Michael Distefano Sells 5,000 Shares of Korn Ferry (NYSE:KFY) Stock

Korn Ferry (NYSE:KFY) insider Michael Distefano sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $72.36, for a total value of $361,800.00. Following the transaction, the insider now directly owns 50,954 shares in the company, valued at approximately $3,687,031.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Korn Ferry Stock Performance

NYSE:KFY opened at $72.47 on Thursday. The stock has a 50 day simple moving average of $70.73 and a 200 day simple moving average of $66.87. The stock has a market cap of $3.77 billion, a P/E ratio of 22.51 and a beta of 1.54. Korn Ferry has a 1-year low of $44.45 and a 1-year high of $76.63. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.23.

Korn Ferry (NYSE:KFY) last posted its earnings results on Thursday, September 5th. The business services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.06. Korn Ferry had a return on equity of 13.73% and a net margin of 6.68%. The company had revenue of $682.80 million during the quarter, compared to the consensus estimate of $663.84 million. During the same quarter last year, the firm earned $0.99 earnings per share. The company’s revenue was down 3.3% on a year-over-year basis. Research analysts anticipate that Korn Ferry will post 4.84 earnings per share for the current year.

Korn Ferry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, September 19th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.04%. Korn Ferry’s payout ratio is presently 45.96%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KFY. Norges Bank acquired a new stake in Korn Ferry during the fourth quarter worth approximately $36,347,000. Circumference Group LLC acquired a new stake in shares of Korn Ferry during the 4th quarter worth $2,131,000. Janus Henderson Group PLC increased its position in shares of Korn Ferry by 161.5% in the first quarter. Janus Henderson Group PLC now owns 67,064 shares of the business services provider’s stock worth $4,409,000 after purchasing an additional 41,416 shares during the period. UniSuper Management Pty Ltd acquired a new position in Korn Ferry in the first quarter valued at about $815,000. Finally, Diversify Advisory Services LLC acquired a new position in Korn Ferry in the second quarter valued at about $1,158,000. 98.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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