Alliancebernstein L.P. Reduces Holdings in Korn Ferry (NYSE:KFY)

Alliancebernstein L.P. cut its holdings in Korn Ferry (NYSE:KFY - Free Report) by 5.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 117,260 shares of the business services provider's stock after selling 6,111 shares during the period. Alliancebernstein L.P. owned 0.23% of Korn Ferry worth $7,909,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Wealthfront Advisers LLC purchased a new stake in Korn Ferry in the fourth quarter valued at approximately $76,000. Smartleaf Asset Management LLC grew its stake in shares of Korn Ferry by 230.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,381 shares of the business services provider's stock valued at $93,000 after buying an additional 963 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of Korn Ferry during the 4th quarter worth $122,000. New Age Alpha Advisors LLC purchased a new position in shares of Korn Ferry in the 4th quarter worth $162,000. Finally, KBC Group NV boosted its holdings in Korn Ferry by 68.5% in the fourth quarter. KBC Group NV now owns 2,542 shares of the business services provider's stock valued at $171,000 after acquiring an additional 1,033 shares during the last quarter. Hedge funds and other institutional investors own 98.82% of the company's stock.

Korn Ferry Trading Down 1.4 %

KFY traded down $0.85 during trading on Thursday, hitting $60.81. 85,686 shares of the company's stock were exchanged, compared to its average volume of 374,395. Korn Ferry has a 1 year low of $59.44 and a 1 year high of $80.64. The stock has a 50 day moving average price of $65.58 and a 200 day moving average price of $69.58. The firm has a market cap of $3.14 billion, a P/E ratio of 13.03 and a beta of 1.40. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22.

Korn Ferry (NYSE:KFY - Get Free Report) last announced its quarterly earnings results on Tuesday, March 11th. The business services provider reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.06. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The firm had revenue of $676.50 million during the quarter, compared to analysts' expectations of $650.45 million. During the same period in the prior year, the company earned $1.07 EPS. The firm's revenue was down .1% on a year-over-year basis. As a group, analysts expect that Korn Ferry will post 4.75 EPS for the current fiscal year.

Korn Ferry Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Thursday, March 27th were issued a dividend of $0.48 per share. This is an increase from Korn Ferry's previous quarterly dividend of $0.37. This represents a $1.92 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Thursday, March 27th. Korn Ferry's dividend payout ratio (DPR) is presently 41.29%.

Analyst Ratings Changes

Separately, Truist Financial dropped their price target on Korn Ferry from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Tuesday.

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.