New York Life Investment Management LLC Sells 1,092 Shares of Korn Ferry (NYSE:KFY)

New York Life Investment Management LLC reduced its stake in shares of Korn Ferry (NYSE:KFYFree Report) by 13.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,882 shares of the business services provider’s stock after selling 1,092 shares during the period. New York Life Investment Management LLC’s holdings in Korn Ferry were worth $326,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its position in shares of Korn Ferry by 11.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 13,552 shares of the business services provider’s stock valued at $671,000 after buying an additional 1,354 shares in the last quarter. AlphaMark Advisors LLC bought a new stake in Korn Ferry during the 3rd quarter valued at approximately $242,000. Assenagon Asset Management S.A. raised its stake in Korn Ferry by 525.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 224,741 shares of the business services provider’s stock valued at $10,662,000 after purchasing an additional 188,817 shares during the period. ProShare Advisors LLC raised its stake in Korn Ferry by 7.3% during the 2nd quarter. ProShare Advisors LLC now owns 8,158 shares of the business services provider’s stock valued at $404,000 after purchasing an additional 553 shares during the period. Finally, Geode Capital Management LLC raised its stake in Korn Ferry by 5.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,029,270 shares of the business services provider’s stock valued at $50,990,000 after purchasing an additional 49,320 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on KFY shares. UBS Group lifted their target price on Korn Ferry from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, December 7th. StockNews.com downgraded Korn Ferry from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Finally, Truist Financial reduced their price objective on Korn Ferry from $64.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, December 7th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Read Our Latest Analysis on Korn Ferry

Korn Ferry Stock Performance

NYSE:KFY opened at $60.88 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86. Korn Ferry has a 1 year low of $44.45 and a 1 year high of $61.09. The stock’s 50 day simple moving average is $57.41 and its two-hundred day simple moving average is $52.32. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 30.90 and a beta of 1.47.

Korn Ferry (NYSE:KFYGet Free Report) last released its earnings results on Wednesday, December 6th. The business services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.02. The firm had revenue of $712.40 million for the quarter, compared to the consensus estimate of $687.29 million. Korn Ferry had a return on equity of 12.60% and a net margin of 3.64%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.43 EPS. As a group, equities analysts anticipate that Korn Ferry will post 3.92 earnings per share for the current fiscal year.

Korn Ferry Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Thursday, December 21st were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, December 20th. This represents a $1.32 annualized dividend and a dividend yield of 2.17%. This is an increase from Korn Ferry’s previous quarterly dividend of $0.18. Korn Ferry’s payout ratio is currently 67.01%.

Korn Ferry Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Korn Ferry (NYSE:KFY)

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