Tidal Investments LLC Trims Position in Korn Ferry (NYSE:KFY)

Tidal Investments LLC lowered its stake in shares of Korn Ferry (NYSE:KFY) by 9.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,837 shares of the business services provider’s stock after selling 607 shares during the quarter. Tidal Investments LLC’s holdings in Korn Ferry were worth $439,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in shares of Korn Ferry by 1.5% in the 2nd 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 during the last quarter. State Street Corp lifted its holdings in shares of Korn Ferry by 2.0% during the third quarter. State Street Corp now owns 2,069,906 shares of the business services provider’s stock worth $156,503,000 after purchasing an additional 40,240 shares during the period. Pacer Advisors Inc. purchased a new position in Korn Ferry in the 3rd quarter valued at $103,546,000. Geode Capital Management LLC grew its position in Korn Ferry by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,217,031 shares of the business services provider’s stock valued at $91,587,000 after buying an additional 28,014 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in Korn Ferry by 13.2% in the 3rd quarter. Jennison Associates LLC now owns 988,005 shares of the business services provider’s stock valued at $74,337,000 after buying an additional 115,523 shares during the period. Institutional investors and hedge funds own 98.82% of the company’s stock.

Korn Ferry Stock Performance

NYSE:KFY opened at $66.96 on Tuesday. The firm’s fifty day simple moving average is $73.48 and its 200-day simple moving average is $71.05. The company has a quick ratio of 2.15, a current ratio of 2.07 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.45 billion, a PE ratio of 14.31 and a beta of 1.56. Korn Ferry has a fifty-two week low of $54.77 and a fifty-two week high of $80.64.

Korn Ferry (NYSE:KFY) last issued its earnings results on Thursday, December 5th. The business services provider reported $1.21 earnings per share for the quarter, hitting the consensus estimate of $1.21. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The company had revenue of $682.00 million for the quarter, compared to analyst estimates of $675.35 million. During the same period in the prior year, the business posted $0.97 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. Analysts expect that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.48 dividend on an annualized basis and a yield of 2.21%. Korn Ferry’s payout ratio is 31.62%.

Insider Buying and Selling at Korn Ferry

In other Korn Ferry news, CEO Mark Arian sold 20,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $72.24, for a total value of $1,444,800.00. Following the sale, the chief executive officer now owns 68,869 shares of the company’s stock, valued at $4,975,096.56. This represents a 22.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary D. Burnison sold 38,726 shares of the 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 sale, the chief executive officer now owns 273,118 shares in the company, valued at $19,713,657.24. This represents a 12.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 80,280 shares of company stock valued at $5,832,156. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on KFY shares. StockNews.com raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a report on Tuesday, December 17th. Truist Financial lifted their price objective on Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, December 6th. 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

Korn Ferry 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.