Korn/Ferry International (NYSE:KFY) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. significantly reduced its holdings in Korn/Ferry International by 73.2%, owning approximately 0.67% of the company worth $23.58 million after selling nearly one million shares.
• Korn/Ferry International reported an earnings per share (EPS) of $1.32 for the latest quarter, exceeding analysts' expectations and showing a year-over-year revenue increase of 3.1%.
• A quarterly dividend of $0.48 per share has been announced, translating to an annualized dividend of $1.92 and a yield of 2.61%.

Pacer Advisors Inc. lessened its position in shares of Korn/Ferry International (NYSE:KFY - Free Report) by 73.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 347,577 shares of the business services provider's stock after selling 951,569 shares during the quarter. Pacer Advisors Inc. owned about 0.67% of Korn/Ferry International worth $23,576,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Korn/Ferry International in the first quarter valued at approximately $1,185,000. Choreo LLC purchased a new stake in Korn/Ferry International in the first quarter valued at approximately $229,000. Gallacher Capital Management LLC purchased a new stake in Korn/Ferry International in the first quarter valued at approximately $691,000. Verdence Capital Advisors LLC raised its position in Korn/Ferry International by 62.2% in the first quarter. Verdence Capital Advisors LLC now owns 8,071 shares of the business services provider's stock valued at $547,000 after purchasing an additional 3,096 shares during the period. Finally, Victory Capital Management Inc. raised its position in Korn/Ferry International by 3.6% in the first quarter. Victory Capital Management Inc. now owns 920,758 shares of the business services provider's stock valued at $62,455,000 after purchasing an additional 31,982 shares during the period. Hedge funds and other institutional investors own 98.82% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on KFY shares. Wall Street Zen lowered Korn/Ferry International from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, July 9th. Truist Financial upped their price objective on 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 cut their price objective on 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.

Korn/Ferry International Stock Down 0.1%

Shares of Korn/Ferry International stock traded down $0.06 during trading hours on Wednesday, reaching $72.50. 28,582 shares of the company were exchanged, compared to its average volume of 436,043. Korn/Ferry International has a 1 year low of $59.23 and a 1 year high of $80.64. The stock's fifty day moving average is $71.39 and its 200 day moving average is $67.99. 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 $3.74 billion, a PE ratio of 15.71 and a beta of 1.42.

Korn/Ferry International (NYSE:KFY - Get Free Report) last posted its earnings results on Wednesday, June 18th. The business services provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.26 by $0.06. The firm had revenue of $712.05 million for the quarter, compared to analyst estimates of $690.07 million. Korn/Ferry International had a return on equity of 14.49% and a net margin of 8.91%. Korn/Ferry International's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.26 earnings per share. As a group, equities research analysts forecast that Korn/Ferry International will post 4.75 earnings per share for the current year.

Korn/Ferry International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, July 3rd. Korn/Ferry International's dividend payout ratio (DPR) is presently 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.