KT Corporation $KT Stake Reduced by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has reduced its stake in KT Corporation by 7.0%, selling 19,497 shares, and now owning approximately 0.05% of the company valued at $4.6 million.
• Several institutional investors, including Park Place Capital Corp, Farther Finance Advisors LLC, and Caitong International Asset Management Co. Ltd, have significantly increased their holdings in KT Corporation in the first quarter of the year.
• KT Corporation's stock has received upgrades from analysts, changing its rating from "hold" to "strong-buy", with a current consensus rating of "strong-buy."

Raymond James Financial Inc. lessened its stake in KT Corporation (NYSE:KT - Free Report) by 7.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 259,673 shares of the technology company's stock after selling 19,497 shares during the quarter. Raymond James Financial Inc. owned about 0.05% of KT worth $4,599,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in KT. Boston Partners raised its position in shares of KT by 193.2% in the 1st quarter. Boston Partners now owns 3,658,852 shares of the technology company's stock valued at $64,806,000 after purchasing an additional 2,410,971 shares in the last quarter. Ninety One UK Ltd raised its position in shares of KT by 28.3% in the 1st quarter. Ninety One UK Ltd now owns 4,890,767 shares of the technology company's stock valued at $86,615,000 after purchasing an additional 1,079,860 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of KT by 18.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 5,547,691 shares of the technology company's stock valued at $98,250,000 after purchasing an additional 875,840 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of KT in the 4th quarter valued at approximately $6,624,000. Finally, Northern Trust Corp raised its position in shares of KT by 701.2% in the 4th quarter. Northern Trust Corp now owns 412,235 shares of the technology company's stock valued at $6,398,000 after purchasing an additional 360,784 shares in the last quarter. 18.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KT. Zacks Research raised KT from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 27th. Wall Street Zen raised KT from a "buy" rating to a "strong-buy" rating in a research report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to data from MarketBeat, KT presently has an average rating of "Buy".

KT Stock Performance

Shares of KT stock traded up $0.30 on Thursday, hitting $20.04. 1,351,974 shares of the stock traded hands, compared to its average volume of 1,552,720. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.19 and a quick ratio of 1.04. The company has a market capitalization of $10.34 billion, a PE ratio of 14.84, a PEG ratio of 0.14 and a beta of 0.72. KT Corporation has a 1-year low of $14.77 and a 1-year high of $21.61. The company's fifty day moving average is $20.53 and its 200 day moving average is $19.35.

KT (NYSE:KT - Get Free Report) last posted its quarterly earnings results on Friday, September 5th. The technology company reported $1.01 earnings per share (EPS) for the quarter. The business had revenue of $5.31 billion for the quarter. KT had a return on equity of 5.06% and a net margin of 3.35%. On average, equities research analysts predict that KT Corporation will post 0.73 earnings per share for the current fiscal year.

KT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Wednesday, July 30th were given a dividend of $0.2164 per share. This represents a $0.87 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Wednesday, July 30th. KT's dividend payout ratio is currently 51.85%.

KT Profile

KT Corporation provides integrated telecommunications and platform services in Korea and internationally. The company offers mobile voice and data telecommunications services based on 5G, 4G LTE and 3G W-CDMA technology; fixed-line telephone services, including local, domestic long-distance, international long-distance, and voice over Internet protocol telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services; and data communication services, such as fixed-line and leased line services, as well as broadband Internet connection services.