SG Capital Management LLC Invests $6.78 Million in Korn Ferry (NYSE:KFY)

SG Capital Management LLC purchased a new position in Korn Ferry (NYSE:KFY) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 103,057 shares of the business services provider’s stock, valued at approximately $6,777,000. Korn Ferry comprises about 2.2% of SG Capital Management LLC’s investment portfolio, making the stock its 20th biggest holding. SG Capital Management LLC owned 0.20% of Korn Ferry as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. SummerHaven Investment Management LLC raised its position in Korn Ferry by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 13,925 shares of the business services provider’s stock worth $826,000 after buying an additional 188 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Korn Ferry by 13.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,540 shares of the business services provider’s stock valued at $151,000 after acquiring an additional 301 shares during the period. GAMMA Investing LLC boosted its stake in Korn Ferry by 40.1% in the 1st quarter. GAMMA Investing LLC now owns 1,086 shares of the business services provider’s stock worth $71,000 after purchasing an additional 311 shares during the period. Azzad Asset Management Inc. ADV boosted its stake in Korn Ferry by 2.5% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 14,548 shares of the business services provider’s stock worth $957,000 after purchasing an additional 360 shares during the period. Finally, QRG Capital Management Inc. boosted its stake in Korn Ferry by 3.1% in the 1st quarter. QRG Capital Management Inc. now owns 13,183 shares of the business services provider’s stock worth $867,000 after purchasing an additional 391 shares during the period. Hedge funds and other institutional investors own 98.82% of the company’s stock.

Insider Activity

In related news, CEO Mark Arian sold 5,000 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $66.01, for a total value of $330,050.00. Following the completion of the transaction, the chief executive officer now directly owns 91,484 shares of the company’s stock, valued at approximately $6,038,858.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KFY. Truist Financial reaffirmed a “buy” rating and set a $78.00 price objective (up from $74.00) on shares of Korn Ferry in a report on Friday, June 14th. UBS Group boosted their target price on shares of Korn Ferry from $66.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. Robert W. Baird lifted their price objective on Korn Ferry from $72.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Finally, StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a report on Thursday, June 20th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.00.

Korn Ferry Stock Down 2.4 %

Shares of KFY traded down $1.74 during mid-day trading on Friday, hitting $70.08. 251,246 shares of the company traded hands, compared to its average volume of 327,106. Korn Ferry has a 1-year low of $44.45 and a 1-year high of $75.30. The company has a quick ratio of 1.83, a current ratio of 1.79 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $3.63 billion, a PE ratio of 21.76 and a beta of 1.54. The business has a 50 day moving average of $67.60 and a 200 day moving average of $63.97.

Korn Ferry (NYSE:KFY) last released its quarterly earnings data on Thursday, June 13th. The business services provider reported $1.26 EPS for the quarter, topping the consensus estimate of $1.13 by $0.13. Korn Ferry had a return on equity of 13.18% and a net margin of 6.05%. The business had revenue of $690.80 million for the quarter, compared to analyst estimates of $687.36 million. During the same quarter in the prior year, the firm posted $1.01 EPS. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. Equities research analysts anticipate that Korn Ferry will post 4.81 EPS for the current year.

Korn Ferry Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 3rd were given a dividend of $0.37 per share. This is a positive change from Korn Ferry’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.11%. Korn Ferry’s dividend payout ratio (DPR) is 45.96%.

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.