First Hawaiian Bank Trims Stake in Korn Ferry (NYSE:KFY)

First Hawaiian Bank cut its stake in shares of Korn Ferry (NYSE:KFY - Free Report) by 29.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,263 shares of the business services provider's stock after selling 3,804 shares during the quarter. First Hawaiian Bank's holdings in Korn Ferry were worth $628,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Wealthfront Advisers LLC acquired a new position in Korn Ferry during the fourth quarter valued at $76,000. Smartleaf Asset Management LLC raised 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 last quarter. Sterling Capital Management LLC boosted its stake in shares of Korn Ferry by 828.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,671 shares of the business services provider's stock worth $113,000 after buying an additional 1,491 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Korn Ferry in the fourth quarter worth about $122,000. Finally, New Age Alpha Advisors LLC acquired a new stake in Korn Ferry during the fourth quarter worth about $162,000. 98.82% of the stock is owned by institutional investors and hedge funds.

Korn Ferry Price Performance

Shares of Korn Ferry stock traded up $0.40 on Wednesday, hitting $69.89. The company's stock had a trading volume of 115,418 shares, compared to its average volume of 377,246. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 14.93 and a beta of 1.42. Korn Ferry has a 1 year low of $59.23 and a 1 year high of $80.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a fifty day moving average price of $64.97 and a 200-day moving average price of $67.75.

Korn Ferry (NYSE:KFY - Get Free Report) last announced its earnings results on Tuesday, March 11th. The business services provider reported $1.19 earnings per share (EPS) 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 company's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the business earned $1.07 earnings per share. As a group, sell-side analysts anticipate that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Thursday, March 27th were issued a $0.48 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.75%. This is a positive change from Korn Ferry's previous quarterly dividend of $0.37. Korn Ferry's dividend payout ratio is currently 41.29%.

Analysts Set New Price Targets

A number of brokerages have issued reports on KFY. UBS Group decreased their price target on Korn Ferry from $75.00 to $74.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Truist Financial decreased their target price on shares of Korn Ferry from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Wall Street Zen raised shares of Korn Ferry from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th.

Korn Ferry Company 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.