Wells Fargo & Company MN Boosts Stake in Korn Ferry (NYSE:KFY)

Wells Fargo & Company MN increased its position in Korn Ferry (NYSE:KFY - Free Report) by 14.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,330 shares of the business services provider's stock after acquiring an additional 8,692 shares during the period. Wells Fargo & Company MN owned approximately 0.14% of Korn Ferry worth $4,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Korn Ferry Price Performance

Shares of NYSE:KFY traded down $0.89 during midday trading on Friday, reaching $61.38. 78,718 shares of the company's stock traded hands, compared to its average volume of 376,894. The company has a market cap of $3.17 billion, a P/E ratio of 13.12 and a beta of 1.40. The company has a fifty day simple moving average of $64.85 and a two-hundred day simple moving average of $69.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 2.07. Korn Ferry has a 1 year low of $59.23 and a 1 year high of $80.64.

Korn Ferry (NYSE:KFY - Get Free Report) last announced its earnings results on Tuesday, March 11th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, beating 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 business had revenue of $676.50 million for the quarter, compared to analyst estimates of $650.45 million. During the same quarter last year, the business earned $1.07 earnings per share. The company's revenue for the quarter was down .1% compared to the same quarter last year. Equities analysts predict that Korn Ferry will post 4.75 EPS for the current fiscal year.

Korn Ferry Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.13%. This is a boost from Korn Ferry's previous quarterly dividend of $0.37. Korn Ferry's dividend payout ratio is presently 41.29%.

Wall Street Analysts Forecast Growth

Separately, Truist Financial decreased their price objective 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, April 15th.

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.