Jane Street Group LLC Sells 74,280 Shares of Korn Ferry (NYSE:KFY)

Jane Street Group LLC cut its holdings in shares of Korn Ferry (NYSE:KFY) by 82.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,242 shares of the business services provider’s stock after selling 74,280 shares during the quarter. Jane Street Group LLC’s holdings in Korn Ferry were worth $1,222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its stake in Korn Ferry by 2.0% during the 3rd quarter. State Street Corp now owns 2,069,906 shares of the business services provider’s stock worth $156,503,000 after acquiring an additional 40,240 shares during the period. Petrus Trust Company LTA grew its holdings in shares of Korn Ferry by 134.7% during the 3rd quarter. Petrus Trust Company LTA now owns 17,850 shares of the business services provider’s stock worth $1,343,000 after purchasing an additional 10,245 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Korn Ferry by 25.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 12,418 shares of the business services provider’s stock worth $934,000 after purchasing an additional 2,518 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Korn Ferry by 17.3% in the third quarter. HighTower Advisors LLC now owns 5,430 shares of the business services provider’s stock worth $407,000 after purchasing an additional 800 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in Korn Ferry in the third quarter valued at about $6,480,000. 98.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented 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 shares of Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, December 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.00.

Insider Activity at Korn Ferry

In other Korn Ferry news, Director Debra J. Perry sold 5,280 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $73.30, for a total value of $387,024.00. Following the completion of the transaction, the director now directly owns 46,180 shares in the company, valued at approximately $3,384,994. This represents a 10.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gary D. Burnison sold 38,726 shares of Korn Ferry stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $72.18, for a total transaction of $2,795,242.68. Following the transaction, the chief executive officer now owns 273,118 shares in the company, valued at approximately $19,713,657.24. This trade represents a 12.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,280 shares of company stock valued at $5,832,156 in the last 90 days. 1.40% of the stock is owned by corporate insiders.

Korn Ferry Stock Performance

Korn Ferry stock opened at $67.39 on Friday. 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 $3.48 billion, a PE ratio of 14.40 and a beta of 1.56. Korn Ferry has a 12-month low of $54.77 and a 12-month high of $80.64. The business’s 50-day moving average price is $73.14 and its two-hundred day moving average price is $71.13.

Korn Ferry (NYSE:KFY) last announced its quarterly earnings results on Thursday, December 5th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.21. The company had revenue of $682.00 million for the quarter, compared to analyst estimates of $675.35 million. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.97 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, December 20th. Korn Ferry’s payout ratio is 31.62%.

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.