Jennison Associates LLC Boosts Stake in Korn Ferry (NYSE:KFY)

Jennison Associates LLC grew its position in Korn Ferry (NYSE:KFY) by 8.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,067,813 shares of the business services provider’s stock after acquiring an additional 79,808 shares during the quarter. Jennison Associates LLC’s holdings in Korn Ferry were worth $72,024,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KFY. JPMorgan Chase & Co. boosted its stake in Korn Ferry by 193.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider’s stock worth $32,050,000 after purchasing an additional 281,024 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Korn Ferry by 7.0% in the third quarter. Thrivent Financial for Lutherans now owns 949,378 shares of the business services provider’s stock valued at $71,431,000 after buying an additional 62,385 shares during the last quarter. Vestcor Inc boosted its stake in shares of 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 during the period. Seizert Capital Partners LLC grew its holdings in shares of 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 during the last quarter. Finally, Pacer Advisors Inc. acquired a new position in Korn Ferry in the 3rd quarter valued at about $103,546,000. 98.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KFY has been the subject of a number of recent research reports. StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a research report on Tuesday, December 17th. Truist Financial increased their price target on 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 given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $77.00.

Insider Buying and Selling

In other news, CEO Mark Arian sold 20,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $72.24, for a total value of $1,444,800.00. Following the completion of the transaction, the chief executive officer now owns 68,869 shares in the company, valued at $4,975,096.56. This trade represents a 22.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is owned by insiders.

Korn Ferry Price Performance

Shares of NYSE:KFY opened at $70.20 on Tuesday. Korn Ferry has a 52 week low of $57.80 and a 52 week high of $80.64. The company has a 50-day moving average price of $70.39 and a 200 day moving average price of $71.47. The company has a market cap of $3.62 billion, a P/E ratio of 15.00 and a beta of 1.57. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.22.

Korn Ferry (NYSE:KFY) last posted its quarterly earnings results on Thursday, December 5th. The business services provider reported $1.21 EPS for the quarter, meeting the consensus estimate of $1.21. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The business had revenue of $682.00 million during the quarter, compared to analysts’ expectations of $675.35 million. During the same period last year, the firm earned $0.97 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. Research analysts predict that Korn Ferry will post 4.75 earnings per share for the current year.

Korn Ferry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Friday, December 20th. Korn Ferry’s dividend payout ratio (DPR) is 31.62%.

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.