Morgan Stanley Reduces Stake in Korn/Ferry International (KFY)
Morgan Stanley lowered its position in Korn/Ferry International (NYSE:KFY) by 51.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 157,312 shares of the business services provider’s stock after selling 166,317 shares during the period. Morgan Stanley’s holdings in Korn/Ferry International were worth $4,954,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in KFY. Dimensional Fund Advisors LP boosted its stake in Korn/Ferry International by 27.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,234,255 shares of the business services provider’s stock valued at $133,336,000 after buying an additional 913,207 shares in the last quarter. RidgeWorth Capital Management LLC acquired a new stake in Korn/Ferry International during the first quarter valued at approximately $25,757,000. Norges Bank acquired a new stake in Korn/Ferry International during the fourth quarter valued at approximately $11,559,000. American Century Companies Inc. boosted its stake in Korn/Ferry International by 86.3% in the first quarter. American Century Companies Inc. now owns 645,550 shares of the business services provider’s stock valued at $20,328,000 after buying an additional 299,050 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Korn/Ferry International by 5.7% in the first quarter. Vanguard Group Inc. now owns 4,807,533 shares of the business services provider’s stock valued at $151,389,000 after buying an additional 260,391 shares in the last quarter. Institutional investors and hedge funds own 90.12% of the company’s stock.
Korn/Ferry International (NYSE:KFY) traded up 0.30% during mid-day trading on Thursday, reaching $32.91. The company had a trading volume of 7,808 shares. The company’s 50 day moving average is $34.10 and its 200 day moving average is $32.00. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 22.45 and a beta of 1.40. Korn/Ferry International has a 52-week low of $19.94 and a 52-week high of $36.07.
Korn/Ferry International (NYSE:KFY) last announced its earnings results on Tuesday, June 20th. The business services provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.59 by $0.03. The business had revenue of $419.60 million for the quarter, compared to the consensus estimate of $405.33 million. Korn/Ferry International had a return on equity of 12.14% and a net margin of 5.19%. Korn/Ferry International’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.58 EPS. Equities analysts predict that Korn/Ferry International will post $2.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Wednesday, June 28th. Korn/Ferry International’s payout ratio is currently 27.21%.
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Several analysts recently commented on KFY shares. BidaskClub cut Korn/Ferry International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 13th. Zacks Investment Research cut Korn/Ferry International from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Finally, Sidoti started coverage on Korn/Ferry International in a research report on Monday, June 12th. They issued a “buy” rating and a $43.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $32.00.
In other news, CFO Robert P. Rozek sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $34.48, for a total value of $379,280.00. Following the transaction, the chief financial officer now directly owns 111,782 shares of the company’s stock, valued at approximately $3,854,243.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary D. Burnison sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $33.87, for a total value of $677,400.00. Following the completion of the transaction, the chief executive officer now directly owns 251,485 shares in the company, valued at $8,517,796.95. The disclosure for this sale can be found here. Insiders sold a total of 183,837 shares of company stock worth $6,336,501 over the last three months. 1.19% of the stock is owned by company insiders.
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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