Korn Ferry (NYSE:KFY) CEO Mark Arian Sells 20,000 Shares

Korn Ferry (NYSE:KFY) CEO Mark Arian sold 20,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $72.24, for a total transaction of $1,444,800.00. Following the transaction, the chief executive officer now owns 68,869 shares in the company, valued at approximately $4,975,096.56. This trade represents a 22.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Korn Ferry Price Performance

Shares of KFY stock opened at $66.60 on Friday. The business’s 50 day moving average price is $73.70 and its 200-day moving average price is $70.94. Korn Ferry has a fifty-two week low of $54.77 and a fifty-two week high of $80.64. The firm has a market cap of $3.44 billion, a P/E ratio of 14.23 and a beta of 1.56. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.15 and a current ratio of 2.07.

Korn Ferry (NYSE:KFY) last issued its quarterly earnings results 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 return on equity of 14.27% and a net margin of 9.03%. The company had revenue of $682.00 million for the quarter, compared to analysts’ expectations of $675.35 million. During the same period in the prior year, the firm earned $0.97 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities research analysts anticipate that Korn Ferry will post 4.75 earnings per share for the current year.

Korn Ferry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, December 20th. Korn Ferry’s payout ratio is 31.62%.

Analysts Set New Price Targets

Several brokerages have commented on KFY. Truist Financial lifted their price objective 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. StockNews.com raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Korn Ferry currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Institutional Trading of Korn Ferry

A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in Korn Ferry by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,281,186 shares of the business services provider’s stock valued at $220,296,000 after purchasing an additional 48,993 shares in the last quarter. State Street Corp lifted its stake in Korn Ferry by 2.0% in the 3rd quarter. State Street Corp now owns 2,069,906 shares of the business services provider’s stock worth $156,503,000 after purchasing an additional 40,240 shares in the last quarter. Pacer Advisors Inc. bought a new position in Korn Ferry during the third quarter valued at approximately $103,546,000. Geode Capital Management LLC increased its stake in Korn Ferry by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,217,031 shares of the business services provider’s stock worth $91,587,000 after acquiring an additional 28,014 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Korn Ferry by 13.2% in the third quarter. Jennison Associates LLC now owns 988,005 shares of the business services provider’s stock worth $74,337,000 after purchasing an additional 115,523 shares during the last quarter. Hedge funds and other institutional investors own 98.82% of the company’s stock.

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.