Litman Gregory Wealth Management LLC Makes New $504,000 Investment in Korn Ferry (NYSE:KFY)

Litman Gregory Wealth Management LLC acquired a new stake in Korn Ferry (NYSE:KFY) during the 4th quarter, Holdings Channel reports. The firm acquired 7,473 shares of the business services provider’s stock, valued at approximately $504,000.

A number of other hedge funds have also recently made changes to their positions in KFY. JPMorgan Chase & Co. raised its stake in Korn Ferry by 193.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider’s stock valued at $32,050,000 after purchasing an additional 281,024 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Korn Ferry by 7.0% during the third quarter. Thrivent Financial for Lutherans now owns 949,378 shares of the business services provider’s stock valued at $71,431,000 after buying an additional 62,385 shares during the last quarter. Vestcor Inc lifted its holdings in shares of Korn Ferry by 323.7% in the third quarter. Vestcor Inc now owns 18,487 shares of the business services provider’s stock worth $1,391,000 after buying an additional 14,124 shares in the last quarter. Seizert Capital Partners LLC boosted its position in shares of Korn Ferry by 21.9% during the third quarter. Seizert Capital Partners LLC now owns 72,496 shares of the business services provider’s stock worth $5,455,000 after acquiring an additional 13,017 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of Korn Ferry during the third quarter worth $103,546,000. Institutional investors own 98.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KFY. Truist Financial boosted their price target on shares of Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a research report 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.00.

Insider Buying and Selling

In related news, CEO Mark Arian sold 20,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $72.24, for a total value of $1,444,800.00. Following the sale, the chief executive officer now directly owns 68,869 shares of the company’s stock, valued at $4,975,096.56. This represents a 22.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Korn Ferry Price Performance

Korn Ferry stock opened at $70.79 on Friday. Korn Ferry has a 52-week low of $57.80 and a 52-week high of $80.64. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 15.13 and a beta of 1.57. The firm’s fifty day moving average is $70.57 and its 200 day moving average is $71.47. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.22.

Korn Ferry (NYSE:KFY) last announced its quarterly earnings results on Thursday, December 5th. The business services provider reported $1.21 EPS for the quarter, meeting analysts’ consensus estimates of $1.21. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The firm had revenue of $682.00 million during the quarter, compared to the consensus estimate of $675.35 million. During the same quarter last year, the firm earned $0.97 EPS. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. Sell-side analysts forecast that Korn Ferry will post 4.75 EPS for the current fiscal year.

Korn Ferry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, December 20th. This represents a $1.48 annualized dividend and a yield of 2.09%. Korn Ferry’s payout ratio is presently 31.62%.

Korn Ferry 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.