State Street Corp Grows Stock Holdings in Korn Ferry (NYSE:KFY)

State Street Corp grew its position in Korn Ferry (NYSE:KFY - Free Report) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,069,906 shares of the business services provider's stock after acquiring an additional 40,240 shares during the quarter. State Street Corp owned about 3.98% of Korn Ferry worth $156,503,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in KFY. CWM LLC boosted its position in 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. Leeward Investments LLC MA grew its position in shares of Korn Ferry by 5.6% in the second quarter. Leeward Investments LLC MA now owns 249,740 shares of the business services provider's stock valued at $16,768,000 after purchasing an additional 13,226 shares in the last quarter. Summit Global Investments increased its holdings in shares of Korn Ferry by 2.5% in the second quarter. Summit Global Investments now owns 22,609 shares of the business services provider's stock valued at $1,518,000 after purchasing an additional 553 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in Korn Ferry by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 14,320 shares of the business services provider's stock worth $961,000 after buying an additional 229 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in Korn Ferry by 1.2% during the second quarter. Louisiana State Employees Retirement System now owns 26,300 shares of the business services provider's stock worth $1,766,000 after buying an additional 300 shares in the last quarter. 98.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KFY. Truist Financial raised their target price on Korn Ferry from $78.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. StockNews.com cut shares of Korn Ferry from a "buy" rating to a "hold" rating in a research report on Monday, December 9th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $77.00.

Insider Activity at Korn Ferry

In other Korn Ferry news, CEO Gary D. Burnison sold 16,274 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were 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 represents a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Debra J. Perry sold 5,280 shares of the firm'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 completion of the transaction, the director now directly owns 46,180 shares of the company's stock, valued at approximately $3,384,994. The trade was a 10.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,201 shares of company stock worth $6,329,320. Insiders own 1.40% of the company's stock.

Korn Ferry Trading Down 0.3 %

KFY stock traded down $0.22 during midday trading on Friday, hitting $70.11. 362,706 shares of the company's stock were exchanged, compared to its average volume of 355,434. Korn Ferry has a 1-year low of $54.77 and a 1-year high of $80.64. 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 capitalization of $3.62 billion, a PE ratio of 14.99 and a beta of 1.56. The business has a 50-day simple moving average of $73.96 and a two-hundred day simple moving average of $70.88.

Korn Ferry (NYSE:KFY - Get Free Report) 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 firm had revenue of $682.00 million during the quarter, compared to the consensus estimate of $675.35 million. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The company's quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the company earned $0.97 EPS. On average, sell-side analysts predict that Korn Ferry will post 4.75 EPS for the current fiscal year.

Korn Ferry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be given 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 dividend yield of 2.11%. Korn Ferry's payout ratio is currently 31.62%.

About Korn Ferry

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.