TIAA CREF Investment Management LLC trimmed its stake in Korn/Ferry International (NYSE:KFY) by 6.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 268,351 shares of the business services provider’s stock after selling 17,026 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.47% of Korn/Ferry International worth $9,266,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of KFY. Bank of Montreal Can lifted its stake in Korn/Ferry International by 1.7% in the second quarter. Bank of Montreal Can now owns 3,166 shares of the business services provider’s stock valued at $110,000 after buying an additional 52 shares during the last quarter. Riverhead Capital Management LLC raised its stake in shares of Korn/Ferry International by 80.5% during the second quarter. Riverhead Capital Management LLC now owns 3,430 shares of the business services provider’s stock valued at $118,000 after purchasing an additional 1,530 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Korn/Ferry International by 26.7% during the second quarter. SG Americas Securities LLC now owns 4,161 shares of the business services provider’s stock valued at $144,000 after purchasing an additional 878 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Korn/Ferry International during the first quarter valued at about $156,000. Finally, Highbridge Capital Management LLC bought a new stake in Korn/Ferry International in the first quarter worth about $246,000. Institutional investors own 88.92% of the company’s stock.
Korn/Ferry International (KFY) opened at 40.10 on Tuesday. Korn/Ferry International has a one year low of $19.94 and a one year high of $40.64. The stock’s 50 day moving average price is $37.26 and its 200-day moving average price is $33.92. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 20.96 and a beta of 1.40.
Korn/Ferry International (NYSE:KFY) last announced its quarterly earnings data on Wednesday, September 6th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. Korn/Ferry International had a return on equity of 10.45% and a net margin of 7.09%. The firm had revenue of $401.25 million for the quarter, compared to analysts’ expectations of $392.91 million. During the same period last year, the firm earned $0.52 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities research analysts expect that Korn/Ferry International will post $2.45 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Wednesday, September 27th were paid a $0.10 dividend. The ex-dividend date was Tuesday, September 26th. This represents a $0.40 annualized dividend and a dividend yield of 1.00%. Korn/Ferry International’s payout ratio is presently 20.83%.
A number of equities analysts recently weighed in on the company. Zacks Investment Research raised Korn/Ferry International from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Wednesday, October 11th. BidaskClub raised Korn/Ferry International from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. SunTrust Banks, Inc. lifted their target price on Korn/Ferry International from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, September 7th. Finally, Deutsche Bank AG lifted their price target on Korn/Ferry International from $34.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, September 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $42.50.
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In other Korn/Ferry International news, CEO Gary D. Burnison sold 50,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $40.02, for a total value of $2,001,000.00. Following the completion of the sale, the chief executive officer now directly owns 198,700 shares in the company, valued at $7,951,974. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jerry Leamon sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $40.06, for a total transaction of $320,480.00. The disclosure for this sale can be found here. Insiders sold 70,000 shares of company stock worth $2,801,960 over the last three months. 1.01% of the stock is owned by insiders.
About Korn/Ferry International
Korn/Ferry International (Korn Ferry) is a people and organizational advisory company. The Company and its subsidiaries are engaged in the provision of talent management solutions, including executive search on a retained basis, recruitment for non-executive professionals, recruitment process outsourcing, and leadership and talent consulting services.
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