Jennison Associates LLC Takes Position in Korn Ferry (NYSE:KFY)

Jennison Associates LLC acquired a new stake in shares of Korn Ferry (NYSE:KFY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,487 shares of the business services provider’s stock, valued at approximately $1,338,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Korn Ferry by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 5,690,605 shares of the business services provider’s stock valued at $412,852,000 after acquiring an additional 75,375 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Korn Ferry by 11.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,264,921 shares of the business services provider’s stock valued at $164,320,000 after buying an additional 238,650 shares during the last quarter. State Street Corp grew its holdings in Korn Ferry by 1.0% in the 2nd quarter. State Street Corp now owns 1,738,573 shares of the business services provider’s stock valued at $126,133,000 after buying an additional 16,950 shares during the last quarter. Paradice Investment Management LLC grew its holdings in Korn Ferry by 3.8% in the 3rd quarter. Paradice Investment Management LLC now owns 1,069,399 shares of the business services provider’s stock valued at $77,382,000 after buying an additional 38,668 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Korn Ferry by 4.0% in the 2nd quarter. Geode Capital Management LLC now owns 912,965 shares of the business services provider’s stock valued at $66,235,000 after buying an additional 34,924 shares during the last quarter. 92.97% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:KFY opened at $73.40 on Friday. Korn Ferry has a 1-year low of $45.60 and a 1-year high of $84.68. The firm has a market capitalization of $3.99 billion, a PE ratio of 14.98 and a beta of 1.50. The business’s 50 day moving average is $76.65 and its 200-day moving average is $73.20. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.27.

Korn Ferry (NYSE:KFY) last posted its earnings results on Wednesday, December 8th. The business services provider reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.16. The business had revenue of $639.40 million during the quarter, compared to the consensus estimate of $604.67 million. Korn Ferry had a return on equity of 19.88% and a net margin of 11.83%. Korn Ferry’s revenue was up 46.9% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS. On average, sell-side analysts predict that Korn Ferry will post 5.78 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 14th. Investors 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 (DPR) is presently 9.80%.

In related news, CEO Gary D. Burnison sold 9,779 shares of the firm’s stock in a transaction that occurred on Wednesday, January 5th. The stock was sold at an average price of $77.72, for a total transaction of $760,023.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by company insiders.

A number of analysts have issued reports on the company. Robert W. Baird raised their target price 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 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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Institutional Ownership by Quarter for Korn Ferry (NYSE:KFY)

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