MML Investors Services LLC Buys Shares of 2,772 Korn Ferry (NYSE:KFY)

MML Investors Services LLC purchased a new stake in Korn Ferry (NYSE:KFY) in the third quarter, Holdings Channel reports. The institutional investor purchased 2,772 shares of the business services provider’s stock, valued at approximately $209,000.

Several other hedge funds also recently modified their holdings of the company. Castleark Management LLC grew its holdings in Korn Ferry by 10.2% during the 3rd quarter. Castleark Management LLC now owns 58,890 shares of the business services provider’s stock worth $4,431,000 after acquiring an additional 5,430 shares during the last quarter. State Street Corp raised its stake in shares of Korn Ferry by 2.0% during the third quarter. State Street Corp now owns 2,069,906 shares of the business services provider’s stock valued at $156,503,000 after acquiring an additional 40,240 shares during the last quarter. Petrus Trust Company LTA lifted its holdings in shares of Korn Ferry by 134.7% during the third quarter. Petrus Trust Company LTA now owns 17,850 shares of the business services provider’s stock worth $1,343,000 after purchasing an additional 10,245 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Korn Ferry by 25.4% in the third quarter. Point72 Asset Management L.P. now owns 12,418 shares of the business services provider’s stock worth $934,000 after purchasing an additional 2,518 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in Korn Ferry by 17.3% in the third quarter. HighTower Advisors LLC now owns 5,430 shares of the business services provider’s stock valued at $407,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 98.82% of the company’s stock.

Korn Ferry Price Performance

Shares of NYSE KFY opened at $68.26 on Friday. The company has a current ratio of 2.07, a quick ratio of 2.15 and a debt-to-equity ratio of 0.22. Korn Ferry has a 1-year low of $54.77 and a 1-year high of $80.64. The firm’s 50-day moving average price is $73.20 and its 200-day moving average price is $71.04. The firm has a market capitalization of $3.52 billion, a P/E ratio of 14.59 and a beta of 1.56.

Korn Ferry (NYSE:KFY) last issued its quarterly earnings data on Thursday, December 5th. The business services provider reported $1.21 EPS 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 firm had revenue of $682.00 million during the quarter, compared to the consensus estimate of $675.35 million. During the same period in the prior year, the business posted $0.97 earnings per share. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities research analysts anticipate that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Friday, December 20th. Korn Ferry’s dividend payout ratio is 31.62%.

Wall Street Analyst Weigh In

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

Insider Activity at Korn Ferry

In other Korn Ferry news, CEO Gary D. Burnison sold 38,726 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $72.18, for a total value of $2,795,242.68. Following the completion of the transaction, the chief executive officer now owns 273,118 shares of the company’s stock, valued at $19,713,657.24. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Debra J. Perry sold 5,280 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $73.30, for a total value of $387,024.00. Following the transaction, the director now owns 46,180 shares in the company, valued at $3,384,994. This trade represents a 10.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,280 shares of company stock worth $5,832,156. Insiders own 1.40% 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.