Korn Ferry (NYSE:KFY) Stake Boosted by Meritage Portfolio Management

Meritage Portfolio Management increased its position in shares of Korn Ferry (NYSE:KFY) by 12.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,641 shares of the business services provider’s stock after buying an additional 622 shares during the quarter. Meritage Portfolio Management’s holdings in Korn Ferry were worth $380,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Heritage Family Offices LLP increased its stake in shares of Korn Ferry by 7.2% during the 4th quarter. Heritage Family Offices LLP now owns 3,860 shares of the business services provider’s stock worth $260,000 after purchasing an additional 259 shares during the last quarter. Simplicity Wealth LLC grew its stake in Korn Ferry by 4.8% in the 3rd quarter. Simplicity Wealth LLC now owns 6,146 shares of the business services provider’s stock valued at $462,000 after buying an additional 283 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in Korn Ferry by 6.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 4,923 shares of the business services provider’s stock valued at $370,000 after buying an additional 294 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Korn Ferry by 5.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,343 shares of the business services provider’s stock valued at $402,000 after buying an additional 299 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Korn Ferry by 26.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,754 shares of the business services provider’s stock valued at $132,000 after buying an additional 362 shares during the last quarter. Institutional investors and hedge funds own 98.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. 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 upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.00.

Insider Transactions at Korn Ferry

In other 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 completion of the transaction, the chief executive officer now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by insiders.

Korn Ferry Stock Performance

NYSE KFY opened at $68.17 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 14.57 and a beta of 1.57. The company’s fifty day moving average is $69.82 and its two-hundred day moving average is $71.43. Korn Ferry has a 52-week low of $57.80 and a 52-week high of $80.64.

Korn Ferry (NYSE:KFY) last posted its quarterly earnings results on Thursday, December 5th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.21. The company had revenue of $682.00 million for the quarter, compared to analyst estimates of $675.35 million. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the business posted $0.97 EPS. Equities research analysts forecast that Korn Ferry will post 4.75 EPS for the current year.

Korn Ferry Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, December 20th. Korn Ferry’s payout ratio is 31.62%.

Korn Ferry Company Profile

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.