Allspring Global Investments Holdings LLC Sells 27,763 Shares of Korn Ferry (NYSE:KFY)

Allspring Global Investments Holdings LLC decreased its stake in shares of Korn Ferry (NYSE:KFY - Free Report) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,355,939 shares of the business services provider's stock after selling 27,763 shares during the period. Allspring Global Investments Holdings LLC owned about 2.62% of Korn Ferry worth $91,038,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. New York State Common Retirement Fund boosted its holdings in Korn Ferry by 3.7% in the fourth quarter. New York State Common Retirement Fund now owns 22,416 shares of the business services provider's stock worth $1,330,000 after purchasing an additional 810 shares during the period. GAMMA Investing LLC bought a new stake in shares of Korn Ferry during the 4th quarter valued at about $45,000. SummerHaven Investment Management LLC raised its stake in Korn Ferry by 1.4% during the fourth quarter. SummerHaven Investment Management LLC now owns 13,925 shares of the business services provider's stock worth $826,000 after acquiring an additional 188 shares during the period. Victory Capital Management Inc. lifted its holdings in Korn Ferry by 1,069.5% in the fourth quarter. Victory Capital Management Inc. now owns 569,154 shares of the business services provider's stock worth $33,779,000 after acquiring an additional 520,486 shares during the last quarter. Finally, Heritage Wealth Management LLC acquired a new position in Korn Ferry in the fourth quarter valued at approximately $240,000. 98.82% of the stock is currently owned by institutional investors and hedge funds.

Korn Ferry Price Performance

Shares of NYSE KFY traded down $0.43 during mid-day trading on Tuesday, reaching $71.87. 178,026 shares of the company traded hands, compared to its average volume of 349,149. Korn Ferry has a fifty-two week low of $44.45 and a fifty-two week high of $75.30. The firm has a market cap of $3.72 billion, a PE ratio of 22.32 and a beta of 1.54. The stock has a fifty day simple moving average of $68.85 and a 200-day simple moving average of $65.38. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.79 and a quick ratio of 1.83.

Korn Ferry (NYSE:KFY - Get Free Report) last issued its quarterly earnings results on Thursday, June 13th. The business services provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.13. The company had revenue of $690.80 million for the quarter, compared to analysts' expectations of $687.36 million. Korn Ferry had a return on equity of 13.18% and a net margin of 6.05%. The firm's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period last year, the firm earned $1.01 EPS. Equities research analysts anticipate that Korn Ferry will post 4.81 EPS for the current fiscal year.

Korn Ferry Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 3rd were paid a $0.37 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $1.48 annualized dividend and a dividend yield of 2.06%. This is a boost from Korn Ferry's previous quarterly dividend of $0.33. Korn Ferry's payout ratio is currently 45.96%.

Insider Buying and Selling

In other news, CEO Mark Arian sold 5,000 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $66.01, for a total transaction of $330,050.00. Following the completion of the sale, the chief executive officer now owns 91,484 shares in the company, valued at approximately $6,038,858.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KFY. Robert W. Baird raised their price target on Korn Ferry from $72.00 to $79.00 and gave the stock an "outperform" rating in a report on Friday, June 14th. StockNews.com upgraded shares of Korn Ferry from a "hold" rating to a "buy" rating in a research report on Thursday, June 20th. Truist Financial restated a "buy" rating and issued a $78.00 price target (up previously from $74.00) on shares of Korn Ferry in a research note on Friday, June 14th. Finally, UBS Group boosted their price objective on Korn Ferry from $66.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, June 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $75.00.

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.