Korn/Ferry International (NYSE:KFY) Shares Sold by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp reduced its stake in Korn/Ferry International by 18.2%, selling 8,036 shares in the first quarter, which leaves it with approximately 36,201 shares valued at $2.46 million.
• Korn/Ferry International reported a quarterly earnings per share (EPS) of $1.32, exceeding analysts' expectations of $1.26, and a revenue of $712.05 million, up 3.1% from the previous year.
• The company announced a quarterly dividend of $0.48 per share, yielding 2.8%, with a payout ratio of 41.56% as of the latest reporting period.

Alberta Investment Management Corp decreased its holdings in shares of Korn/Ferry International (NYSE:KFY - Free Report) by 18.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,201 shares of the business services provider's stock after selling 8,036 shares during the period. Alberta Investment Management Corp owned approximately 0.07% of Korn/Ferry International worth $2,456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KFY. Versant Capital Management Inc raised its position in shares of Korn/Ferry International by 75.9% in the 1st quarter. Versant Capital Management Inc now owns 517 shares of the business services provider's stock worth $35,000 after buying an additional 223 shares during the period. CX Institutional purchased a new position in shares of Korn/Ferry International in the 1st quarter worth $39,000. Sterling Capital Management LLC raised its position in shares of Korn/Ferry International by 828.3% in the 4th 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 period. GAMMA Investing LLC increased its holdings in Korn/Ferry International by 11.4% in the 1st 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 in the last quarter. Finally, Arkadios Wealth Advisors acquired a new stake in Korn/Ferry International in the 1st quarter valued at $214,000. Institutional investors and hedge funds own 98.82% of the company's stock.

Korn/Ferry International Stock Performance

NYSE KFY traded up $0.90 during trading hours on Tuesday, reaching $70.51. The company's stock had a trading volume of 86,523 shares, compared to its average volume of 431,776. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.21. The business has a 50-day simple moving average of $71.60 and a 200 day simple moving average of $68.01. Korn/Ferry International has a 52 week low of $59.23 and a 52 week high of $80.64. The stock has a market cap of $3.64 billion, a PE ratio of 15.21 and a beta of 1.47.

Korn/Ferry International (NYSE:KFY - Get Free Report) last issued its 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 firm had revenue of $712.05 million for the quarter, compared to analysts' expectations of $690.07 million. During the same quarter last year, the company posted $1.26 earnings per share. Korn/Ferry International's revenue was up 3.1% on a year-over-year basis. Equities research analysts predict that Korn/Ferry International will post 4.75 earnings per share for the current fiscal year.

Korn/Ferry International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Thursday, July 3rd. Korn/Ferry International's dividend payout ratio (DPR) is currently 41.56%.

Analyst Upgrades and Downgrades

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

About Korn/Ferry International

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.