Nisa Investment Advisors LLC Cuts Stake in Korn/Ferry International (NYSE:KFY)

Nisa Investment Advisors LLC cut its position in Korn/Ferry International (NYSE:KFY) by 13.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,666 shares of the business services provider’s stock after selling 423 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Korn/Ferry International were worth $182,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its holdings in shares of Korn/Ferry International by 2.0% in the first quarter. Envestnet Asset Management Inc. now owns 158,358 shares of the business services provider’s stock worth $10,741,000 after buying an additional 3,140 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Korn/Ferry International by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 284,607 shares of the business services provider’s stock valued at $19,305,000 after acquiring an additional 5,128 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Korn/Ferry International by 4.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,388,500 shares of the business services provider’s stock valued at $95,001,000 after buying an additional 62,779 shares during the period. Artemis Investment Management LLP raised its position in Korn/Ferry International by 64.7% during the 1st quarter. Artemis Investment Management LLP now owns 620,521 shares of the business services provider’s stock valued at $42,090,000 after purchasing an additional 243,759 shares during the last quarter. Finally, Institute for Wealth Management LLC. purchased a new stake in shares of Korn/Ferry International in the 1st quarter worth about $223,000. 98.82% of the stock is owned by hedge funds and other institutional investors.

Korn/Ferry International Trading Up 1.2%

NYSE:KFY opened at $74.51 on Friday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 16.13 and a beta of 1.42. Korn/Ferry International has a 52 week low of $59.23 and a 52 week high of $80.64. The firm has a 50 day moving average of $70.52 and a 200 day moving average of $67.61.

Korn/Ferry International (NYSE:KFY) last posted its quarterly earnings results on Wednesday, June 18th. The business services provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.06. The business had revenue of $712.05 million for the quarter, compared to the consensus estimate of $690.07 million. Korn/Ferry International had a return on equity of 14.49% and a net margin of 8.91%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 EPS. As a group, sell-side analysts anticipate that Korn/Ferry International will post 4.75 earnings per share for the current fiscal year.

Korn/Ferry International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be paid a $0.48 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.92 annualized dividend and a dividend yield of 2.58%. Korn/Ferry International’s dividend payout ratio is presently 41.56%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on KFY shares. UBS Group cut their price objective on shares of Korn/Ferry International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 27th. Wall Street Zen downgraded Korn/Ferry International from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 9th. Finally, Truist Financial upped their price objective on Korn/Ferry International from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, June 20th.

About Korn/Ferry International

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.