Pacer Advisors Inc. Cuts Position in Korn Ferry (NYSE:KFY)

Pacer Advisors Inc. trimmed its position in shares of Korn Ferry (NYSE:KFY) by 5.6% during the 4th quarter, Holdings Channel reports. The fund owned 1,299,146 shares of the business services provider’s stock after selling 77,063 shares during the period. Pacer Advisors Inc.’s holdings in Korn Ferry were worth $87,627,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KFY. EverSource Wealth Advisors LLC increased its stake in Korn Ferry by 112.0% during the second quarter. EverSource Wealth Advisors LLC now owns 388 shares of the business services provider’s stock worth $29,000 after acquiring an additional 205 shares during the last quarter. Quarry LP boosted its holdings in shares of Korn Ferry by 149.1% in the 2nd quarter. Quarry LP now owns 1,380 shares of the business services provider’s stock worth $93,000 after purchasing an additional 826 shares during the period. GAMMA Investing LLC increased its position in shares of Korn Ferry by 26.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,754 shares of the business services provider’s stock valued at $132,000 after purchasing an additional 362 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Korn Ferry during the 2nd quarter valued at $148,000. Finally, Blue Trust Inc. lifted its position in Korn Ferry by 1,083.4% in the third quarter. Blue Trust Inc. now owns 2,213 shares of the business services provider’s stock worth $167,000 after buying an additional 2,026 shares during the last quarter. 98.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KFY. StockNews.com upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating in a research report on Tuesday, December 17th. Truist Financial upped their price target on shares of Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Korn Ferry Stock Performance

Shares of Korn Ferry stock opened at $70.72 on Monday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average is $71.08 and its two-hundred day moving average is $71.39. Korn Ferry has a 52 week low of $57.73 and a 52 week high of $80.64. The company has a market capitalization of $3.65 billion, a PE ratio of 15.11 and a beta of 1.57.

Korn Ferry (NYSE:KFY) last posted 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. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The firm had revenue of $682.00 million for the quarter, compared to analysts’ expectations of $675.35 million. During the same period in the prior year, the business posted $0.97 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, analysts expect that Korn Ferry will post 4.75 earnings per share for the current year.

Korn Ferry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Friday, December 20th. Korn Ferry’s dividend payout ratio is presently 31.62%.

Insider Activity at Korn Ferry

In other Korn Ferry news, CEO Mark Arian sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 68,869 shares of the company’s stock, valued at approximately $4,975,096.56. This trade represents a 22.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is owned by company 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.