Bank of New York Mellon Corp Sells 28,554 Shares of Korn Ferry (NYSE:KFY)

Bank of New York Mellon Corp cut its stake in shares of Korn Ferry (NYSE:KFY - Free Report) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 875,728 shares of the business services provider's stock after selling 28,554 shares during the period. Bank of New York Mellon Corp owned about 1.69% of Korn Ferry worth $58,796,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Quest Partners LLC acquired a new stake in shares of Korn Ferry during the fourth quarter valued at about $29,000. GAMMA Investing LLC acquired a new stake in Korn Ferry during the 4th quarter worth approximately $45,000. CWM LLC grew its holdings in Korn Ferry by 97.3% during the 2nd 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. Quadrant Capital Group LLC increased its position in Korn Ferry by 90.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,060 shares of the business services provider's stock valued at $63,000 after acquiring an additional 503 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of Korn Ferry by 40.1% during the first quarter. Bessemer Group Inc. now owns 2,387 shares of the business services provider's stock valued at $157,000 after acquiring an additional 683 shares during the last quarter. 98.82% of the stock is currently owned by institutional investors.

Korn Ferry Trading Up 0.6 %

Shares of KFY stock traded up $0.45 during mid-day trading on Friday, hitting $73.05. The company's stock had a trading volume of 291,207 shares, compared to its average volume of 346,875. The company has a market cap of $3.78 billion, a PE ratio of 22.69 and a beta of 1.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 1.79. The company's fifty day simple moving average is $69.14 and its 200-day simple moving average is $65.61. Korn Ferry has a 52 week low of $44.45 and a 52 week high of $75.30.

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. Korn Ferry had a return on equity of 13.18% and a net margin of 6.05%. The firm had revenue of $690.80 million for the quarter, compared to analyst estimates of $687.36 million. During the same period in the previous year, the firm earned $1.01 earnings per share. The company's revenue was down 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Korn Ferry will post 4.81 earnings per share for the current fiscal year.

Korn Ferry Increases Dividend

The company also recently announced 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 is an increase from Korn Ferry's previous quarterly dividend of $0.33. This represents a $1.48 annualized dividend and a dividend yield of 2.03%. Korn Ferry's dividend payout ratio (DPR) is currently 45.96%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Korn Ferry

In other Korn Ferry news, CEO Mark Arian sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $66.73, for a total value of $333,650.00. Following the completion of the sale, the chief executive officer now owns 96,484 shares of the company's stock, valued at $6,438,377.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

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.