Wedge Capital Management L L P NC Acquires 4,388 Shares of Korn Ferry (NYSE:KFY)

Wedge Capital Management L L P NC lifted its holdings in shares of Korn Ferry (NYSE:KFY) by 6.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 77,613 shares of the business services provider’s stock after purchasing an additional 4,388 shares during the period. Wedge Capital Management L L P NC owned 0.15% of Korn Ferry worth $5,235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KFY. State Street Corp grew its holdings in Korn Ferry by 2.0% during the 3rd quarter. State Street Corp now owns 2,069,906 shares of the business services provider’s stock worth $156,503,000 after acquiring an additional 40,240 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of Korn Ferry during the third quarter worth approximately $103,546,000. Geode Capital Management LLC grew its stake in shares of Korn Ferry by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,217,031 shares of the business services provider’s stock valued at $91,587,000 after purchasing an additional 28,014 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Korn Ferry by 13.2% in the third quarter. Jennison Associates LLC now owns 988,005 shares of the business services provider’s stock valued at $74,337,000 after purchasing an additional 115,523 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Korn Ferry by 7.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 949,378 shares of the business services provider’s stock worth $71,431,000 after purchasing an additional 62,385 shares during the last quarter. 98.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a report on Tuesday, December 17th. Truist Financial lifted their price target on shares of Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Insider Activity at Korn Ferry

In related news, CEO Mark Arian sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $72.24, for a total value of $1,444,800.00. Following the completion of the transaction, the chief executive officer now directly owns 68,869 shares in the company, valued at approximately $4,975,096.56. The trade was a 22.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Korn Ferry Trading Up 1.3 %

NYSE:KFY opened at $70.69 on Friday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22. Korn Ferry has a 1-year low of $55.26 and a 1-year high of $80.64. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 15.11 and a beta of 1.57. The business’s 50-day moving average price is $71.77 and its two-hundred day moving average price is $71.19.

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

Korn Ferry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Friday, December 20th. Korn Ferry’s dividend payout ratio (DPR) 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.