ProShare Advisors LLC Cuts Stock Holdings in Korn Ferry (NYSE:KFY)

ProShare Advisors LLC reduced its position in Korn Ferry (NYSE:KFY) by 23.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,035 shares of the business services provider’s stock after selling 2,494 shares during the period. ProShare Advisors LLC’s holdings in Korn Ferry were worth $539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in KFY. Circumference Group LLC purchased a new stake in shares of Korn Ferry during the 4th quarter worth about $2,131,000. Invenomic Capital Management LP lifted its position in shares of Korn Ferry by 23.0% during the 4th quarter. Invenomic Capital Management LP now owns 54,134 shares of the business services provider’s stock valued at $3,213,000 after buying an additional 10,124 shares in the last quarter. Cim Investment Management Inc. acquired a new stake in Korn Ferry in the 4th quarter valued at $204,000. Quadrature Capital Ltd purchased a new stake in Korn Ferry in the 4th quarter worth $560,000. Finally, GAMMA Investing LLC increased its holdings in Korn Ferry by 40.1% in the 1st quarter. GAMMA Investing LLC now owns 1,086 shares of the business services provider’s stock worth $71,000 after acquiring an additional 311 shares in the last quarter. 98.82% of the stock is owned by hedge funds and other institutional investors.

Korn Ferry Price Performance

Shares of NYSE KFY opened at $75.27 on Tuesday. The firm has a 50-day simple moving average of $70.93 and a 200-day simple moving average of $67.09. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 23.38 and a beta of 1.54. Korn Ferry has a 52 week low of $44.45 and a 52 week high of $76.63.

Korn Ferry (NYSE:KFY) last released its quarterly earnings data on Thursday, September 5th. The business services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.06. The company had revenue of $682.80 million during the quarter, compared to the consensus estimate of $663.84 million. Korn Ferry had a net margin of 6.68% and a return on equity of 13.73%. Korn Ferry’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 EPS. On average, equities analysts predict that Korn Ferry will post 4.84 earnings per share for the current fiscal year.

Korn Ferry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, September 19th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, September 19th. Korn Ferry’s payout ratio is currently 45.96%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Korn Ferry

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