Insider Selling: Korn/Ferry International (KFY) CFO Sells 12,000 Shares of Stock
Korn/Ferry International (NYSE:KFY) CFO Robert P. Rozek sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $40.04, for a total transaction of $480,480.00. Following the sale, the chief financial officer now owns 93,522 shares in the company, valued at approximately $3,744,620.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Korn/Ferry International (NYSE:KFY) traded down 1.14% during mid-day trading on Tuesday, hitting $39.99. The company had a trading volume of 438,212 shares. Korn/Ferry International has a 12 month low of $19.94 and a 12 month high of $40.64. The company has a 50-day moving average price of $35.40 and a 200 day moving average price of $33.42. The firm has a market capitalization of $2.26 billion, a P/E ratio of 20.90 and a beta of 1.40.
Korn/Ferry International (NYSE:KFY) last posted its earnings results on Wednesday, September 6th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. Korn/Ferry International had a net margin of 6.69% and a return on equity of 12.03%. The business had revenue of $401.25 million for the quarter, compared to analyst estimates of $392.91 million. During the same period in the prior year, the company posted $0.52 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities analysts forecast that Korn/Ferry International will post $2.45 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Wednesday, September 27th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, September 26th. This represents a $0.40 annualized dividend and a dividend yield of 1.00%. Korn/Ferry International’s dividend payout ratio is presently 20.83%.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its position in Korn/Ferry International by 1.7% during the second quarter. Bank of Montreal Can now owns 3,166 shares of the business services provider’s stock worth $110,000 after purchasing an additional 52 shares in the last quarter. Riverhead Capital Management LLC grew its holdings in Korn/Ferry International by 80.5% in the second quarter. Riverhead Capital Management LLC now owns 3,430 shares of the business services provider’s stock valued at $118,000 after purchasing an additional 1,530 shares during the period. SG Americas Securities LLC grew its holdings in Korn/Ferry International by 26.7% in the second quarter. SG Americas Securities LLC now owns 4,161 shares of the business services provider’s stock valued at $144,000 after purchasing an additional 878 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in Korn/Ferry International in the first quarter valued at approximately $156,000. Finally, Hanseatic Management Services Inc. grew its holdings in Korn/Ferry International by 1.1% in the second quarter. Hanseatic Management Services Inc. now owns 7,129 shares of the business services provider’s stock valued at $246,000 after purchasing an additional 81 shares during the period. 88.89% of the stock is owned by institutional investors.
A number of research firms have weighed in on KFY. SunTrust Banks, Inc. upped their price target on shares of Korn/Ferry International from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, September 7th. Deutsche Bank AG increased their price objective on shares of Korn/Ferry International from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, September 7th. BidaskClub downgraded shares of Korn/Ferry International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 13th. Zacks Investment Research downgraded shares of Korn/Ferry International from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Finally, Sidoti began coverage on shares of Korn/Ferry International in a research note on Monday, June 12th. They set a “buy” rating and a $43.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $39.25.
About Korn/Ferry International
Korn/Ferry International (Korn Ferry) is a people and organizational advisory company. The Company and its subsidiaries are engaged in the provision of talent management solutions, including executive search on a retained basis, recruitment for non-executive professionals, recruitment process outsourcing, and leadership and talent consulting services.
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