Cypress Capital LLC Reduces Position in Korn Ferry (NYSE:KFY)

Cypress Capital LLC trimmed its stake in Korn Ferry (NYSE:KFY) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,672 shares of the business services provider’s stock after selling 892 shares during the period. Cypress Capital LLC’s holdings in Korn Ferry were worth $922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in KFY. Pacer Advisors Inc. purchased a new stake in Korn Ferry in the 3rd quarter valued at about $103,546,000. JPMorgan Chase & Co. raised its holdings in shares of Korn Ferry by 193.9% in 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 in the last quarter. Barclays PLC raised its holdings in shares of Korn Ferry by 129.0% in the 3rd quarter. Barclays PLC now owns 239,937 shares of the business services provider’s stock valued at $18,053,000 after purchasing an additional 135,148 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Korn Ferry by 13.2% in the 3rd quarter. Jennison Associates LLC now owns 988,005 shares of the business services provider’s stock valued at $74,337,000 after purchasing an additional 115,523 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Korn Ferry by 14.2% in the 4th quarter. Allianz Asset Management GmbH now owns 753,414 shares of the business services provider’s stock valued at $50,818,000 after purchasing an additional 93,591 shares in the last quarter. 98.82% of the stock is owned by hedge funds and other institutional investors.

Korn Ferry Trading Down 2.3 %

NYSE KFY opened at $64.33 on Friday. 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 firm has a market cap of $3.32 billion, a PE ratio of 13.74 and a beta of 1.57. The company has a 50 day moving average price of $68.21 and a 200 day moving average price of $71.08. Korn Ferry has a 52 week low of $58.67 and a 52 week high of $80.64.

Korn Ferry (NYSE:KFY) last posted 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. The firm had revenue of $682.00 million during the quarter, compared to analyst estimates of $675.35 million. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. Korn Ferry’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.97 EPS. As a group, 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. Shareholders of record on Friday, December 20th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, December 20th. This represents a $1.48 dividend on an annualized basis and a yield of 2.30%. Korn Ferry’s payout ratio is 31.62%.

Insider Buying and Selling at Korn Ferry

In other Korn Ferry news, CEO Mark Arian sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were 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 represents a 22.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.