Point72 Asia Singapore Pte. Ltd. Lowers Holdings in Korn Ferry (NYSE:KFY)

Point72 Asia Singapore Pte. Ltd. trimmed its holdings in shares of Korn Ferry (NYSE:KFY) by 40.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,511 shares of the business services provider’s stock after selling 2,365 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Korn Ferry were worth $236,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Korn Ferry by 112.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 388 shares of the business services provider’s stock valued at $29,000 after buying an additional 205 shares in the last quarter. CWM LLC raised its position in Korn Ferry by 97.3% during the 2nd quarter. CWM LLC now owns 890 shares of the business services provider’s stock worth $60,000 after buying an additional 439 shares during the last quarter. GAMMA Investing LLC lifted its stake in Korn Ferry by 40.1% during the 1st quarter. GAMMA Investing LLC now owns 1,086 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 311 shares during the period. Quarry LP boosted its holdings in shares of Korn Ferry by 149.1% in the 2nd 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 during the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Korn Ferry in the second quarter worth $101,000. Institutional investors own 98.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a research note on Thursday, June 20th. UBS Group raised their price objective on Korn Ferry from $66.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, June 7th. Robert W. Baird increased their target price on Korn Ferry from $72.00 to $79.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Finally, 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 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 stock. According to MarketBeat.com, Korn Ferry currently has a consensus rating of “Moderate Buy” and an average target price of $75.00.

Insider Activity

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 value of $1,580,163.13. Following the completion of the sale, the chief financial officer now directly owns 154,535 shares of the company’s stock, valued at $11,672,028.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Michael Distefano sold 5,000 shares of the firm’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 sale, the insider now owns 50,954 shares of the company’s stock, valued at $3,687,031.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the chief financial officer now owns 154,535 shares in the company, valued at $11,672,028.55. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Korn Ferry Trading Down 1.7 %

Shares of KFY stock opened at $73.93 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.23. Korn Ferry has a twelve month low of $44.45 and a twelve month high of $76.63. The company’s 50-day moving average price is $70.98 and its 200-day moving average price is $67.16. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 22.96 and a beta of 1.54.

Korn Ferry (NYSE:KFY) last announced its quarterly earnings results on Thursday, September 5th. The business services provider reported $1.18 earnings per share (EPS) 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 business had revenue of $682.80 million during the quarter, compared to the consensus estimate of $663.84 million. During the same quarter last year, the firm earned $0.99 EPS. The business’s revenue was down 3.3% compared to the same quarter last year. As a group, equities analysts predict that Korn Ferry will post 4.84 earnings per share for the current year.

Korn Ferry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, September 19th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Thursday, September 19th. Korn Ferry’s dividend payout ratio is presently 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.