Vestcor Inc Sells 21,605 Shares of Korn/Ferry International (NYSE:KFY)

Key Points

• Vestcor Inc significantly reduced its stake in Korn/Ferry International by 86.9%, now holding 3,264 shares worth approximately $221,000.
• Korn/Ferry's stock price increased by 1.2%, reaching $70.45, while the company reported an earnings per share of $1.32, exceeding analyst expectations.
• The company declared a quarterly dividend of $0.48, reflecting an annualized dividend yield of 2.7% and a payout ratio of 41.56%.

Vestcor Inc lowered its position in shares of Korn/Ferry International (NYSE:KFY - Free Report) by 86.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,264 shares of the business services provider's stock after selling 21,605 shares during the period. Vestcor Inc's holdings in Korn/Ferry International were worth $221,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Invesco Ltd. lifted its position in shares of Korn/Ferry International by 5.6% in the 4th quarter. Invesco Ltd. now owns 1,840,784 shares of the business services provider's stock worth $124,161,000 after purchasing an additional 97,811 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Korn/Ferry International by 4.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,388,500 shares of the business services provider's stock worth $95,001,000 after acquiring an additional 62,779 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Korn/Ferry International by 3.6% in the 1st quarter. Victory Capital Management Inc. now owns 920,758 shares of the business services provider's stock worth $62,455,000 after acquiring an additional 31,982 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Korn/Ferry International by 113.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 826,157 shares of the business services provider's stock worth $55,724,000 after acquiring an additional 438,644 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Korn/Ferry International in the 4th quarter worth about $51,454,000. 98.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. UBS Group decreased their price target on shares of Korn/Ferry International from $75.00 to $74.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Wall Street Zen lowered shares of Korn/Ferry International from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, July 9th. Finally, Truist Financial lifted their target price on shares of Korn/Ferry International from $80.00 to $88.00 and gave the stock a "buy" rating in a report on Friday, June 20th.

Korn/Ferry International Stock Performance

NYSE KFY traded up $0.52 during trading hours on Friday, hitting $71.02. 64,719 shares of the company's stock traded hands, compared to its average volume of 428,337. The business's fifty day moving average price is $71.73 and its two-hundred day moving average price is $68.05. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $3.66 billion, a P/E ratio of 15.37 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 quarterly 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. Korn/Ferry International had a net margin of 8.91% and a return on equity of 14.49%. The business had revenue of $712.05 million during the quarter, compared to analyst estimates of $690.07 million. During the same period in the prior year, the business posted $1.26 earnings per share. The company's revenue was up 3.1% on a year-over-year basis. Equities research analysts predict that Korn/Ferry International will post 4.75 EPS for the current year.

Korn/Ferry International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, July 3rd. Korn/Ferry International's dividend payout ratio (DPR) is currently 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.