Mutual of America Capital Management LLC Sells 41,111 Shares of Korn/Ferry International (NYSE:KFY)

Key Points

• Mutual of America Capital Management LLC significantly reduced its investment in Korn/Ferry International by selling 41,111 shares, resulting in an 84.6% decrease in ownership.
• Korn/Ferry International reported a quarterly earnings per share (EPS) of $1.32, exceeding estimates and showing a year-over-year revenue growth of 3.1%.
• A recent quarterly dividend of $0.48 was declared by Korn/Ferry, translating to an annual yield of 2.7% and a payout ratio of 41.56%.

Mutual of America Capital Management LLC cut its stake in Korn/Ferry International (NYSE:KFY - Free Report) by 84.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,512 shares of the business services provider's stock after selling 41,111 shares during the period. Mutual of America Capital Management LLC's holdings in Korn/Ferry International were worth $510,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in shares of Korn/Ferry International by 75.9% during 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 last quarter. CX Institutional bought a new position in shares of Korn/Ferry International during the first quarter worth approximately $39,000. Headlands Technologies LLC acquired a new stake in shares of Korn/Ferry International during the 1st quarter worth approximately $105,000. Sterling Capital Management LLC boosted its position 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 worth $113,000 after acquiring an additional 1,491 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in 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 buying an additional 199 shares in the last quarter. 98.82% of the stock is owned by institutional investors and hedge funds.

Korn/Ferry International Price Performance

Korn/Ferry International stock traded down $0.68 during midday trading on Friday, reaching $72.57. 234,164 shares of the stock were exchanged, compared to its average volume of 277,112. The company's fifty day moving average is $72.12 and its 200-day moving average is $68.11. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.83 and a current ratio of 1.83. The firm has a market cap of $3.80 billion, a PE ratio of 15.71 and a beta of 1.47. Korn/Ferry International has a 52 week low of $59.23 and a 52 week high of $80.64.

Korn/Ferry International (NYSE:KFY - Get Free Report) last posted its earnings results 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. The business had revenue of $712.05 million for the quarter, compared to analyst estimates of $690.07 million. Korn/Ferry International had a net margin of 8.91% and a return on equity of 14.49%. Korn/Ferry International's revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 EPS. On average, sell-side analysts forecast that Korn/Ferry International will post 4.75 EPS for the current year.

Korn/Ferry International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, July 3rd. Korn/Ferry International's dividend payout ratio is 41.56%.

Analysts Set New Price Targets

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

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.