Pictet Asset Management Holding SA Sells 25,372 Shares of Korn Ferry (NYSE:KFY)

Pictet Asset Management Holding SA lessened its holdings in Korn Ferry (NYSE:KFY - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 335,025 shares of the business services provider's stock after selling 25,372 shares during the period. Pictet Asset Management Holding SA owned 0.65% of Korn Ferry worth $22,597,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in KFY. Citigroup Inc. raised its position in shares of Korn Ferry by 88.1% in the third quarter. Citigroup Inc. now owns 69,185 shares of the business services provider's stock valued at $5,205,000 after purchasing an additional 32,403 shares during the period. The Manufacturers Life Insurance Company grew its stake in Korn Ferry by 4.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,903 shares of the business services provider's stock valued at $2,250,000 after buying an additional 1,183 shares during the last quarter. FMR LLC raised its holdings in Korn Ferry by 59.3% in the 3rd quarter. FMR LLC now owns 4,608 shares of the business services provider's stock valued at $347,000 after acquiring an additional 1,716 shares during the period. Glenmede Trust Co. NA acquired a new stake in Korn Ferry during the third quarter worth approximately $203,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Korn Ferry by 3.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,443 shares of the business services provider's stock worth $861,000 after acquiring an additional 433 shares during the period. Institutional investors and hedge funds own 98.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on KFY shares. StockNews.com upgraded Korn Ferry from a "hold" rating to a "buy" rating in a research note 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 research report on Friday, December 6th.

Korn Ferry Stock Performance

Shares of NYSE:KFY traded down $1.88 on Friday, reaching $62.41. 585,955 shares of the company's stock were exchanged, compared to its average volume of 368,609. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22. Korn Ferry has a twelve month low of $59.78 and a twelve month high of $80.64. The company has a fifty day moving average of $67.08 and a 200-day moving average of $70.31. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 13.33 and a beta of 1.40.

Korn Ferry (NYSE:KFY - Get Free Report) last posted its quarterly earnings data on Tuesday, March 11th. The business services provider reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.06. The firm had revenue of $676.50 million for the quarter, compared to analyst estimates of $650.45 million. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The company's revenue was down .1% on a year-over-year basis. During the same quarter last year, the company earned $1.07 EPS. On average, research analysts predict that Korn Ferry will post 4.75 EPS for the current fiscal year.

Korn Ferry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Thursday, March 27th will be given a dividend of $0.48 per share. This is a positive change 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 dividend payout ratio (DPR) is currently 41.29%.

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.