Geode Capital Management LLC Trims Stake in Korn Ferry (NYSE:KFY)

Geode Capital Management LLC lessened its stake in Korn Ferry (NYSE:KFY - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,203,566 shares of the business services provider's stock after selling 13,465 shares during the quarter. Geode Capital Management LLC owned approximately 2.33% of Korn Ferry worth $81,198,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Wealthfront Advisers LLC acquired a new position in shares of Korn Ferry in the fourth quarter valued at $76,000. Smartleaf Asset Management LLC raised its holdings in Korn Ferry by 230.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,381 shares of the business services provider's stock valued at $93,000 after acquiring an additional 963 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of Korn Ferry during the fourth quarter worth approximately $122,000. New Age Alpha Advisors LLC acquired a new position in shares of Korn Ferry in the fourth quarter valued at approximately $162,000. Finally, KBC Group NV boosted its stake in Korn Ferry by 68.5% in the 4th quarter. KBC Group NV now owns 2,542 shares of the business services provider's stock valued at $171,000 after purchasing an additional 1,033 shares during the period. 98.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KFY. Truist Financial reduced their target price on shares of Korn Ferry from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Tuesday. StockNews.com raised shares of Korn Ferry from a "hold" rating to a "buy" rating in a report on Tuesday, December 17th.

Korn Ferry Stock Down 0.1 %

Shares of KFY traded down $0.05 during trading hours on Wednesday, reaching $62.28. 24,847 shares of the stock traded hands, compared to its average volume of 374,181. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 13.29 and a beta of 1.40. The stock has a fifty day simple moving average of $65.68 and a 200 day simple moving average of $69.63. 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 $59.44 and a 52 week high of $80.64.

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

Korn Ferry Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Thursday, March 27th were given a $0.48 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.92 annualized dividend and a dividend yield of 3.08%. This is a positive change from Korn Ferry's previous quarterly dividend of $0.37. Korn Ferry's payout ratio is 41.29%.

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.