Sovereign s Capital Management LLC Makes New $1.22 Million Investment in Korn Ferry (NYSE:KFY)

Sovereign s Capital Management LLC purchased a new position in Korn Ferry (NYSE:KFY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 18,103 shares of the business services provider’s stock, valued at approximately $1,221,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC acquired a new position in Korn Ferry in the fourth quarter worth approximately $76,000. Smartleaf Asset Management LLC boosted its stake in Korn Ferry by 230.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,381 shares of the business services provider’s stock worth $93,000 after purchasing an additional 963 shares during the period. Sterling Capital Management LLC boosted its stake in Korn Ferry by 828.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,671 shares of the business services provider’s stock worth $113,000 after purchasing an additional 1,491 shares during the period. Venturi Wealth Management LLC acquired a new position in Korn Ferry in the 4th quarter worth approximately $122,000. Finally, New Age Alpha Advisors LLC acquired a new position in Korn Ferry in the 4th quarter worth approximately $162,000. Institutional investors and hedge funds own 98.82% of the company’s stock.

Analyst Ratings Changes

Separately, Truist Financial decreased their price objective 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 Trading Up 0.4%

Korn Ferry stock opened at $68.52 on Monday. The company has a 50 day moving average price of $64.79 and a 200 day moving average price of $68.38. Korn Ferry has a 52 week low of $59.23 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. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 14.64 and a beta of 1.41.

Korn Ferry (NYSE:KFY) 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. 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 during the quarter, compared to analyst estimates of $650.45 million. During the same quarter last year, the business posted $1.07 EPS. The company’s revenue was down .1% on a year-over-year basis. Research analysts forecast that Korn Ferry will post 4.75 EPS for the current year.

Korn Ferry Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Thursday, March 27th were paid a dividend of $0.48 per share. The ex-dividend date was Thursday, March 27th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.80%. This is a positive change from Korn Ferry’s previous quarterly dividend of $0.37. Korn Ferry’s dividend payout ratio (DPR) is 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.