JPMorgan Chase & Co. Increases Stake in Korn Ferry (NYSE:KFY)

JPMorgan Chase & Co. raised its holdings in shares of Korn Ferry (NYSE:KFY - Free Report) by 193.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 425,968 shares of the business services provider's stock after acquiring an additional 281,024 shares during the period. JPMorgan Chase & Co. owned approximately 0.83% of Korn Ferry worth $32,050,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Seven Eight Capital LP increased its holdings in Korn Ferry by 216.4% in the second quarter. Seven Eight Capital LP now owns 25,049 shares of the business services provider's stock valued at $1,682,000 after buying an additional 17,132 shares in the last quarter. Vestcor Inc increased its stake in shares of Korn Ferry by 323.7% in the 3rd quarter. Vestcor Inc now owns 18,487 shares of the business services provider's stock valued at $1,391,000 after purchasing an additional 14,124 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Korn Ferry by 7.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 949,378 shares of the business services provider's stock worth $71,431,000 after purchasing an additional 62,385 shares during the period. Quest Partners LLC purchased a new position in Korn Ferry during the second quarter worth approximately $653,000. Finally, Driehaus Capital Management LLC grew its holdings in Korn Ferry by 7.7% in the second quarter. Driehaus Capital Management LLC now owns 295,460 shares of the business services provider's stock valued at $19,837,000 after purchasing an additional 21,235 shares during the period. 98.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Truist Financial increased their target price on Korn Ferry from $78.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, December 6th. StockNews.com raised shares of Korn Ferry from a "hold" rating to a "buy" rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Korn Ferry currently has a consensus rating of "Moderate Buy" and an average target price of $77.00.

Insider Buying and Selling at Korn Ferry

In related news, Director Debra J. Perry sold 5,280 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $73.30, for a total transaction of $387,024.00. Following the sale, the director now directly owns 46,180 shares in the company, valued at approximately $3,384,994. This represents a 10.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the chief executive officer now directly owns 68,869 shares in the company, valued at approximately $4,975,096.56. This trade represents a 22.51 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Korn Ferry Trading Down 1.2 %

Korn Ferry stock traded down $0.82 during trading on Tuesday, reaching $66.22. 258,554 shares of the company were exchanged, compared to its average volume of 305,064. The stock's 50 day simple moving average is $72.77 and its two-hundred day simple moving average is $71.16. The company has a market capitalization of $3.42 billion, a P/E ratio of 14.15 and a beta of 1.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.07 and a quick ratio of 2.15. Korn Ferry has a 52-week low of $54.77 and a 52-week 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 earnings per share for the quarter, meeting the consensus estimate of $1.21. The firm had revenue of $682.00 million for the quarter, compared to analysts' expectations of $675.35 million. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The company's revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS. On average, equities research analysts expect that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be issued a $0.37 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.48 annualized dividend and a yield of 2.23%. Korn Ferry's dividend payout ratio (DPR) is presently 31.62%.

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.