Point72 Asset Management L.P. Buys Shares of 9,900 Korn Ferry (NYSE:KFY)

Point72 Asset Management L.P. purchased a new position in shares of Korn Ferry (NYSE:KFY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,900 shares of the business services provider’s stock, valued at approximately $665,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP raised its holdings in shares of Korn Ferry by 149.1% in the second quarter. Quarry LP now owns 1,380 shares of the business services provider’s stock valued at $93,000 after acquiring an additional 826 shares in the last quarter. Creative Planning increased its position in Korn Ferry by 62.4% during the 2nd quarter. Creative Planning now owns 16,950 shares of the business services provider’s stock valued at $1,138,000 after purchasing an additional 6,510 shares during the period. Algert Global LLC raised its holdings in shares of Korn Ferry by 418.6% in the 2nd quarter. Algert Global LLC now owns 134,781 shares of the business services provider’s stock valued at $9,049,000 after purchasing an additional 108,791 shares in the last quarter. Driehaus Capital Management LLC lifted its position in shares of Korn Ferry by 7.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 295,460 shares of the business services provider’s stock worth $19,837,000 after purchasing an additional 21,235 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Korn Ferry by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,720 shares of the business services provider’s stock worth $1,928,000 after purchasing an additional 814 shares during the period. Institutional investors own 98.82% of the company’s stock.

Insider Activity

In other Korn Ferry news, insider Michael Distefano sold 5,000 shares of the company’s 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 transaction, the insider now owns 50,954 shares in the company, valued at approximately $3,687,031.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Gary D. Burnison sold 16,274 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $74.05, for a total value of $1,205,089.70. Following the completion of the transaction, the chief executive officer now directly owns 356,844 shares in the company, valued at $26,424,298.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael Distefano sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $72.36, for a total value of $361,800.00. Following the completion of the sale, the insider now owns 50,954 shares in the company, valued at approximately $3,687,031.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,921 shares of company stock worth $5,942,296 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

Korn Ferry Trading Up 1.2 %

NYSE:KFY opened at $72.90 on Friday. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 22.64 and a beta of 1.54. Korn Ferry has a 52 week low of $44.45 and a 52 week high of $76.63. 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 firm has a 50 day moving average of $71.06 and a 200 day moving average of $67.24.

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

Korn Ferry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Thursday, September 19th will be paid a dividend of $0.37 per share. 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%.

Wall Street Analyst Weigh In

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

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.