Bank of New York Mellon Corp Sells 205,609 Shares of Korn/Ferry International (NYSE:KFY)

Bank of New York Mellon Corp trimmed its stake in shares of Korn/Ferry International (NYSE:KFY - Free Report) by 25.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 606,203 shares of the business services provider's stock after selling 205,609 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.18% of Korn/Ferry International worth $41,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in KFY. Versant Capital Management Inc raised its position in shares of Korn/Ferry International by 75.9% during the first quarter. Versant Capital Management Inc now owns 517 shares of the business services provider's stock worth $35,000 after purchasing an additional 223 shares during the period. CX Institutional purchased a new stake in shares of Korn/Ferry International during the 1st quarter worth approximately $39,000. Wealthfront Advisers LLC purchased a new stake in Korn/Ferry International in the 4th quarter worth about $76,000. Sterling Capital Management LLC lifted its stake in shares of Korn/Ferry International by 828.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,671 shares of the business services provider's stock valued at $113,000 after buying an additional 1,491 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Korn/Ferry International by 11.4% during the 1st quarter. GAMMA Investing LLC now owns 1,937 shares of the business services provider's stock valued at $131,000 after buying an additional 199 shares in the last quarter. 98.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KFY. Truist Financial raised their target price on shares of Korn/Ferry International from $80.00 to $88.00 and gave the company a "buy" rating in a research note on Friday, June 20th. UBS Group reduced their price objective on 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. Finally, Wall Street Zen lowered Korn/Ferry International from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, July 9th.

Korn/Ferry International Trading Down 2.7%

Shares of Korn/Ferry International stock traded down $1.98 during trading on Tuesday, reaching $72.10. 460,557 shares of the stock were exchanged, compared to its average volume of 402,042. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 15.61 and a beta of 1.42. Korn/Ferry International has a 1 year low of $59.23 and a 1 year high of $80.64. The stock's fifty day moving average is $69.81 and its 200 day moving average is $67.43. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.21.

Korn/Ferry International (NYSE:KFY - Get Free Report) last announced its quarterly earnings data on Wednesday, June 18th. The business services provider reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.06. Korn/Ferry International had a net margin of 8.91% and a return on equity of 14.49%. The business had revenue of $712.05 million for the quarter, compared to analysts' expectations of $690.07 million. During the same quarter in the prior year, the company earned $1.26 earnings per share. The business's revenue was up 3.1% compared to the same quarter last year. As a group, equities research analysts expect that Korn/Ferry International will post 4.75 earnings per share for the current fiscal year.

Korn/Ferry International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Thursday, July 3rd. Korn/Ferry International's payout ratio is 41.56%.

Korn/Ferry International 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.