State of Tennessee Department of Treasury Has $1.50 Million Stock Position in Korn Ferry (NYSE:KFY)

State of Tennessee Department of Treasury trimmed its stake in Korn Ferry (NYSE:KFY) by 11.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,301 shares of the business services provider’s stock after selling 2,808 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Korn Ferry were worth $1,504,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in KFY. MetLife Investment Management LLC lifted its holdings in shares of Korn Ferry by 4.5% in the fourth quarter. MetLife Investment Management LLC now owns 31,312 shares of the business services provider’s stock valued at $2,112,000 after purchasing an additional 1,345 shares in the last quarter. Mesirow Institutional Investment Management Inc. boosted its position in Korn Ferry by 9.0% during the fourth quarter. Mesirow Institutional Investment Management Inc. now owns 198,383 shares of the business services provider’s stock worth $13,381,000 after purchasing an additional 16,357 shares during the period. Marshall Wace LLP purchased a new position in Korn Ferry in the 4th quarter valued at approximately $278,000. Bridgewater Associates LP lifted its holdings in Korn Ferry by 4.8% during the 4th quarter. Bridgewater Associates LP now owns 24,777 shares of the business services provider’s stock worth $1,671,000 after purchasing an additional 1,128 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its stake in Korn Ferry by 4.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,432 shares of the business services provider’s stock valued at $366,000 after acquiring an additional 225 shares in the last quarter. Institutional investors and hedge funds own 98.82% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Truist Financial cut their price target on shares of Korn Ferry from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th.

Korn Ferry Price Performance

Shares of KFY stock opened at $61.72 on Wednesday. Korn Ferry has a twelve month low of $59.23 and a twelve month high of $80.64. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 13.19 and a beta of 1.40. The business’s fifty day moving average is $64.57 and its 200 day moving average is $68.85.

Korn Ferry (NYSE:KFY) 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. Research analysts expect 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 was paid on Tuesday, April 15th. Shareholders of record on Thursday, March 27th were issued a $0.48 dividend. This is a positive change from Korn Ferry’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, March 27th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.11%. 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.