Point72 Asset Management L.P. Buys 2,518 Shares of Korn Ferry (NYSE:KFY)

Point72 Asset Management L.P. grew its stake in Korn Ferry (NYSE:KFY) by 25.4% in the third quarter, HoldingsChannel reports. The fund owned 12,418 shares of the business services provider’s stock after acquiring an additional 2,518 shares during the period. Point72 Asset Management L.P.’s holdings in Korn Ferry were worth $934,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in Korn Ferry by 112.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 388 shares of the business services provider’s stock worth $29,000 after purchasing an additional 205 shares during the last quarter. CWM LLC increased its stake in shares of Korn Ferry by 97.3% in the 2nd quarter. CWM LLC now owns 890 shares of the business services provider’s stock valued at $60,000 after buying an additional 439 shares during the period. Quarry LP lifted its stake in shares of Korn Ferry by 149.1% during the second quarter. Quarry LP now owns 1,380 shares of the business services provider’s stock valued at $93,000 after acquiring an additional 826 shares during the period. Innealta Capital LLC bought a new position in Korn Ferry in the second quarter valued at about $101,000. Finally, GAMMA Investing LLC boosted its holdings in Korn Ferry by 26.0% in the third quarter. GAMMA Investing LLC now owns 1,754 shares of the business services provider’s stock valued at $132,000 after acquiring an additional 362 shares during the last quarter. 98.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Michael Distefano sold 5,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $72.36, for a total transaction of $361,800.00. Following the completion of the sale, the insider now directly owns 50,954 shares of the company’s stock, valued at approximately $3,687,031.44. This represents a 8.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary D. Burnison sold 38,726 shares of Korn Ferry stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $72.18, for a total transaction of $2,795,242.68. Following the completion of the transaction, the chief executive officer now directly owns 273,118 shares in the company, valued at approximately $19,713,657.24. The trade was a 12.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,201 shares of company stock valued at $6,329,320. 1.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KFY. Truist Financial raised their target price on shares of Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, December 6th. StockNews.com cut shares of Korn Ferry from a “buy” rating to a “hold” rating in a research note on Monday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Korn Ferry currently has a consensus rating of “Moderate Buy” and an average target price of $77.00.

Korn Ferry Price Performance

Shares of KFY opened at $71.92 on Wednesday. The stock has a market cap of $3.74 billion, a P/E ratio of 15.37 and a beta of 1.56. Korn Ferry has a 1 year low of $54.48 and a 1 year high of $80.64. The stock’s 50-day moving average price is $74.09 and its two-hundred day moving average price is $70.85. The company has a current ratio of 2.07, a quick ratio of 2.15 and a debt-to-equity ratio of 0.22.

Korn Ferry (NYSE:KFY) last released its quarterly earnings data on Thursday, December 5th. The business services provider reported $1.21 earnings per share for the quarter, hitting the consensus estimate of $1.21. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The business had revenue of $682.00 million for the quarter, compared to analyst estimates of $675.35 million. During the same quarter last year, the firm earned $0.97 EPS. Korn Ferry’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, equities analysts predict that Korn Ferry will post 4.79 earnings per share for the current year.

Korn Ferry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, December 20th. Korn Ferry’s dividend payout ratio is currently 31.62%.

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.