Vestcor Inc Boosts Position in Korn Ferry (NYSE:KFY)

Vestcor Inc boosted its holdings in shares of Korn Ferry (NYSE:KFY - Free Report) by 34.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,869 shares of the business services provider's stock after buying an additional 6,382 shares during the quarter. Vestcor Inc's holdings in Korn Ferry were worth $1,677,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Arizona State Retirement System raised its position in Korn Ferry by 1.2% during the 4th quarter. Arizona State Retirement System now owns 15,094 shares of the business services provider's stock worth $1,018,000 after buying an additional 176 shares during the last quarter. Savant Capital LLC grew its stake in shares of Korn Ferry by 7.4% during the 4th quarter. Savant Capital LLC now owns 3,629 shares of the business services provider's stock worth $245,000 after purchasing an additional 249 shares during the period. Heritage Family Offices LLP grew its stake in shares of Korn Ferry by 7.2% during the 4th quarter. Heritage Family Offices LLP now owns 3,860 shares of the business services provider's stock worth $260,000 after purchasing an additional 259 shares during the period. State of New Jersey Common Pension Fund D grew its stake in shares of Korn Ferry by 1.3% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 27,778 shares of the business services provider's stock worth $1,874,000 after purchasing an additional 343 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Korn Ferry by 3.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,443 shares of the business services provider's stock worth $861,000 after purchasing an additional 433 shares during the period. 98.82% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Korn Ferry Price Performance

Korn Ferry stock traded up $0.52 during trading on Wednesday, reaching $67.92. The company had a trading volume of 487,994 shares, compared to its average volume of 333,302. The firm's 50-day simple moving average is $67.53 and its 200 day simple moving average is $70.60. Korn Ferry has a 1-year low of $59.78 and a 1-year high of $80.64. The firm has a market capitalization of $3.50 billion, a PE ratio of 14.51 and a beta of 1.57. 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 released its quarterly earnings results on Tuesday, March 11th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, beating 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 firm 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 earned $1.07 EPS. The firm's revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities research analysts anticipate that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.92 dividend on an annualized basis and a yield of 2.83%. This is a positive change from Korn Ferry's previous quarterly dividend of $0.37. Korn Ferry's dividend payout ratio (DPR) is presently 41.29%.

Analysts Set New Price Targets

A number of brokerages have recently commented on KFY. StockNews.com raised shares of Korn Ferry from a "hold" rating to a "buy" rating in a research note on Tuesday, December 17th. Truist Financial raised their price objective on shares of Korn Ferry from $78.00 to $84.00 and gave the stock a "buy" rating in a research note 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.