Renaissance Technologies LLC Cuts Holdings in Korn Ferry (NYSE:KFY)

Renaissance Technologies LLC decreased its stake in Korn Ferry (NYSE:KFY - Free Report) by 83.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,300 shares of the business services provider's stock after selling 21,200 shares during the period. Renaissance Technologies LLC's holdings in Korn Ferry were worth $290,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of Korn Ferry by 193.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider's stock valued at $32,050,000 after purchasing an additional 281,024 shares during the period. Principal Financial Group Inc. lifted its stake in Korn Ferry by 5.7% in the third quarter. Principal Financial Group Inc. now owns 271,969 shares of the business services provider's stock valued at $20,463,000 after buying an additional 14,601 shares during the period. Blue Trust Inc. lifted its stake in Korn Ferry by 44.8% in the fourth quarter. Blue Trust Inc. now owns 3,204 shares of the business services provider's stock valued at $216,000 after buying an additional 991 shares during the period. Allianz Asset Management GmbH grew its position in shares of Korn Ferry by 14.2% during the 4th quarter. Allianz Asset Management GmbH now owns 753,414 shares of the business services provider's stock worth $50,818,000 after buying an additional 93,591 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Korn Ferry by 202.4% during the 4th quarter. SG Americas Securities LLC now owns 9,552 shares of the business services provider's stock worth $644,000 after buying an additional 6,393 shares during the period. 98.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Korn Ferry Stock Down 0.8%

KFY stock traded down $0.52 during trading on Friday, reaching $66.07. 204,145 shares of the stock were exchanged, compared to its average volume of 376,683. The firm's 50 day moving average is $64.49 and its 200 day moving average is $68.45. Korn Ferry has a twelve month low of $59.23 and a twelve month high of $80.64. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22. The firm has a market cap of $3.41 billion, a P/E ratio of 14.12 and a beta of 1.41.

Korn Ferry (NYSE:KFY - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The business services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.13 by $0.06. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The firm had revenue of $676.50 million during the quarter, compared to the consensus estimate of $650.45 million. During the same quarter in the previous year, the company posted $1.07 earnings per share. The company's quarterly revenue was down .1% on a year-over-year basis. As a group, research analysts forecast 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. Investors of record on Thursday, March 27th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Thursday, March 27th. This is a positive change from Korn Ferry's previous quarterly dividend of $0.37. Korn Ferry's dividend payout ratio is currently 41.29%.

Korn Ferry Company 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.