BlueMountain Capital Management LLC Acquires New Stake in Korn/Ferry International (KFY)

BlueMountain Capital Management LLC acquired a new stake in shares of Korn/Ferry International (NYSE:KFY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,540 shares of the business services provider’s stock, valued at approximately $157,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Korn/Ferry International by 10.1% in the second quarter. BlackRock Inc. now owns 8,208,282 shares of the business services provider’s stock valued at $508,338,000 after acquiring an additional 751,080 shares during the period. OppenheimerFunds Inc. lifted its holdings in Korn/Ferry International by 2.6% in the first quarter. OppenheimerFunds Inc. now owns 1,268,871 shares of the business services provider’s stock valued at $65,461,000 after acquiring an additional 32,311 shares during the period. Principal Financial Group Inc. lifted its holdings in Korn/Ferry International by 19.2% in the first quarter. Principal Financial Group Inc. now owns 1,073,534 shares of the business services provider’s stock valued at $55,384,000 after acquiring an additional 172,847 shares during the period. Nuveen Asset Management LLC lifted its holdings in Korn/Ferry International by 7.6% in the first quarter. Nuveen Asset Management LLC now owns 682,584 shares of the business services provider’s stock valued at $35,215,000 after acquiring an additional 48,251 shares during the period. Finally, Royal Bank of Canada lifted its holdings in Korn/Ferry International by 0.6% in the first quarter. Royal Bank of Canada now owns 657,556 shares of the business services provider’s stock valued at $33,924,000 after acquiring an additional 4,131 shares during the period. 90.42% of the stock is currently owned by institutional investors.

NYSE KFY opened at $49.23 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.14 and a current ratio of 2.14. Korn/Ferry International has a 52 week low of $38.07 and a 52 week high of $68.98. The stock has a market capitalization of $2.80 billion, a PE ratio of 18.10 and a beta of 1.20.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Thursday, September 27th. Korn/Ferry International’s dividend payout ratio (DPR) is currently 14.71%.

In other news, Director Debra J. Perry sold 3,422 shares of the firm’s stock in a transaction dated Thursday, June 28th. The stock was sold at an average price of $60.26, for a total value of $206,209.72. Following the transaction, the director now owns 23,030 shares of the company’s stock, valued at $1,387,787.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert P. Rozek sold 19,302 shares of the firm’s stock in a transaction dated Tuesday, July 10th. The stock was sold at an average price of $63.28, for a total value of $1,221,430.56. Following the completion of the transaction, the chief financial officer now directly owns 81,608 shares in the company, valued at approximately $5,164,154.24. The disclosure for this sale can be found here. Insiders sold 46,293 shares of company stock worth $2,923,128 in the last ninety days. Corporate insiders own 0.91% of the company’s stock.

A number of research analysts have weighed in on the company. Zacks Investment Research raised Korn/Ferry International from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Tuesday, September 11th. ValuEngine downgraded Korn/Ferry International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 4th. Sidoti increased their target price on Korn/Ferry International from $65.00 to $80.00 in a report on Thursday, June 14th. SunTrust Banks increased their target price on Korn/Ferry International to $72.00 and gave the company a “buy” rating in a report on Thursday, June 14th. Finally, TheStreet downgraded Korn/Ferry International from an “a-” rating to a “c+” rating in a report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $61.40.

Korn/Ferry International Company Profile

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

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