Pitcairn Co. Reduces Holdings in Korn Ferry (NYSE:KFY)

Pitcairn Co. reduced its position in shares of Korn Ferry (NYSE:KFY) by 10.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,307 shares of the business services provider’s stock after selling 937 shares during the period. Pitcairn Co.’s holdings in Korn Ferry were worth $625,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in KFY. EverSource Wealth Advisors LLC lifted 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 worth $29,000 after buying an additional 205 shares in the last quarter. CWM LLC increased 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 acquiring an additional 439 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Korn Ferry by 28.2% in the second quarter. GAMMA Investing LLC now owns 1,392 shares of the business services provider’s stock worth $93,000 after acquiring an additional 306 shares in the last quarter. Quarry LP boosted its holdings in 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 purchasing an additional 826 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in Korn Ferry during the 2nd quarter valued at approximately $101,000. 98.82% of the stock is currently owned by hedge funds and other institutional investors.

Korn Ferry Stock Performance

Shares of KFY opened at $79.39 on Tuesday. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of 22.68 and a beta of 1.55. 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 business’s 50 day moving average is $73.59 and its two-hundred day moving average is $70.04. Korn Ferry has a 52-week low of $50.63 and a 52-week high of $80.64.

Korn Ferry (NYSE:KFY) last posted its quarterly earnings results on Thursday, September 5th. The business services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.06. The firm had revenue of $682.80 million for 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 firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.99 earnings per share. Analysts forecast that Korn Ferry will post 4.84 EPS for the current fiscal year.

Korn Ferry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, September 19th were paid a $0.37 dividend. The ex-dividend date was Thursday, September 19th. This represents a $1.48 dividend on an annualized basis and a yield of 1.86%. Korn Ferry’s dividend payout ratio (DPR) is 42.29%.

Insider Activity at Korn Ferry

In other Korn Ferry news, insider Michael Distefano sold 5,000 shares of Korn Ferry stock in a transaction 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 transaction, the insider now owns 50,954 shares of the company’s stock, valued at $3,687,031.44. The trade was a 8.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gary D. Burnison sold 16,274 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $74.05, for a total transaction of $1,205,089.70. Following the sale, the chief executive officer now directly owns 356,844 shares in the company, valued at $26,424,298.20. This trade represents a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,201 shares of company stock valued at $6,329,320 over the last three months. 1.40% of the stock is owned by insiders.

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.