Hsbc Holdings PLC Buys 15,575 Shares of Korn Ferry (NYSE:KFY)

Hsbc Holdings PLC boosted its position in Korn Ferry (NYSE:KFY) by 141.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,598 shares of the business services provider’s stock after purchasing an additional 15,575 shares during the quarter. Hsbc Holdings PLC owned approximately 0.05% of Korn Ferry worth $1,789,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of KFY. Janney Montgomery Scott LLC purchased a new stake in Korn Ferry during the fourth quarter valued at approximately $711,000. Norges Bank purchased a new stake in shares of Korn Ferry during the 4th quarter valued at $36,347,000. Quest Partners LLC acquired a new stake in shares of Korn Ferry in the 4th quarter worth $29,000. US Bancorp DE grew its stake in Korn Ferry by 61.3% during the 4th quarter. US Bancorp DE now owns 27,213 shares of the business services provider’s stock worth $1,615,000 after buying an additional 10,344 shares during the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in Korn Ferry during the 4th quarter valued at about $371,000. 98.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Korn Ferry Price Performance

Shares of NYSE:KFY opened at $72.99 on Friday. Korn Ferry has a twelve month low of $44.45 and a twelve month high of $76.63. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.23. The company has a market cap of $3.80 billion, a PE ratio of 22.67 and a beta of 1.54. The company’s 50 day moving average is $70.78 and its 200 day moving average is $66.91.

Korn Ferry (NYSE:KFY) last released its quarterly earnings data on Thursday, September 5th. The business services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the business earned $0.99 earnings per share. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, sell-side analysts forecast that Korn Ferry will post 4.84 EPS for the current year.

Korn Ferry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Thursday, September 19th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.03%. Korn Ferry’s payout ratio is 45.96%.

Insider Buying and Selling

In other Korn Ferry news, insider Michael Distefano sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $72.36, for a total value of $361,800.00. Following the completion of the transaction, the insider now directly owns 50,954 shares of the company’s stock, valued at $3,687,031.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Michael Distefano sold 5,000 shares of Korn Ferry stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $72.36, for a total transaction of $361,800.00. Following the completion of the transaction, the insider now directly owns 50,954 shares of the company’s stock, valued at approximately $3,687,031.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Robert P. Rozek sold 20,921 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $75.53, for a total transaction of $1,580,163.13. Following the sale, the chief financial officer now directly owns 154,535 shares in the company, valued at $11,672,028.55. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

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.