Ariel Investments LLC Has $38.22 Million Stake in Korn Ferry (NYSE:KFY)

Ariel Investments LLC cut its position in shares of Korn Ferry (NYSE:KFY - Free Report) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 566,567 shares of the business services provider's stock after selling 51,160 shares during the period. Ariel Investments LLC owned 1.10% of Korn Ferry worth $38,215,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP acquired 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 worth $42,360,000. Rockefeller Capital Management L.P. boosted its holdings 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 worth $55,724,000 after purchasing an additional 438,644 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Korn Ferry by 193.9% during the third quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider's stock valued at $32,050,000 after buying an additional 281,024 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of 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 worth $76,458,000 after buying an additional 184,170 shares during the last quarter. 98.82% of the stock is currently owned by institutional investors and hedge funds.

Korn Ferry Stock Performance

KFY traded up $2.05 during trading on Thursday, reaching $66.42. 72,796 shares of the company's stock were exchanged, compared to its average volume of 376,922. The company has a market capitalization of $3.43 billion, a P/E ratio of 14.19 and a beta of 1.41. 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 business has a 50 day moving average price of $64.39 and a 200 day moving average price of $68.51. Korn Ferry has a fifty-two week low of $59.23 and a fifty-two week high of $80.64.

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

Korn Ferry Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Thursday, March 27th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.89%. This is a boost from Korn Ferry's previous quarterly dividend of $0.37. The ex-dividend date was Thursday, March 27th. Korn Ferry's dividend payout ratio is 41.29%.

Wall Street Analyst Weigh In

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

Korn Ferry 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.