Bank of America Corp DE Trims Stock Position in Korn Ferry (NYSE:KFY)

Bank of America Corp DE decreased its position in Korn Ferry (NYSE:KFY) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 314,281 shares of the business services provider’s stock after selling 35,103 shares during the period. Bank of America Corp DE owned 0.61% of Korn Ferry worth $21,198,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. raised its position in Korn Ferry by 5.6% in the fourth quarter. Invesco Ltd. now owns 1,840,784 shares of the business services provider’s stock valued at $124,161,000 after purchasing an additional 97,811 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Korn Ferry by 19.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,133,548 shares of the business services provider’s stock valued at $76,458,000 after buying an additional 184,170 shares during the period. Jennison Associates LLC lifted its stake in Korn Ferry by 8.1% during the 4th quarter. Jennison Associates LLC now owns 1,067,813 shares of the business services provider’s stock worth $72,024,000 after acquiring an additional 79,808 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Korn Ferry by 11.5% during the 4th quarter. Victory Capital Management Inc. now owns 888,776 shares of the business services provider’s stock valued at $59,948,000 after acquiring an additional 91,461 shares during the period. Finally, Royce & Associates LP grew its position in Korn Ferry by 3.8% in the 4th quarter. Royce & Associates LP now owns 846,195 shares of the business services provider’s stock valued at $57,076,000 after acquiring an additional 30,959 shares in the last quarter. Institutional investors and hedge funds own 98.82% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Truist Financial reduced their price target on shares of Korn Ferry from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th.

Korn Ferry Trading Up 0.3%

NYSE:KFY opened at $68.66 on Tuesday. Korn Ferry has a 12-month low of $59.23 and a 12-month high of $80.64. The firm has a market cap of $3.54 billion, a PE ratio of 14.67 and a beta of 1.41. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average price of $64.84 and a 200 day moving average price of $68.36.

Korn Ferry (NYSE:KFY) last issued its earnings results on Tuesday, March 11th. The business services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.06. The firm had revenue of $676.50 million during the quarter, compared to the consensus estimate of $650.45 million. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The company’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 earnings per share. Sell-side analysts anticipate that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Thursday, March 27th were paid a dividend of $0.48 per share. This is a boost from Korn Ferry’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.92 annualized dividend and a yield of 2.80%. Korn Ferry’s payout ratio is presently 41.29%.

Korn Ferry Company Profile

Korn Ferry, together with its subsidiaries, provides organizational consulting services worldwide. It operates through four segments: Consulting, Digital, Executive Search, and Recruitment Process Outsourcing (RPO) & Professional Search. The company provides executive search services to recruit board level, chief executive, other senior executive, and general management talent of organizations.