Korn Ferry (NYSE:KFY) Shares Sold by Summit Global Investments

Summit Global Investments reduced its stake in Korn Ferry (NYSE:KFY) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,670 shares of the business services provider’s stock after selling 1,760 shares during the period. Summit Global Investments’ holdings in Korn Ferry were worth $1,259,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in KFY. Atria Investments Inc increased its holdings in Korn Ferry by 34.4% in the 3rd quarter. Atria Investments Inc now owns 4,097 shares of the business services provider’s stock valued at $308,000 after purchasing an additional 1,049 shares in the last quarter. Empowered Funds LLC acquired a new stake in Korn Ferry in the 3rd quarter valued at $1,214,000. Natixis Advisors LLC increased its holdings in Korn Ferry by 2.3% in the 3rd quarter. Natixis Advisors LLC now owns 43,423 shares of the business services provider’s stock valued at $3,267,000 after purchasing an additional 986 shares in the last quarter. Banque Cantonale Vaudoise increased its holdings in Korn Ferry by 103.8% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,354 shares of the business services provider’s stock valued at $252,000 after purchasing an additional 1,708 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in Korn Ferry by 18.4% in the 3rd quarter. Intech Investment Management LLC now owns 25,894 shares of the business services provider’s stock valued at $1,948,000 after purchasing an additional 4,021 shares in the last quarter. 98.82% of the stock is currently owned by institutional investors and hedge funds.

Korn Ferry Stock Performance

NYSE:KFY opened at $66.37 on Friday. 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 firm has a 50-day moving average of $67.60 and a two-hundred day moving average of $70.50. The stock has a market cap of $3.42 billion, a P/E ratio of 14.18 and a beta of 1.57. Korn Ferry has a 1-year low of $59.78 and a 1-year high of $80.64.

Korn Ferry (NYSE:KFY) last issued its quarterly earnings results on Tuesday, March 11th. The business services provider reported $1.19 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 business had revenue of $676.50 million for the quarter, compared to analysts’ expectations of $650.45 million. During the same quarter last year, the company posted $1.07 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. On average, research analysts expect that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Thursday, March 27th will be given a dividend of $0.48 per share. This is a boost from Korn Ferry’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.92 annualized dividend and a dividend yield of 2.89%. Korn Ferry’s dividend payout ratio (DPR) is presently 41.29%.

Wall Street Analysts Forecast Growth

KFY has been the subject of a number of analyst reports. StockNews.com raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a research report on Tuesday, December 17th. Truist Financial upped their price objective on shares of Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, December 6th.

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.