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

Norges Bank purchased a new position in Korn Ferry (NYSE:KFY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 628,026 shares of the business services provider's stock, valued at approximately $42,360,000. Norges Bank owned about 1.22% of Korn Ferry as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Wealthfront Advisers LLC purchased a new stake in Korn Ferry in the 4th quarter worth approximately $76,000. Smartleaf Asset Management LLC lifted its stake in Korn Ferry by 230.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,381 shares of the business services provider's stock worth $93,000 after acquiring an additional 963 shares during the period. Venturi Wealth Management LLC bought a new stake in Korn Ferry in the fourth quarter valued at $122,000. KBC Group NV lifted its position in shares of Korn Ferry by 68.5% in the 4th quarter. KBC Group NV now owns 2,542 shares of the business services provider's stock worth $171,000 after purchasing an additional 1,033 shares during the period. Finally, Glenmede Trust Co. NA bought a new stake in shares of Korn Ferry during the 3rd quarter valued at about $203,000. Hedge funds and other institutional investors own 98.82% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Korn Ferry from a "hold" rating to a "buy" rating in a report on Tuesday, December 17th.

Korn Ferry Stock Up 6.6 %

Shares of KFY traded up $4.00 during trading hours on Wednesday, hitting $64.29. The company had a trading volume of 627,854 shares, compared to its average volume of 374,793. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 13.74 and a beta of 1.40. The firm has a fifty day moving average price of $66.16 and a 200-day moving average price of $69.90. Korn Ferry has a 52-week low of $59.44 and a 52-week high of $80.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 2.07.

Korn Ferry (NYSE:KFY - Get Free Report) last issued its earnings results on Tuesday, March 11th. The business services provider reported $1.19 earnings per share (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 during the quarter, compared to analysts' expectations of $650.45 million. During the same period in the previous year, the company 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, equities research analysts forecast that Korn Ferry will post 4.75 EPS for the current fiscal year.

Korn Ferry Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Thursday, March 27th will be issued a $0.48 dividend. 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 dividend on an annualized basis and a dividend yield of 2.99%. Korn Ferry's dividend payout ratio (DPR) is presently 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.