KBC Group NV Raises Stock Holdings in Korn Ferry (NYSE:KFY)

KBC Group NV grew its holdings in shares of Korn Ferry (NYSE:KFY) by 68.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,542 shares of the business services provider’s stock after purchasing an additional 1,033 shares during the quarter. KBC Group NV’s holdings in Korn Ferry were worth $171,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp grew its holdings in Korn Ferry by 2.0% during the third quarter. State Street Corp now owns 2,069,906 shares of the business services provider’s stock valued at $156,503,000 after purchasing an additional 40,240 shares during the period. Pacer Advisors Inc. bought a new position in shares of Korn Ferry during the 3rd quarter worth $103,546,000. Geode Capital Management LLC increased its holdings in Korn Ferry by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,217,031 shares of the business services provider’s stock worth $91,587,000 after acquiring an additional 28,014 shares during the last quarter. Jennison Associates LLC raised its stake in Korn Ferry by 13.2% in the 3rd quarter. Jennison Associates LLC now owns 988,005 shares of the business services provider’s stock valued at $74,337,000 after acquiring an additional 115,523 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in Korn Ferry by 7.0% during the third quarter. Thrivent Financial for Lutherans now owns 949,378 shares of the business services provider’s stock valued at $71,431,000 after purchasing an additional 62,385 shares during the last quarter. 98.82% of the stock is currently owned by institutional investors.

Korn Ferry Stock Down 0.2 %

Shares of NYSE KFY opened at $69.65 on Thursday. 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 business has a 50-day moving average of $70.02 and a 200-day moving average of $71.45. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 14.88 and a beta of 1.57. Korn Ferry has a 12 month low of $57.80 and a 12 month high of $80.64.

Korn Ferry (NYSE:KFY) last released its quarterly earnings results on Thursday, December 5th. The business services provider reported $1.21 EPS for the quarter, hitting analysts’ consensus estimates of $1.21. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The business had revenue of $682.00 million during the quarter, compared to analysts’ expectations of $675.35 million. During the same quarter in the previous year, the company earned $0.97 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. Sell-side analysts expect that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, December 20th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.13%. Korn Ferry’s dividend payout ratio is 31.62%.

Insiders Place Their Bets

In other news, CEO Mark Arian sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $72.24, for a total transaction of $1,444,800.00. Following the transaction, the chief executive officer now directly owns 68,869 shares of the company’s stock, valued at approximately $4,975,096.56. This trade represents a 22.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on KFY. StockNews.com raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a report on Tuesday, December 17th. Truist Financial increased their price objective on Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, December 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.00.

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.