BlueMountain Capital Management LLC Invests $157,000 in Korn/Ferry International (KFY)
BlueMountain Capital Management LLC bought a new position in shares of Korn/Ferry International (NYSE:KFY) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 2,540 shares of the business services provider’s stock, valued at approximately $157,000.
Several other large investors have also added to or reduced their stakes in KFY. United Services Automobile Association grew its holdings in Korn/Ferry International by 3,284.9% during the 2nd quarter. United Services Automobile Association now owns 370,985 shares of the business services provider’s stock valued at $8,640,000 after buying an additional 360,025 shares in the last quarter. ClariVest Asset Management LLC purchased a new position in Korn/Ferry International during the 2nd quarter valued at approximately $4,181,000. Federated Investors Inc. PA grew its holdings in Korn/Ferry International by 5,221.3% during the 2nd quarter. Federated Investors Inc. PA now owns 49,116 shares of the business services provider’s stock valued at $3,042,000 after buying an additional 48,193 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Korn/Ferry International during the 2nd quarter valued at approximately $268,000. Finally, Legal & General Group Plc grew its holdings in Korn/Ferry International by 6.1% during the 2nd quarter. Legal & General Group Plc now owns 122,612 shares of the business services provider’s stock valued at $7,537,000 after buying an additional 7,048 shares in the last quarter. Hedge funds and other institutional investors own 90.42% of the company’s stock.
Several equities analysts have weighed in on the company. Zacks Investment Research cut Korn/Ferry International from a “buy” rating to a “hold” rating in a report on Thursday, August 30th. Credit Suisse Group assumed coverage on Korn/Ferry International in a report on Friday, August 10th. They set an “underperform” rating and a $55.00 price target for the company. ValuEngine cut Korn/Ferry International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 4th. SunTrust Banks raised their price target on Korn/Ferry International to $72.00 and gave the company a “buy” rating in a report on Thursday, June 14th. Finally, Sidoti raised their price target on Korn/Ferry International from $65.00 to $80.00 in a report on Thursday, June 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Korn/Ferry International presently has a consensus rating of “Hold” and an average target price of $61.40.
Korn/Ferry International (NYSE:KFY) last announced its earnings results on Thursday, September 6th. The business services provider reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.07. The firm had revenue of $465.60 million during the quarter, compared to analysts’ expectations of $458.24 million. Korn/Ferry International had a return on equity of 14.26% and a net margin of 3.51%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. research analysts forecast that Korn/Ferry International will post 3.3 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Thursday, September 27th. Korn/Ferry International’s dividend payout ratio (DPR) is 14.71%.
In other news, CEO Byrne K. Mulrooney sold 1,607 shares of Korn/Ferry International stock in a transaction that occurred on Friday, July 13th. The stock was sold at an average price of $65.07, for a total value of $104,567.49. Following the completion of the transaction, the chief executive officer now owns 74,680 shares in the company, valued at approximately $4,859,427.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Debra J. Perry sold 3,422 shares of Korn/Ferry International stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $60.26, for a total value of $206,209.72. Following the completion of the transaction, the director now owns 23,030 shares of the company’s stock, valued at approximately $1,387,787.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,293 shares of company stock valued at $2,923,128. Company insiders own 0.91% of the company’s stock.
About Korn/Ferry International
Korn/Ferry International, 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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