Flagship Harbor Advisors LLC purchased a new position in Korn/Ferry International (NYSE:KFY) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 2,308 shares of the business services provider’s stock, valued at approximately $142,000.

A number of other hedge funds also recently made changes to their positions in KFY. BlackRock Inc. lifted its stake in Korn/Ferry International by 10.1% in the 2nd quarter. BlackRock Inc. now owns 8,208,282 shares of the business services provider’s stock worth $508,338,000 after purchasing an additional 751,080 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in Korn/Ferry International in the 1st quarter worth $29,031,000. United Services Automobile Association lifted its stake in Korn/Ferry International by 3,284.9% in the 2nd quarter. United Services Automobile Association now owns 370,985 shares of the business services provider’s stock worth $8,640,000 after purchasing an additional 360,025 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Korn/Ferry International by 363.8% in the 2nd quarter. Renaissance Technologies LLC now owns 238,400 shares of the business services provider’s stock worth $14,764,000 after purchasing an additional 187,000 shares in the last quarter. Finally, Columbus Circle Investors purchased a new stake in Korn/Ferry International in the 1st quarter worth $9,366,000. Institutional investors and hedge funds own 89.66% of the company’s stock.

Shares of KFY stock opened at $50.13 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.82 and a current ratio of 2.14. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 18.43 and a beta of 1.19. Korn/Ferry International has a 52 week low of $36.13 and a 52 week high of $68.98.

Korn/Ferry International (NYSE:KFY) last announced its earnings results on Thursday, September 6th. The business services provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.07. The firm had revenue of $465.60 million for the quarter, compared to analysts’ expectations of $458.24 million. Korn/Ferry International had a net margin of 3.51% and a return on equity of 14.26%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. equities analysts expect that Korn/Ferry International will post 3.3 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, September 27th. Korn/Ferry International’s dividend payout ratio is 14.71%.

KFY has been the topic of several research analyst reports. Zacks Investment Research cut shares of Korn/Ferry International from a “buy” rating to a “hold” rating in a research note on Thursday, August 30th. Credit Suisse Group initiated coverage on shares of Korn/Ferry International in a research note on Friday, August 10th. They issued an “underperform” rating and a $55.00 price target on the stock. Sidoti boosted their price target on shares of Korn/Ferry International from $65.00 to $80.00 in a research note on Thursday, June 14th. SunTrust Banks boosted their price target on shares of Korn/Ferry International to $72.00 and gave the stock a “buy” rating in a research note on Thursday, June 14th. Finally, ValuEngine cut shares of Korn/Ferry International from a “buy” rating to a “hold” rating in a research note on Monday, September 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $61.40.

In other news, CEO Byrne K. Mulrooney sold 1,607 shares of the company’s stock in a transaction dated Friday, July 13th. The shares were sold at an average price of $65.07, for a total transaction of $104,567.49. Following the sale, the chief executive officer now directly owns 74,680 shares in the company, valued at approximately $4,859,427.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Debra J. Perry sold 3,422 shares of the company’s stock in a transaction dated Thursday, June 28th. The shares were sold at an average price of $60.26, for a total transaction of $206,209.72. Following the sale, the director now owns 23,030 shares in the company, valued at $1,387,787.80. The disclosure for this sale can be found here. Insiders have sold a total of 46,293 shares of company stock worth $2,923,128 over the last 90 days. Corporate 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.

Further Reading: Asset Allocation, Balancing Your Investments

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Institutional Ownership by Quarter for Korn/Ferry International (NYSE:KFY)

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