Edgestream Partners L.P. Sells 48,165 Shares of Korn Ferry (NYSE:KFY)

Edgestream Partners L.P. lowered its stake in shares of Korn Ferry (NYSE:KFY - Free Report) by 55.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,963 shares of the business services provider's stock after selling 48,165 shares during the quarter. Edgestream Partners L.P. owned approximately 0.07% of Korn Ferry worth $2,561,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. purchased a new stake in shares of Korn Ferry during the 3rd quarter worth approximately $103,546,000. JPMorgan Chase & Co. increased its position in Korn Ferry by 193.9% in the third quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider's stock worth $32,050,000 after buying an additional 281,024 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Korn Ferry in the fourth quarter valued at $10,727,000. Barclays PLC lifted its position in shares of Korn Ferry by 129.0% during the 3rd quarter. Barclays PLC now owns 239,937 shares of the business services provider's stock valued at $18,053,000 after buying an additional 135,148 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Korn Ferry by 13.2% during the 3rd quarter. Jennison Associates LLC now owns 988,005 shares of the business services provider's stock worth $74,337,000 after acquiring an additional 115,523 shares during the period. Institutional investors own 98.82% of the company's stock.

Korn Ferry Price Performance

NYSE KFY traded up $0.04 during trading hours on Thursday, hitting $66.51. The company had a trading volume of 544,124 shares, compared to its average volume of 364,535. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 14.21 and a beta of 1.57. Korn Ferry has a 52 week low of $59.78 and a 52 week high of $80.64. The firm has a 50 day simple moving average of $67.52 and a 200 day simple moving average of $70.75.

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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 analysts' consensus estimates of $1.13 by $0.06. The company had revenue of $676.50 million during the quarter, compared to analyst estimates of $650.45 million. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. Korn Ferry's revenue was down .1% compared to the same quarter last year. During the same period last year, the business earned $1.07 earnings per share. Equities research analysts expect that Korn Ferry will post 4.75 earnings per share for the current year.

Korn Ferry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Thursday, March 27th will be issued a $0.48 dividend. 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%. This is a boost from Korn Ferry's previous quarterly dividend of $0.37. Korn Ferry's dividend payout ratio is presently 31.62%.

Wall Street Analyst Weigh In

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

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.