Neumeier Poma Investment Counsel LLC Sells 6,190 Shares of Korn/Ferry International (NYSE:KFY)

Key Points

• Neumeier Poma Investment Counsel LLC reduced its position in Korn/Ferry International by 1.9%, currently owning 320,600 shares worth approximately $21.7 million, making it the fund's 20th largest position.
• Korn/Ferry International reported an earnings per share (EPS) of $1.32 for the last quarter, beating estimates and achieving a 3.1% year-over-year revenue increase to $712.05 million.
• The company announced a quarterly dividend of $0.48, resulting in an annualized dividend yield of 2.7% with a payout ratio of 41.56%.

Neumeier Poma Investment Counsel LLC decreased its stake in Korn/Ferry International (NYSE:KFY - Free Report) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 320,600 shares of the business services provider's stock after selling 6,190 shares during the period. Korn/Ferry International makes up 2.3% of Neumeier Poma Investment Counsel LLC's investment portfolio, making the stock its 20th largest holding. Neumeier Poma Investment Counsel LLC owned 0.62% of Korn/Ferry International worth $21,746,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake in shares of Korn/Ferry International by 75.9% in the first quarter. Versant Capital Management Inc now owns 517 shares of the business services provider's stock valued at $35,000 after purchasing an additional 223 shares during the period. CX Institutional acquired a new stake in shares of Korn/Ferry International in the first quarter valued at about $39,000. Headlands Technologies LLC acquired a new stake in shares of Korn/Ferry International in the first quarter valued at about $105,000. Sterling Capital Management LLC lifted its stake in shares of Korn/Ferry International by 828.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,671 shares of the business services provider's stock valued at $113,000 after purchasing an additional 1,491 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Korn/Ferry International by 11.4% in the first quarter. GAMMA Investing LLC now owns 1,937 shares of the business services provider's stock valued at $131,000 after purchasing an additional 199 shares during the period. Institutional investors and hedge funds own 98.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. UBS Group cut their price objective on shares of Korn/Ferry International from $75.00 to $74.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. Truist Financial increased their target price on shares of Korn/Ferry International from $80.00 to $88.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Finally, Wall Street Zen cut shares of Korn/Ferry International from a "strong-buy" rating to a "buy" rating in a report on Wednesday, July 9th.

Korn/Ferry International Trading Up 0.9%

Shares of NYSE:KFY traded up $0.61 during midday trading on Friday, reaching $71.11. The company had a trading volume of 171,735 shares, compared to its average volume of 325,423. The company has a fifty day simple moving average of $71.79 and a two-hundred day simple moving average of $68.05. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 15.39 and a beta of 1.47. Korn/Ferry International 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 0.21, a quick ratio of 1.83 and a current ratio of 1.83.

Korn/Ferry International (NYSE:KFY - Get Free Report) last posted its quarterly earnings results on Wednesday, June 18th. The business services provider reported $1.32 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $690.07 million. During the same period in the prior year, the firm earned $1.26 earnings per share. The firm's revenue was up 3.1% compared to the same quarter last year. Research analysts predict that Korn/Ferry International will post 4.75 earnings per share for the current year.

Korn/Ferry International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were issued a $0.48 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 2.7%. Korn/Ferry International's dividend payout ratio is currently 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.