Point72 Asset Management L.P. Lowers Holdings in Korn Ferry (NYSE:KFY)

Point72 Asset Management L.P. cut its holdings in shares of Korn Ferry (NYSE:KFY - Free Report) by 74.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,139 shares of the business services provider's stock after selling 9,279 shares during the period. Point72 Asset Management L.P.'s holdings in Korn Ferry were worth $212,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in KFY. Wealthfront Advisers LLC purchased a new stake in shares of Korn Ferry during the fourth quarter worth approximately $76,000. Smartleaf Asset Management LLC grew its holdings in Korn Ferry by 230.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,381 shares of the business services provider's stock worth $93,000 after acquiring an additional 963 shares in the last quarter. Sterling Capital Management LLC grew its holdings in Korn Ferry 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. Venturi Wealth Management LLC purchased a new stake in shares of Korn Ferry in the 4th quarter valued at approximately $122,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Korn Ferry in the 4th quarter valued at $162,000. Institutional investors and hedge funds own 98.82% of the company's stock.

Korn Ferry Stock Performance

Shares of Korn Ferry stock traded down $0.06 on Friday, hitting $68.25. The stock had a trading volume of 49,057 shares, compared to its average volume of 374,976. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 14.58 and a beta of 1.41. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22. Korn Ferry has a 52-week low of $59.23 and a 52-week high of $80.64. The company's 50 day moving average price is $64.96 and its 200 day moving average price is $68.00.

Korn Ferry (NYSE:KFY - Get Free Report) last issued its quarterly earnings data on Tuesday, March 11th. The business services provider reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.06. The company had revenue of $676.50 million during the quarter, compared to analysts' expectations of $650.45 million. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The firm's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 earnings per share. On average, research analysts anticipate that Korn Ferry will post 4.75 EPS for the current year.

Korn Ferry Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Thursday, March 27th were paid a dividend of $0.48 per share. This is an increase from Korn Ferry's previous quarterly dividend of $0.37. The ex-dividend date was Thursday, March 27th. This represents a $1.92 annualized dividend and a dividend yield of 2.81%. Korn Ferry's dividend payout ratio is 41.29%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KFY. Wall Street Zen raised Korn Ferry from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Truist Financial dropped their price objective on Korn Ferry from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, UBS Group decreased their target price on Korn Ferry from $75.00 to $74.00 and set a "neutral" rating for the company in a research note on Tuesday.

Korn Ferry 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.