Kornitzer Capital Management Inc. KS lowered its holdings in shares of Korn Ferry (NYSE:KFY) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 126,340 shares of the business services provider’s stock after selling 2,800 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.23% of Korn Ferry worth $4,882,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Neo Ivy Capital Management acquired a new stake in Korn Ferry in the second quarter valued at approximately $1,437,000. State of Alaska Department of Revenue grew its stake in Korn Ferry by 123.9% in the third quarter. State of Alaska Department of Revenue now owns 43,004 shares of the business services provider’s stock valued at $1,661,000 after acquiring an additional 23,798 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in Korn Ferry in the third quarter valued at approximately $2,546,000. Alberta Investment Management Corp grew its stake in Korn Ferry by 58.4% in the third quarter. Alberta Investment Management Corp now owns 66,237 shares of the business services provider’s stock valued at $2,559,000 after acquiring an additional 24,426 shares during the period. Finally, Moody Aldrich Partners LLC grew its stake in Korn Ferry by 2.7% in the second quarter. Moody Aldrich Partners LLC now owns 108,335 shares of the business services provider’s stock valued at $4,341,000 after acquiring an additional 2,891 shares during the period. 91.03% of the stock is owned by institutional investors and hedge funds.
KFY has been the subject of a number of research reports. Zacks Investment Research raised Korn Ferry from a “sell” rating to a “hold” rating in a research note on Thursday. Sidoti reduced their price objective on Korn Ferry from $72.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Robert W. Baird set a $42.00 price objective on Korn Ferry and gave the company a “hold” rating in a research note on Friday, September 6th. Credit Suisse Group cut their target price on Korn Ferry from $40.00 to $37.00 and set an “underperform” rating on the stock in a research report on Friday, September 6th. Finally, ValuEngine cut Korn Ferry from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $50.00.
Shares of NYSE:KFY traded up $0.06 during mid-day trading on Friday, hitting $39.05. 249,131 shares of the company traded hands, compared to its average volume of 368,220. The stock has a market cap of $2.19 billion, a P/E ratio of 11.80 and a beta of 1.08. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.34. Korn Ferry has a 12-month low of $34.35 and a 12-month high of $49.54. The stock has a 50-day moving average price of $37.08 and a two-hundred day moving average price of $40.48.
Korn Ferry (NYSE:KFY) last announced its earnings results on Thursday, September 5th. The business services provider reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.01). The company had revenue of $484.50 million for the quarter, compared to analysts’ expectations of $475.35 million. Korn Ferry had a net margin of 9.25% and a return on equity of 15.26%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. As a group, analysts expect that Korn Ferry will post 3.25 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.40 dividend on an annualized basis and a yield of 1.02%. Korn Ferry’s dividend payout ratio (DPR) is currently 12.08%.
About Korn Ferry
Korn Ferry, together with its subsidiaries, provides talent management solutions worldwide. It operates through three segments: Executive Search, Hay Group, and Futurestep. The company provides executive search services to fill executive-level positions, such as board directors, chief executive officers, chief financial officers, chief operating officers, chief information officers, chief human resource officers, and other senior executive officers for clients in the consumer, financial services, industrial, life sciences/healthcare provider, technology, and educational/not-for-profit market sectors.
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