Korn Ferry (NYSE:KFY) CEO Purchases $22,840.00 in Stock

Korn Ferry (NYSE:KFY) CEO Gary D. Burnison bought 1,000 shares of the company’s stock in a transaction dated Monday, March 23rd. The stock was purchased at an average price of $22.84 per share, for a total transaction of $22,840.00. Following the purchase, the chief executive officer now owns 310,971 shares of the company’s stock, valued at approximately $7,102,577.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Shares of KFY traded up $2.06 during mid-day trading on Tuesday, hitting $24.12. 556,951 shares of the company traded hands, compared to its average volume of 464,038. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.14 and a current ratio of 2.14. The stock has a 50-day moving average price of $35.49 and a two-hundred day moving average price of $38.46. Korn Ferry has a 1 year low of $21.45 and a 1 year high of $48.81. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 8.68 and a beta of 1.20.

Korn Ferry (NYSE:KFY) last released its quarterly earnings data on Tuesday, March 10th. The business services provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.02. Korn Ferry had a net margin of 7.68% and a return on equity of 14.14%. The firm had revenue of $515.30 million during the quarter, compared to analysts’ expectations of $500.22 million. During the same period in the previous year, the company earned $0.81 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that Korn Ferry will post 2.8 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Thursday, March 26th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, March 25th. This represents a $0.40 annualized dividend and a dividend yield of 1.66%. Korn Ferry’s payout ratio is 12.08%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in KFY. Victory Capital Management Inc. raised its holdings in shares of Korn Ferry by 12,194.2% during the fourth quarter. Victory Capital Management Inc. now owns 1,074,266 shares of the business services provider’s stock valued at $44,023,000 after purchasing an additional 1,065,528 shares during the last quarter. Norges Bank purchased a new position in shares of Korn Ferry during the fourth quarter valued at approximately $33,301,000. Jennison Associates LLC raised its holdings in shares of Korn Ferry by 56.4% during the fourth quarter. Jennison Associates LLC now owns 1,284,648 shares of the business services provider’s stock valued at $54,469,000 after purchasing an additional 463,177 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of Korn Ferry by 647.5% during the third quarter. Voya Investment Management LLC now owns 425,610 shares of the business services provider’s stock valued at $16,445,000 after purchasing an additional 368,673 shares during the last quarter. Finally, Boston Trust Walden Corp purchased a new position in shares of Korn Ferry during the fourth quarter valued at approximately $12,819,000. 94.14% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on KFY. Zacks Investment Research downgraded shares of Korn Ferry from a “hold” rating to a “sell” rating in a research note on Wednesday, March 4th. Credit Suisse Group dropped their target price on shares of Korn Ferry from $37.00 to $29.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 11th. Sidoti dropped their target price on shares of Korn Ferry from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. SunTrust Banks dropped their target price on shares of Korn Ferry from $58.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Finally, ValuEngine upgraded shares of Korn Ferry from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $42.80.

About Korn Ferry

Korn Ferry, together with its subsidiaries, provides talent management solutions worldwide. It operates through three segments: Executive Search, Hay Group, and Futurestep. The company provides executive search services to fill executive-level positions, such as board directors, chief executive officers, chief financial officers, chief operating officers, chief information officers, chief human resource officers, and other senior executive officers for clients in the consumer, financial services, industrial, life sciences/healthcare provider, technology, and educational/not-for-profit market sectors.

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