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

Geode Capital Management LLC grew its holdings in shares of Korn Ferry (NYSE:KFY - Free Report) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,217,031 shares of the business services provider's stock after buying an additional 28,014 shares during the period. Geode Capital Management LLC owned 2.34% of Korn Ferry worth $91,587,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KFY. Arizona State Retirement System raised its stake in Korn Ferry by 1.2% during the second quarter. Arizona State Retirement System now owns 14,608 shares of the business services provider's stock valued at $981,000 after buying an additional 168 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Korn Ferry by 112.0% during the second quarter. EverSource Wealth Advisors LLC now owns 388 shares of the business services provider's stock valued at $29,000 after acquiring an additional 205 shares in the last quarter. Azzad Asset Management Inc. ADV raised its position in shares of Korn Ferry by 1.5% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 15,210 shares of the business services provider's stock worth $1,144,000 after purchasing an additional 231 shares during the last quarter. Simplicity Wealth LLC boosted its stake in Korn Ferry by 4.8% in the 3rd quarter. Simplicity Wealth LLC now owns 6,146 shares of the business services provider's stock worth $462,000 after purchasing an additional 283 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its stake in Korn Ferry by 6.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 4,923 shares of the business services provider's stock worth $370,000 after purchasing an additional 294 shares in the last quarter. 98.82% of the stock is owned by hedge funds and other institutional investors.

Korn Ferry Stock Performance

NYSE:KFY traded down $0.04 during mid-day trading on Friday, reaching $66.56. The company's stock had a trading volume of 1,095,450 shares, compared to its average volume of 360,393. The company has a current ratio of 2.07, a quick ratio of 2.15 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.43 billion, a P/E ratio of 14.22 and a beta of 1.56. The firm's fifty day moving average price is $73.70 and its two-hundred day moving average price is $70.94. Korn Ferry has a 12-month low of $54.77 and a 12-month high of $80.64.

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

Korn Ferry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 annualized dividend and a dividend yield of 2.22%. Korn Ferry's payout ratio is 31.62%.

Analyst Ratings Changes

Several research analysts have issued reports on KFY shares. Truist Financial lifted their target price on shares of Korn Ferry from $78.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, December 6th. StockNews.com raised shares of Korn Ferry from a "hold" rating to a "buy" rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Korn Ferry has an average rating of "Moderate Buy" and a consensus target price of $77.00.

Insider Transactions at Korn Ferry

In other news, insider Michael Distefano sold 5,000 shares of the business's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $72.36, for a total transaction of $361,800.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark Arian sold 20,000 shares of the company's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $72.24, for a total value of $1,444,800.00. Following the completion of the sale, the chief executive officer now owns 68,869 shares of the company's stock, valued at $4,975,096.56. This trade represents a 22.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,280 shares of company stock worth $6,193,956 in the last ninety days. Insiders own 1.40% of the company's stock.

Korn Ferry 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.