Freestone Grove Partners LP Takes $457,000 Position in Korn Ferry (NYSE:KFY)

Freestone Grove Partners LP purchased a new position in Korn Ferry (NYSE:KFY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,776 shares of the business services provider's stock, valued at approximately $457,000.

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC boosted its stake in Korn Ferry by 129.0% in the 3rd quarter. Barclays PLC now owns 239,937 shares of the business services provider's stock worth $18,053,000 after purchasing an additional 135,148 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Korn Ferry by 7.1% in the 3rd quarter. Franklin Resources Inc. now owns 25,133 shares of the business services provider's stock worth $1,824,000 after purchasing an additional 1,663 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Korn Ferry by 5.7% in the 3rd quarter. Principal Financial Group Inc. now owns 271,969 shares of the business services provider's stock worth $20,463,000 after purchasing an additional 14,601 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Korn Ferry by 193.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider's stock worth $32,050,000 after buying an additional 281,024 shares in the last quarter. Finally, Heritage Family Offices LLP increased its holdings in Korn Ferry by 7.2% in the 4th quarter. Heritage Family Offices LLP now owns 3,860 shares of the business services provider's stock worth $260,000 after buying an additional 259 shares in the last quarter. 98.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Truist Financial dropped their target price on shares of Korn Ferry from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th.

Korn Ferry Stock Performance

Shares of KFY traded down $0.58 on Friday, reaching $66.01. The company's stock had a trading volume of 68,962 shares, compared to its average volume of 376,347. The stock's 50 day simple moving average is $64.45 and its two-hundred day simple moving average is $68.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market capitalization of $3.40 billion, a P/E ratio of 14.10 and a beta of 1.41. Korn Ferry has a 12-month low of $59.23 and a 12-month high of $80.64.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.06. The firm had revenue of $676.50 million during the quarter, compared to the consensus estimate of $650.45 million. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The company's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 EPS. Research analysts forecast that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Thursday, March 27th were issued a dividend of $0.48 per share. This is a positive change from Korn Ferry's previous quarterly dividend of $0.37. This represents a $1.92 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Thursday, March 27th. Korn Ferry's dividend payout ratio (DPR) is 41.29%.

About Korn Ferry

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.