently has an average rating of “Moderate Buy” and a consensus 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.