Principal Financial Group Inc. lifted its position in shares of Korn Ferry (NYSE:KFY) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 457,399 shares of the business services provider’s stock after acquiring an additional 14,643 shares during the quarter. Principal Financial Group Inc. owned approximately 0.84% of Korn Ferry worth $33,097,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in KFY. Price T Rowe Associates Inc. MD grew its stake in shares of Korn Ferry by 11.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,264,921 shares of the business services provider’s stock worth $164,320,000 after purchasing an additional 238,650 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Korn Ferry during the second quarter worth $10,135,000. Putnam Investments LLC acquired a new stake in shares of Korn Ferry during the second quarter worth $8,734,000. Morgan Stanley grew its stake in Korn Ferry by 68.3% in the second quarter. Morgan Stanley now owns 262,128 shares of the business services provider’s stock valued at $19,018,000 after acquiring an additional 106,380 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Korn Ferry by 92.3% in the second quarter. Goldman Sachs Group Inc. now owns 207,137 shares of the business services provider’s stock valued at $15,028,000 after acquiring an additional 99,413 shares during the period. Institutional investors own 92.97% of the company’s stock.
In other Korn Ferry news, CEO Gary D. Burnison sold 9,779 shares of Korn Ferry stock in a transaction that occurred on Wednesday, January 5th. The shares were sold at an average price of $77.72, for a total transaction of $760,023.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.50% of the stock is owned by company insiders.
Korn Ferry (NYSE:KFY) last issued its earnings results on Wednesday, December 8th. The business services provider reported $1.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.16. Korn Ferry had a return on equity of 19.88% and a net margin of 11.83%. The company had revenue of $639.40 million during the quarter, compared to the consensus estimate of $604.67 million. During the same period last year, the business posted $0.54 EPS. The firm’s revenue for the quarter was up 46.9% compared to the same quarter last year. Equities research analysts forecast that Korn Ferry will post 5.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, January 14th. Shareholders of record on Tuesday, December 21st were given a dividend of $0.12 per share. The ex-dividend date was Monday, December 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.65%. Korn Ferry’s dividend payout ratio is currently 9.80%.
A number of brokerages have recently commented on KFY. Robert W. Baird boosted their price target on Korn Ferry from $98.00 to $106.00 and gave the company an “outperform” rating in a report on Thursday, December 9th. Zacks Investment Research raised Korn Ferry from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research report on Friday, November 19th.
Korn Ferry Company Profile
Korn Ferry operates as a global organizational consulting firm, which engages in synchronizing its clients strategy, operations and talent to drive superior business performance. It operates through the following segments: Consulting, Digital, Executive Search North America, Executive Search EMEA, Executive Search Asia Pacific, Executive Search Latin America, and RPO & Professional Search.
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