Jennison Associates LLC bought a new position in shares of Korn Ferry (NYSE:KFY) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 18,487 shares of the business services provider’s stock, valued at approximately $1,338,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC raised its stake in Korn Ferry by 90.9% in the second quarter. O Shaughnessy Asset Management LLC now owns 527 shares of the business services provider’s stock valued at $38,000 after buying an additional 251 shares during the period. Federated Hermes Inc. bought a new stake in Korn Ferry in the second quarter valued at approximately $74,000. Heritage Wealth Management LLC grew its position in shares of Korn Ferry by 59.5% in the second quarter. Heritage Wealth Management LLC now owns 1,525 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 569 shares during the last quarter. Intersect Capital LLC acquired a new position in shares of Korn Ferry in the third quarter valued at approximately $148,000. Finally, Liberty Wealth Management LLC grew its position in shares of Korn Ferry by 7,165.4% in the second quarter. Liberty Wealth Management LLC now owns 13,223 shares of the business services provider’s stock valued at $182,000 after purchasing an additional 13,041 shares during the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.
Several research firms have recently commented on KFY. Robert W. Baird upped their target price on Korn Ferry from $98.00 to $106.00 and gave the company an “outperform” rating in a research report on Thursday, December 9th. Zacks Investment Research raised Korn Ferry from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Friday, November 19th.
Korn Ferry (NYSE:KFY) last released its earnings results on Wednesday, December 8th. The business services provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.16. Korn Ferry had a return on equity of 19.88% and a net margin of 11.83%. The firm had revenue of $639.40 million during the quarter, compared to analysts’ expectations of $604.67 million. During the same period in the prior year, the company earned $0.54 earnings per share. The company’s quarterly revenue was up 46.9% on a year-over-year basis. As a group, sell-side analysts expect that Korn Ferry will post 5.78 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 14th. Stockholders of record on Tuesday, December 21st were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Monday, December 20th. Korn Ferry’s payout ratio is 9.80%.
In other news, CEO Gary D. Burnison sold 9,779 shares of the stock in a transaction on Wednesday, January 5th. The stock was sold at an average price of $77.72, for a total value of $760,023.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.
Korn Ferry Company Profile
Korn Ferry operates as a global organizational consulting firm, which engages in synchronizing its clients strategy, operations and talent to drive superior business performance. It operates through the following segments: Consulting, Digital, Executive Search North America, Executive Search EMEA, Executive Search Asia Pacific, Executive Search Latin America, and RPO & Professional Search.
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