JPMorgan Chase & Co. Boosts Stock Position in Korn Ferry (NYSE:KFY)

JPMorgan Chase & Co. lifted its stake in Korn Ferry (NYSE:KFY) by 193.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 425,968 shares of the business services provider’s stock after buying an additional 281,024 shares during the quarter. JPMorgan Chase & Co.’s holdings in Korn Ferry were worth $32,050,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of KFY. EverSource Wealth Advisors LLC raised its holdings in shares of Korn Ferry by 112.0% during the second quarter. EverSource Wealth Advisors LLC now owns 388 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 205 shares during the last quarter. Quarry LP grew its position in Korn Ferry by 149.1% in the second quarter. Quarry LP now owns 1,380 shares of the business services provider’s stock worth $93,000 after acquiring an additional 826 shares during the period. GAMMA Investing LLC boosted its position in shares of Korn Ferry by 26.0% during the third quarter. GAMMA Investing LLC now owns 1,754 shares of the business services provider’s stock worth $132,000 after buying an additional 362 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Korn Ferry during the second quarter worth $148,000. Finally, Blue Trust Inc. boosted its position in shares of Korn Ferry by 1,083.4% during the third quarter. Blue Trust Inc. now owns 2,213 shares of the business services provider’s stock worth $167,000 after buying an additional 2,026 shares during the period. Institutional investors and hedge funds own 98.82% of the company’s stock.

Korn Ferry Stock Down 1.4 %

Shares of Korn Ferry stock opened at $67.11 on Tuesday. The company has a fifty day moving average price of $72.86 and a 200 day moving average price of $71.18. The company has a current ratio of 2.07, a quick ratio of 2.15 and a debt-to-equity ratio of 0.22. Korn Ferry has a twelve month low of $54.77 and a twelve month high of $80.64. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 14.34 and a beta of 1.57.

Korn Ferry (NYSE:KFY) last announced its earnings results on Thursday, December 5th. The business services provider reported $1.21 earnings per share for the quarter, meeting the consensus estimate of $1.21. The company had revenue of $682.00 million during the quarter, compared to the consensus estimate of $675.35 million. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $0.97 earnings per share. Equities research analysts forecast that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KFY. Truist Financial increased their price objective on Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, December 6th. StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Insider Buying and Selling

In other news, CEO Mark Arian sold 20,000 shares of Korn Ferry stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $72.24, for a total transaction of $1,444,800.00. Following the sale, the chief executive officer now owns 68,869 shares of the company’s stock, valued at approximately $4,975,096.56. The trade was a 22.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Debra J. Perry sold 5,280 shares of Korn Ferry 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 sale, the director now directly owns 46,180 shares in the company, valued at approximately $3,384,994. This trade represents a 10.26 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

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.