Allspring Global Investments Holdings LLC Sells 9,407 Shares of Korn Ferry (NYSE:KFY)

Allspring Global Investments Holdings LLC reduced its holdings in Korn Ferry (NYSE:KFY) by 0.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,325,721 shares of the business services provider’s stock after selling 9,407 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Korn Ferry were worth $88,571,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State Street Corp raised its stake in Korn Ferry by 2.0% during the 3rd quarter. State Street Corp now owns 2,069,906 shares of the business services provider’s stock worth $156,503,000 after buying an additional 40,240 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Korn Ferry during the third quarter worth about $103,546,000. Geode Capital Management LLC lifted its holdings in shares of Korn Ferry by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,217,031 shares of the business services provider’s stock valued at $91,587,000 after purchasing an additional 28,014 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Korn Ferry by 8.1% during the 4th quarter. Jennison Associates LLC now owns 1,067,813 shares of the business services provider’s stock valued at $72,024,000 after purchasing an additional 79,808 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of Korn Ferry by 7.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 949,378 shares of the business services provider’s stock valued at $71,431,000 after purchasing an additional 62,385 shares during the period. 98.82% of the stock is owned by institutional investors.

Korn Ferry Stock Down 2.7 %

Shares of Korn Ferry stock opened at $66.32 on Thursday. Korn Ferry has a 52-week low of $57.80 and a 52-week high of $80.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 2.07. The business’s 50 day simple moving average is $68.93 and its 200 day simple moving average is $71.32. The firm has a market cap of $3.42 billion, a PE ratio of 14.17 and a beta of 1.57.

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

Korn Ferry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, December 20th. Korn Ferry’s payout ratio is 31.62%.

Insider Activity at Korn Ferry

In other news, CEO Mark Arian sold 20,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 68,869 shares of the company’s stock, valued at approximately $4,975,096.56. This represents a 22.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on KFY. StockNews.com raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a research note on Tuesday, December 17th. Truist Financial boosted their price objective on shares of Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Korn Ferry currently has an average rating of “Moderate Buy” and a consensus target price of $77.00.

About Korn Ferry

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.