Insider Selling: Korn Ferry (NYSE:KFY) CEO Sells $1,205,089.70 in Stock

Korn Ferry (NYSE:KFY) CEO Gary D. Burnison sold 16,274 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $74.05, for a total value of $1,205,089.70. Following the transaction, the chief executive officer now directly owns 356,844 shares of the company’s stock, valued at $26,424,298.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Korn Ferry Stock Performance

Shares of Korn Ferry stock opened at $72.90 on Friday. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 22.64 and a beta of 1.54. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.15 and a quick ratio of 2.15. Korn Ferry has a 1 year low of $44.45 and a 1 year high of $76.63. The firm’s 50-day moving average is $71.09 and its 200 day moving average is $67.30.

Korn Ferry (NYSE:KFY) last posted its quarterly earnings results on Thursday, September 5th. The business services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.06. Korn Ferry had a net margin of 6.68% and a return on equity of 13.73%. The firm had revenue of $682.80 million for the quarter, compared to analysts’ expectations of $663.84 million. During the same quarter in the prior year, the company posted $0.99 earnings per share. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. Sell-side analysts anticipate that Korn Ferry will post 4.84 EPS for the current fiscal year.

Korn Ferry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Thursday, September 19th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, September 19th. Korn Ferry’s dividend payout ratio is currently 45.96%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of KFY. Thrivent Financial for Lutherans increased its holdings in Korn Ferry by 1,846.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 886,993 shares of the business services provider’s stock worth $59,553,000 after buying an additional 841,413 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Korn Ferry in the first quarter worth approximately $52,948,000. Artemis Investment Management LLP purchased a new position in shares of Korn Ferry during the second quarter valued at approximately $28,590,000. Pzena Investment Management LLC lifted its position in Korn Ferry by 24.6% during the first quarter. Pzena Investment Management LLC now owns 1,118,694 shares of the business services provider’s stock valued at $73,565,000 after purchasing an additional 220,564 shares during the period. Finally, Blair William & Co. IL boosted its holdings in Korn Ferry by 377.6% in the second quarter. Blair William & Co. IL now owns 239,823 shares of the business services provider’s stock worth $16,102,000 after purchasing an additional 189,607 shares during the last quarter. 98.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Truist Financial reiterated a “buy” rating and issued a $78.00 price target (up from $74.00) on shares of Korn Ferry in a research note on Friday, June 14th. Robert W. Baird raised their target price on shares of Korn Ferry from $72.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Finally, StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. One equities 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.00.

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.