Geode Capital Management LLC Acquires 28,014 Shares of Korn Ferry (NYSE:KFY)

Geode Capital Management LLC lifted its stake in Korn Ferry (NYSE:KFY) by 2.4% in the third quarter, HoldingsChannel.com reports. The fund owned 1,217,031 shares of the business services provider’s stock after purchasing an additional 28,014 shares during the period. Geode Capital Management LLC’s holdings in Korn Ferry were worth $91,587,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in KFY. Dimensional Fund Advisors LP grew its position in Korn Ferry by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,281,186 shares of the business services provider’s stock worth $220,296,000 after purchasing an additional 48,993 shares during the period. State Street Corp increased its position in Korn Ferry by 2.0% during the third quarter. State Street Corp now owns 2,069,906 shares of the business services provider’s stock valued at $156,503,000 after acquiring an additional 40,240 shares during the last quarter. Pacer Advisors Inc. bought a new position in Korn Ferry in the third quarter valued at about $103,546,000. Jennison Associates LLC boosted its position 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 purchasing an additional 115,523 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of Korn Ferry by 7.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 949,378 shares of the business services provider’s stock valued at $71,431,000 after purchasing an additional 62,385 shares during the period. 98.82% of the stock is owned by hedge funds and other institutional investors.

Korn Ferry Stock Performance

Shares of KFY opened at $66.60 on Friday. Korn Ferry has a 52 week low of $54.77 and a 52 week high of $80.64. The company has a quick ratio of 2.15, a current ratio of 2.07 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 14.23 and a beta of 1.56. The business has a 50-day simple moving average of $73.70 and a two-hundred day simple moving average of $70.94.

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

Korn Ferry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.48 dividend on an annualized basis and a yield of 2.22%. Korn Ferry’s dividend payout ratio is presently 31.62%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KFY. StockNews.com upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating in a research note on Tuesday. Truist Financial increased their price target on shares of Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Korn Ferry presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

Insider Transactions at Korn Ferry

In other news, insider Michael Distefano sold 5,000 shares of Korn Ferry stock in a transaction that occurred on Monday, September 23rd. The stock was 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 in the company, valued at approximately $3,687,031.44. The trade was a 8.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary D. Burnison sold 16,274 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $74.05, for a total value of $1,205,089.70. Following the sale, the chief executive officer now owns 356,844 shares in the company, valued at $26,424,298.20. The trade was a 4.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,280 shares of company stock valued at $6,193,956. 1.40% of the stock is currently owned by corporate 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.