Bank of America Corp DE Sells 29,792 Shares of Korn/Ferry International $KFY

Key Points

• Bank of America reduced its Korn/Ferry International stake by 6.6%, selling 29,792 shares and retaining 420,502 shares valued at approximately $26.5 million. Institutional investors collectively own 98.82% of the company.
• Korn/Ferry exceeded quarterly expectations, reporting $1.40 EPS versus the $1.37 estimate and revenue of $768.26 million, up 6.7% year over year.
• The company maintains a quarterly dividend of $0.55 per share, or $2.20 annually, representing a 2.6% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $78.50.

Bank of America Corp DE lessened its position in Korn/Ferry International (NYSE:KFY - Free Report) by 6.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 420,502 shares of the business services provider's stock after selling 29,792 shares during the quarter. Bank of America Corp DE owned 0.81% of Korn/Ferry International worth $26,471,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Korn/Ferry International by 48.3% during the third quarter. Wellington Management Group LLP now owns 3,475,576 shares of the business services provider's stock valued at $243,221,000 after buying an additional 1,132,473 shares during the last quarter. Norges Bank bought a new position in Korn/Ferry International in the 4th quarter valued at $43,163,000. Adage Capital Partners GP L.L.C. bought a new position in Korn/Ferry International in the 2nd quarter valued at $32,559,000. Boston Partners purchased a new stake in Korn/Ferry International in the fourth quarter worth $26,081,000. Finally, M&T Bank Corp lifted its position in shares of Korn/Ferry International by 5,956.0% during the fourth quarter. M&T Bank Corp now owns 229,884 shares of the business services provider's stock worth $15,177,000 after purchasing an additional 226,088 shares during the last quarter. 98.82% of the stock is owned by hedge funds and other institutional investors.

Korn/Ferry International Stock Up 0.1%

Shares of NYSE KFY opened at $84.25 on Monday. Korn/Ferry International has a 12-month low of $58.95 and a 12-month high of $85.69. The stock's fifty day simple moving average is $76.04 and its two-hundred day simple moving average is $68.79. The stock has a market capitalization of $4.33 billion, a PE ratio of 16.08 and a beta of 1.19. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.20.

Korn/Ferry International (NYSE:KFY - Get Free Report) last issued its quarterly earnings data on Tuesday, June 23rd. The business services provider reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.03. The firm had revenue of $768.26 million during the quarter, compared to analysts' expectations of $743.35 million. Korn/Ferry International had a return on equity of 14.34% and a net margin of 9.44%.The firm's quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.32 EPS. Korn/Ferry International has set its Q1 2027 guidance at 1.320-1.380 EPS. As a group, analysts expect that Korn/Ferry International will post 5.75 EPS for the current fiscal year.

Korn/Ferry International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Monday, July 6th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, July 6th. Korn/Ferry International's payout ratio is 41.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Korn/Ferry International from $70.00 to $75.00 and gave the company a "neutral" rating in a report on Wednesday, June 24th. Truist Financial lifted their price target on shares of Korn/Ferry International from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, June 9th. Robert W. Baird increased their price objective on Korn/Ferry International from $84.00 to $85.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 24th. Weiss Ratings upgraded Korn/Ferry International from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, June 23rd. Finally, Wall Street Zen cut Korn/Ferry International from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Korn/Ferry International has an average rating of "Moderate Buy" and a consensus target price of $78.50.

Korn/Ferry International Profile

Korn Ferry International is a global organizational consulting firm that partners with clients to design optimal structures, roles and responsibilities. The company's core offerings include executive search, talent acquisition, leadership development and succession planning. By blending deep industry expertise with data-driven insights, Korn Ferry helps organizations identify, assess and develop executives and high-potential talent for critical roles.

Since its founding in 1969 and with headquarters in Los Angeles, Korn Ferry has expanded its presence to more than 50 offices across North America, Europe, Asia Pacific and Latin America.

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