Los Angeles Capital Management & Equity Research Inc. lowered its stake in Korn/Ferry International (NYSE:KFY) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,140 shares of the company’s stock after selling 1,250 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Korn/Ferry International were worth $479,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of KFY. Norges Bank bought a new position in shares of Korn/Ferry International during the fourth quarter valued at $15,665,000. Texas Permanent School Fund raised its position in shares of Korn/Ferry International by 4.8% in the first quarter. Texas Permanent School Fund now owns 44,607 shares of the company’s stock valued at $1,262,000 after buying an additional 2,053 shares during the last quarter. Apex Capital Management raised its position in shares of Korn/Ferry International by 19.6% in the first quarter. Apex Capital Management now owns 438,343 shares of the company’s stock valued at $12,401,000 after buying an additional 71,921 shares during the last quarter. Aperio Group LLC raised its position in shares of Korn/Ferry International by 4.9% in the first quarter. Aperio Group LLC now owns 10,945 shares of the company’s stock valued at $310,000 after buying an additional 516 shares during the last quarter. Finally, Virginia Retirement System bought a new position in shares of Korn/Ferry International during the first quarter valued at $1,143,000. Institutional investors own 84.58% of the company’s stock.
Shares of Korn/Ferry International (NYSE:KFY) traded down 0.70% during mid-day trading on Friday, reaching $21.26. 662,735 shares of the company were exchanged. The firm has a market capitalization of $1.23 billion, a PE ratio of 105.25 and a beta of 1.70. Korn/Ferry International has a 12 month low of $18.57 and a 12 month high of $38.93. The company’s 50 day moving average price is $23.23 and its 200 day moving average price is $25.53.
Korn/Ferry International (NYSE:KFY) last posted its earnings results on Thursday, September 8th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $392.90 million for the quarter. Korn/Ferry International had a net margin of 0.76% and a return on equity of 11.83%. The firm’s revenue for the quarter was up 40.7% compared to the same quarter last year. During the same period last year, the firm earned $0.47 earnings per share. Equities analysts anticipate that Korn/Ferry International will post $2.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, September 26th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Thursday, September 22nd. Korn/Ferry International’s payout ratio is 190.49%.
Several research analysts have weighed in on KFY shares. Robert W. Baird lowered shares of Korn/Ferry International from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $35.00 to $27.00 in a research report on Thursday, June 16th. Zacks Investment Research lowered shares of Korn/Ferry International from a “hold” rating to a “sell” rating in a research report on Friday, June 17th. TheStreet lowered shares of Korn/Ferry International from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Piper Jaffray Cos. reiterated a “neutral” rating and issued a $25.00 price target (down from $31.00) on shares of Korn/Ferry International in a research report on Thursday, July 7th. Finally, Deutsche Bank AG initiated coverage on shares of Korn/Ferry International in a research report on Wednesday, August 17th. They issued a “hold” rating and a $27.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Korn/Ferry International currently has an average rating of “Hold” and a consensus price target of $32.20.
In other news, CEO Gary D. Burnison bought 12,000 shares of Korn/Ferry International stock in a transaction on Monday, June 27th. The stock was purchased at an average cost of $20.46 per share, with a total value of $245,520.00. Following the purchase, the chief executive officer now directly owns 186,872 shares of the company’s stock, valued at approximately $3,823,401.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen D. Kaye bought 5,000 shares of Korn/Ferry International stock in a transaction on Wednesday, June 29th. The shares were purchased at an average cost of $19.54 per share, with a total value of $97,700.00. Following the completion of the purchase, the chief executive officer now directly owns 31,110 shares in the company, valued at $607,889.40. The disclosure for this purchase can be found here. Company insiders own 1.19% of the company’s stock.
Korn/Ferry International Company Profile
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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