Trust Point Inc. Has $657,000 Stake in Korn Ferry (NYSE:KFY)

Trust Point Inc. cut its position in Korn Ferry (NYSE:KFY) by 41.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,742 shares of the business services provider’s stock after selling 6,849 shares during the quarter. Trust Point Inc.’s holdings in Korn Ferry were worth $657,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in KFY. State Street Corp lifted its stake in Korn Ferry by 2.0% during the third quarter. State Street Corp now owns 2,069,906 shares of the business services provider’s stock worth $156,503,000 after purchasing an additional 40,240 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of Korn Ferry during the 3rd quarter worth $103,546,000. Geode Capital Management LLC grew its position in Korn Ferry by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,217,031 shares of the business services provider’s stock valued at $91,587,000 after acquiring an additional 28,014 shares during the last quarter. Jennison Associates LLC raised its stake in Korn Ferry by 8.1% during the fourth quarter. Jennison Associates LLC now owns 1,067,813 shares of the business services provider’s stock worth $72,024,000 after acquiring an additional 79,808 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Korn Ferry by 7.0% in the third quarter. Thrivent Financial for Lutherans now owns 949,378 shares of the business services provider’s stock worth $71,431,000 after acquiring an additional 62,385 shares during the last quarter. Institutional investors own 98.82% of the company’s stock.

Insider Activity

In related news, CEO Mark Arian sold 20,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $72.24, for a total transaction of $1,444,800.00. Following the sale, the chief executive officer now owns 68,869 shares in the company, valued at $4,975,096.56. This represents a 22.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

Korn Ferry Stock Performance

Shares of Korn Ferry stock opened at $69.81 on Wednesday. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 14.92 and a beta of 1.57. Korn Ferry has a twelve month low of $57.80 and a twelve month high of $80.64. The company’s fifty day moving average is $70.20 and its 200 day moving average is $71.46. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.22.

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

Korn Ferry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Friday, December 20th. Korn Ferry’s dividend payout ratio is currently 31.62%.

Analysts Set New Price Targets

A number of research firms have weighed in on KFY. Truist Financial boosted their target price on shares of 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 upgraded Korn Ferry from a “hold” rating to a “buy” rating in a research 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.00.

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.