Norges Bank Makes New Investment in Korn Ferry (NYSE:KFY)

Norges Bank purchased a new stake in shares of Korn Ferry (NYSE:KFY) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 628,026 shares of the business services provider’s stock, valued at approximately $42,360,000.

A number of other hedge funds have also recently modified their holdings of KFY. Loomis Sayles & Co. L P boosted its holdings in Korn Ferry by 2.0% in the 4th quarter. Loomis Sayles & Co. L P now owns 415,488 shares of the business services provider’s stock valued at $28,024,000 after purchasing an additional 8,058 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Korn Ferry by 11.3% in the fourth quarter. JPMorgan Chase & Co. now owns 474,042 shares of the business services provider’s stock valued at $31,974,000 after acquiring an additional 48,074 shares during the last quarter. LPL Financial LLC grew its position in Korn Ferry by 13.4% in the fourth quarter. LPL Financial LLC now owns 26,797 shares of the business services provider’s stock worth $1,807,000 after acquiring an additional 3,167 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Korn Ferry during the fourth quarter worth $949,000. Finally, Sei Investments Co. raised its position in Korn Ferry by 8.5% in the fourth quarter. Sei Investments Co. now owns 181,214 shares of the business services provider’s stock valued at $12,223,000 after purchasing an additional 14,157 shares during the period. Hedge funds and other institutional investors own 98.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on KFY shares. Truist Financial raised their price objective on Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. StockNews.com upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating in a research report on Tuesday, December 17th.

Korn Ferry Price Performance

KFY stock opened at $62.41 on Friday. The business’s fifty day moving average price is $67.08 and its 200 day moving average price is $70.33. Korn Ferry has a 12-month low of $59.78 and a 12-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 company has a market capitalization of $3.22 billion, a PE ratio of 13.33 and a beta of 1.40.

Korn Ferry (NYSE:KFY) 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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $650.45 million. During the same period in the prior year, the firm earned $1.07 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. On average, sell-side analysts anticipate 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 will be paid on Tuesday, April 15th. Shareholders of record on Thursday, March 27th will be paid a $0.48 dividend. This is an increase from Korn Ferry’s previous quarterly dividend of $0.37. The ex-dividend date is Thursday, March 27th. This represents a $1.92 annualized dividend and a dividend yield of 3.08%. 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.