Korn Ferry (NYSE:KFY) CEO Sells $2,795,242.68 in Stock

Korn Ferry (NYSE:KFY) CEO Gary D. Burnison sold 38,726 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $72.18, for a total value of $2,795,242.68. Following the sale, the chief executive officer now owns 273,118 shares of the company’s stock, valued at $19,713,657.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Korn Ferry Trading Down 1.7 %

Shares of KFY traded down $1.26 during mid-day trading on Thursday, reaching $72.07. The stock had a trading volume of 209,401 shares, compared to its average volume of 364,483. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.15 and a quick ratio of 2.15. The business’s fifty day moving average is $71.03 and its 200 day moving average is $67.21. Korn Ferry has a 52-week low of $44.45 and a 52-week high of $76.63. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 22.29 and a beta of 1.54.

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

Korn Ferry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, September 19th will be given a $0.37 dividend. The ex-dividend date is Thursday, September 19th. This represents a $1.48 dividend on an annualized basis and a yield of 2.05%. Korn Ferry’s dividend payout ratio is currently 45.96%.

Hedge Funds Weigh In On Korn Ferry

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its holdings in 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 purchasing an additional 205 shares during the last quarter. CWM LLC boosted its position in shares of Korn Ferry by 97.3% during the second 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 period. GAMMA Investing LLC boosted its position in shares of Korn Ferry by 40.1% during the first quarter. GAMMA Investing LLC now owns 1,086 shares of the business services provider’s stock worth $71,000 after buying an additional 311 shares during the period. Quarry LP grew its stake 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 buying an additional 826 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Korn Ferry in the 2nd quarter valued at $101,000. 98.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Korn Ferry Company 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.