Nuveen Asset Management LLC Sells 25,270 Shares of Korn Ferry (NYSE:KFY)

Nuveen Asset Management LLC lowered its stake in Korn Ferry (NYSE:KFY) by 10.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 215,939 shares of the business services provider’s stock after selling 25,270 shares during the quarter. Nuveen Asset Management LLC owned 0.42% of Korn Ferry worth $14,565,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KFY. Wellington Management Group LLP bought a new stake in Korn Ferry in the fourth quarter valued at approximately $51,454,000. Norges Bank bought a new stake in Korn Ferry in the fourth quarter valued at approximately $42,360,000. Rockefeller Capital Management L.P. lifted its position in Korn Ferry by 113.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 826,157 shares of the business services provider’s stock valued at $55,724,000 after purchasing an additional 438,644 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Korn Ferry by 19.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,133,548 shares of the business services provider’s stock valued at $76,458,000 after purchasing an additional 184,170 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Korn Ferry in the fourth quarter valued at approximately $10,727,000. Institutional investors own 98.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Truist Financial lowered their price objective on Korn Ferry from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Wall Street Zen upgraded Korn Ferry from a “buy” rating to a “strong-buy” rating in a report on Saturday.

Korn Ferry Price Performance

Shares of Korn Ferry stock opened at $67.49 on Monday. The business has a 50 day moving average of $64.90 and a 200 day moving average of $68.15. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.48 billion, a PE ratio of 14.42 and a beta of 1.41. Korn Ferry has a 52 week low of $59.23 and a 52 week high of $80.64.

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

Korn Ferry Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Thursday, March 27th were paid a $0.48 dividend. This is a boost from Korn Ferry’s previous quarterly dividend of $0.37. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, March 27th. Korn Ferry’s dividend payout ratio is currently 41.29%.

About Korn Ferry

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.