Evergreen Capital Management LLC Makes New $218,000 Investment in Korn Ferry (NYSE:KFY)

Evergreen Capital Management LLC acquired a new stake in Korn Ferry (NYSE:KFY) during the second quarter, according to its most recent filing with the SEC. The firm acquired 3,251 shares of the business services provider’s stock, valued at approximately $218,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its position in Korn Ferry by 1,846.0% in the second quarter. Thrivent Financial for Lutherans now owns 886,993 shares of the business services provider’s stock worth $59,553,000 after purchasing an additional 841,413 shares during the period. Jennison Associates LLC acquired a new stake in shares of Korn Ferry during the 1st quarter worth approximately $52,948,000. Artemis Investment Management LLP bought a new stake in shares of Korn Ferry during the second quarter worth approximately $28,590,000. Pzena Investment Management LLC lifted its holdings in Korn Ferry by 24.6% in the first quarter. Pzena Investment Management LLC now owns 1,118,694 shares of the business services provider’s stock valued at $73,565,000 after buying an additional 220,564 shares during the period. Finally, Blair William & Co. IL boosted its stake in Korn Ferry by 377.6% in the second quarter. Blair William & Co. IL now owns 239,823 shares of the business services provider’s stock valued at $16,102,000 after acquiring an additional 189,607 shares during the last quarter. Institutional investors own 98.82% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Robert P. Rozek sold 20,921 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $75.53, for a total value of $1,580,163.13. Following the sale, the chief financial officer now directly owns 154,535 shares in the company, valued at $11,672,028.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Robert P. Rozek sold 20,921 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $75.53, for a total value of $1,580,163.13. Following the sale, the chief financial officer now owns 154,535 shares of the company’s stock, valued at $11,672,028.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael Distefano sold 5,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $72.36, for a total transaction of $361,800.00. Following the transaction, the insider now owns 50,954 shares of the company’s stock, valued at approximately $3,687,031.44. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on KFY. UBS Group upped their target price on shares of Korn Ferry from $66.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. Robert W. Baird increased their target price on Korn Ferry from $72.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. Finally, Truist Financial reiterated a “buy” rating and issued a $78.00 price target (up from $74.00) on shares of Korn Ferry in a research report on Friday, June 14th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Korn Ferry has a consensus rating of “Moderate Buy” and an average price target of $75.00.

Korn Ferry Stock Performance

KFY stock opened at $73.40 on Friday. Korn Ferry has a 1-year low of $44.45 and a 1-year high of $76.63. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.23. The firm has a market cap of $3.80 billion, a PE ratio of 22.80 and a beta of 1.54. The business’s 50-day moving average price is $70.85 and its two-hundred day moving average price is $66.99.

Korn Ferry (NYSE:KFY) last issued its quarterly earnings data on Thursday, September 5th. The business services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.06. The business had revenue of $682.80 million during the quarter, compared to analyst estimates of $663.84 million. Korn Ferry had a return on equity of 13.73% and a net margin of 6.68%. Korn Ferry’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.99 EPS. As a group, research analysts forecast that Korn Ferry will post 4.84 earnings per share for the current year.

Korn Ferry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, September 19th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, September 19th. Korn Ferry’s payout ratio is presently 45.96%.

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.