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

Cypress Capital LLC reduced its holdings in Korn Ferry (NYSE:KFY) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. boosted 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 acquiring an additional 281,024 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in 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 worth $71,431,000 after buying an additional 62,385 shares in the last quarter. Vestcor Inc boosted its holdings in Korn Ferry by 323.7% during 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 holdings in 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 buying an additional 13,017 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in Korn Ferry during the third quarter worth $103,546,000. 98.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KFY has been the topic of a number of recent analyst reports. Truist Financial increased 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. StockNews.com raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Korn Ferry Stock Performance

NYSE:KFY opened at $64.33 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 2.07. The company has a fifty day moving average of $68.21 and a two-hundred day moving average of $71.08. The stock has a market capitalization of $3.32 billion, a PE ratio of 13.74 and a beta of 1.57. Korn Ferry has a fifty-two week low of $58.67 and a fifty-two 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 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.21. The company had revenue of $682.00 million during the quarter, compared to analysts’ expectations of $675.35 million. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 earnings per share. As a group, research analysts forecast 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 was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Friday, December 20th. Korn Ferry’s dividend payout ratio is presently 31.62%.

Insiders Place Their Bets

In other 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 completion of the sale, the chief executive officer now directly owns 68,869 shares in the company, valued at $4,975,096.56. This represents 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 at this link. 1.40% of the stock is currently owned by company insiders.

About Korn Ferry

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.