Pacer Advisors Inc. Reduces Position in Korn Ferry (NYSE:KFY)

Pacer Advisors Inc. lessened its holdings in shares of Korn Ferry (NYSE:KFY) by 5.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,299,146 shares of the business services provider’s stock after selling 77,063 shares during the quarter. Pacer Advisors Inc. owned about 2.52% of Korn Ferry worth $87,627,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Korn Ferry by 193.9% during the third quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider’s stock valued at $32,050,000 after buying an additional 281,024 shares during the period. Barclays PLC increased its holdings in Korn Ferry by 129.0% during the 3rd quarter. Barclays PLC now owns 239,937 shares of the business services provider’s stock worth $18,053,000 after acquiring an additional 135,148 shares during the period. Jennison Associates LLC lifted its stake in Korn Ferry by 13.2% in the 3rd 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 in the last quarter. Algert Global LLC boosted its holdings in Korn Ferry by 418.6% in the 2nd quarter. Algert Global LLC now owns 134,781 shares of the business services provider’s stock valued at $9,049,000 after purchasing an additional 108,791 shares during the period. Finally, Millennium Management LLC grew its position in shares of Korn Ferry by 50.7% during the 2nd quarter. Millennium Management LLC now owns 310,538 shares of the business services provider’s stock valued at $20,850,000 after purchasing an additional 104,447 shares in the last quarter. Institutional investors own 98.82% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Mark Arian sold 20,000 shares of Korn Ferry stock in a transaction on 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 transaction, the chief executive officer now directly owns 68,869 shares of the company’s stock, valued at $4,975,096.56. The trade was a 22.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

KFY has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on 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 upgraded Korn Ferry from a “hold” rating to a “buy” rating in a research report on Tuesday, December 17th. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Korn Ferry Trading Up 0.8 %

NYSE KFY opened at $70.72 on Monday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.22. The stock’s 50-day simple moving average is $71.08 and its two-hundred day simple moving average is $71.39. Korn Ferry has a twelve month low of $57.73 and a twelve month high of $80.64. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 15.11 and a beta of 1.57.

Korn Ferry (NYSE:KFY) last released its earnings results on Thursday, December 5th. The business services provider reported $1.21 earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $675.35 million. During the same quarter in the previous year, the company posted $0.97 EPS. Korn Ferry’s quarterly revenue was down 4.3% compared to the same quarter last year. Research analysts forecast that Korn Ferry will post 4.75 EPS for the current fiscal year.

Korn Ferry Announces Dividend

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