Korn/Ferry International (NYSE:KFY) Shares Sold by Mutual of America Capital Management LLC

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

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KFY. Xponance Inc. lifted its position in Korn/Ferry International by 3.8% in the first quarter. Xponance Inc. now owns 5,004 shares of the business services provider's stock valued at $339,000 after purchasing an additional 184 shares during the period. Hohimer Wealth Management LLC lifted its position in Korn/Ferry International by 5.8% in the first quarter. Hohimer Wealth Management LLC now owns 3,439 shares of the business services provider's stock valued at $233,000 after purchasing an additional 188 shares during the period. GAMMA Investing LLC lifted its position in shares of 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 acquiring an additional 199 shares during the period. 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 acquiring an additional 223 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in shares of Korn/Ferry International by 4.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,432 shares of the business services provider's stock worth $366,000 after acquiring an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 98.82% of the company's stock.

Korn/Ferry International Price Performance

Shares of Korn/Ferry International stock traded down $0.70 during trading on Friday, hitting $72.55. 116,730 shares of the company were exchanged, compared to its average volume of 422,969. 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 has a fifty-two week low of $59.23 and a fifty-two week high of $80.64. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 15.70 and a beta of 1.47. The firm has a 50 day moving average price of $72.07 and a 200 day moving average price of $68.10.

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

Korn/Ferry International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders 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 annualized dividend and a yield of 2.6%. Korn/Ferry International's payout ratio is 41.56%.

Analyst Ratings Changes

Several brokerages have recently commented on KFY. Wall Street Zen lowered Korn/Ferry International from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, July 9th. Truist Financial boosted their price target on Korn/Ferry International from $80.00 to $88.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Finally, UBS Group decreased their price target on 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.

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.