Korn Ferry (NYSE:KFY) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC increased its position in shares of Korn Ferry (NYSE:KFY) by 12.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,123 shares of the business services provider’s stock after purchasing an additional 1,991 shares during the quarter. Empowered Funds LLC’s holdings in Korn Ferry were worth $1,222,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. acquired a new stake in shares of Korn Ferry during the third quarter worth $103,546,000. JPMorgan Chase & Co. grew its position in shares of Korn Ferry by 193.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider’s stock valued at $32,050,000 after buying an additional 281,024 shares during the last quarter. Barclays PLC raised its stake in Korn Ferry by 129.0% during the third quarter. Barclays PLC now owns 239,937 shares of the business services provider’s stock worth $18,053,000 after acquiring an additional 135,148 shares during the period. Jennison Associates LLC lifted its holdings in Korn Ferry by 13.2% in the third quarter. Jennison Associates LLC now owns 988,005 shares of the business services provider’s stock worth $74,337,000 after acquiring an additional 115,523 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Korn Ferry in the third quarter valued at approximately $6,480,000. Institutional investors and hedge funds own 98.82% of the company’s stock.

Korn Ferry Price Performance

NYSE KFY opened at $66.92 on Monday. The company has a 50-day moving average price of $68.73 and a two-hundred day moving average price of $71.23. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 14.30 and a beta of 1.57. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22. Korn Ferry has a 52 week low of $57.91 and a 52 week high of $80.64.

Korn Ferry (NYSE:KFY) last issued its quarterly earnings data on Thursday, December 5th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.21. The business had revenue of $682.00 million during the quarter, compared to analyst estimates of $675.35 million. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 EPS. Analysts forecast that Korn Ferry will post 4.75 EPS for the current year.

Korn Ferry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, December 20th. Korn Ferry’s dividend payout ratio is currently 31.62%.

Analyst Ratings Changes

KFY has been the topic of a number of research reports. StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a research report on Tuesday, December 17th. Truist Financial upped their price objective on Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Korn Ferry presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Insider Activity at Korn Ferry

In related news, CEO Mark Arian sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $72.24, for a total transaction of $1,444,800.00. Following the transaction, the chief executive officer now owns 68,869 shares in the company, valued at $4,975,096.56. This trade represents a 22.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

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.