Crossmark Global Holdings Inc. Sells 523 Shares of Korn Ferry (NYSE:KFY)

Crossmark Global Holdings Inc. lowered its position in shares of Korn Ferry (NYSE:KFY) by 12.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,796 shares of the business services provider’s stock after selling 523 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Korn Ferry were worth $255,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Innealta Capital LLC acquired a new stake in shares of Korn Ferry during the second quarter worth $101,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Korn Ferry by 13.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,010 shares of the business services provider’s stock worth $739,000 after purchasing an additional 1,342 shares during the period. Tributary Capital Management LLC grew its stake in shares of Korn Ferry by 0.3% during the second quarter. Tributary Capital Management LLC now owns 355,690 shares of the business services provider’s stock worth $23,881,000 after purchasing an additional 1,046 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Korn Ferry by 1.2% during the second quarter. Louisiana State Employees Retirement System now owns 26,300 shares of the business services provider’s stock worth $1,766,000 after purchasing an additional 300 shares during the period. Finally, SummerHaven Investment Management LLC grew its stake in shares of Korn Ferry by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 14,320 shares of the business services provider’s stock worth $961,000 after purchasing an additional 229 shares during the period. Institutional investors own 98.82% of the company’s stock.

Insider Activity

In other news, CEO Mark Arian sold 5,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $66.01, for a total value of $330,050.00. Following the sale, the chief executive officer now directly owns 91,484 shares in the company, valued at $6,038,858.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

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

Korn Ferry Stock Up 0.1 %

NYSE:KFY opened at $71.29 on Thursday. Korn Ferry has a 1 year low of $44.45 and a 1 year high of $75.30. The company has a current ratio of 1.79, a quick ratio of 1.83 and a debt-to-equity ratio of 0.23. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 22.14 and a beta of 1.54. The stock has a 50-day moving average price of $69.43 and a two-hundred day moving average price of $65.87.

Korn Ferry (NYSE:KFY) last issued its quarterly earnings results on Thursday, June 13th. The business services provider reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.13. The company had revenue of $690.80 million for the quarter, compared to analyst estimates of $687.36 million. Korn Ferry had a return on equity of 13.18% and a net margin of 6.05%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 earnings per share. As a group, equities analysts expect that Korn Ferry will post 4.81 earnings per share for the current year.

Korn Ferry Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 3rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.08%. This is a positive change from Korn Ferry’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, July 3rd. Korn Ferry’s payout ratio is 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.