The Swiss National Bank increased its equity stake in Korn Ferry (NYSE: KFY – Get a rating) by 5.2% in Q1, according to the company in its latest filing with the Securities & Exchange Commission. The fund held 128,900 shares of the business services provider after buying an additional 6,400 shares during the quarter. The Swiss National Bank held 0.24% of Korn Ferry worth $8,371,000 at the end of the last reporting period.
Several other institutional investors and hedge funds also changed their stakes in the company. American Century Companies Inc. increased its position in Korn Ferry shares by 5.8% during the fourth quarter. American Century Companies Inc. now owns 1,547,747 shares of the business services provider worth $117,211,000 after purchasing an additional 84,445 shares in the last quarter. Geode Capital Management LLC increased its position in Korn Ferry shares by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 1,020,441 shares of the business services provider worth $77,278,000 after purchasing an additional 56,091 shares in the last quarter. Royce & Associates LP increased its position in Korn Ferry shares by 22.3% during the first quarter. Royce & Associates LP now owns 683,407 shares of the business services provider worth $44,380,000 after buying an additional 124,790 shares in the last quarter. JPMorgan Chase & Co. raised its position in Korn Ferry by 6.1% in the fourth quarter. JPMorgan Chase & Co. now owns 551,033 shares of the business services provider valued at $41,730,000 after buying an additional 31,535 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Korn Ferry by 13.0% in the fourth quarter. Principal Financial Group Inc. now owns 516,696 shares of the business services provider valued at $39,130,000 after buying an additional 59,297 shares in the last quarter. 95.75% of the shares are currently held by institutional investors.
A Wall Street analyst gives his opinion
Several stock analysts have commented on the company. Goldman Sachs Group lowered its price target on Korn Ferry from $83.00 to $74.00 and set a “buy” rating for the company in a Tuesday, June 7 research report. Robert W. Baird lowered his price target on Korn Ferry from $90.00 to $72.00 and set an “outperform” rating for the company in a Thursday, June 23 research report. Truist Financial lowered its price target on Korn Ferry from $98.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, June 17. To finish, StockNews.com downgraded Korn Ferry from a “Strong Buy” rating to a “Buy” rating in a Wednesday, August 10 research report.
Korn Ferry is trading down 0.5%
Shares of KFY Stock opened at $65.96 on Friday. The stock has a market capitalization of $3.50 billion, a price-earnings ratio of 11.01 and a beta of 1.40. The stock has a 50-day moving average of $60.66 and a 200-day moving average of $62.58. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt ratio of 0.26. Korn Ferry has a 1-year low of $51.08 and a 1-year high of $84.68.
Korn Ferry (NYSE: KFY – Get a rating) last released its quarterly results on Wednesday, June 22. The business services provider reported earnings per share of $1.75 for the quarter, beating the consensus estimate of $1.57 by $0.18. The company posted revenue of $721.14 million in the quarter, compared to $681.98 million expected by analysts. Korn Ferry had a return on equity of 22.71% and a net margin of 12.35%. On average, equity research analysts expect Korn Ferry to post earnings per share of 5.99 for the current year.
Korn Ferry increases its dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 29. Investors of record on Wednesday July 6 received a dividend of $0.15 per share. The ex-dividend date was Tuesday, July 5. This represents an annualized dividend of $0.60 and a yield of 0.91%. This is a boost from Korn Ferry’s previous quarterly dividend of $0.12. Korn Ferry’s dividend payout ratio (DPR) is currently 10.02%.
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 talent at the level of the board of directors, general manager, other senior executives and general management of organizations.
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