Sovereign s Capital Management LLC Takes Position in Korn Ferry (NYSE:KFY)

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

Several other large investors also recently modified their holdings of KFY. Wealthfront Advisers LLC bought a new position in shares of Korn Ferry during the fourth quarter worth about $76,000. Smartleaf Asset Management LLC lifted its position in shares of Korn Ferry by 230.4% during the fourth 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 last quarter. Sterling Capital Management LLC lifted its position in shares of Korn Ferry by 828.3% during the fourth 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 last quarter. Venturi Wealth Management LLC bought a new position in shares of Korn Ferry during the fourth quarter worth about $122,000. Finally, New Age Alpha Advisors LLC bought a new position in Korn Ferry in the fourth quarter worth about $162,000. 98.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Korn Ferry Stock Performance

KFY opened at $68.52 on Monday. The business’s 50 day moving average is $64.79 and its 200-day moving average is $68.38. The stock has a market cap of $3.53 billion, a PE ratio of 14.64 and a beta of 1.41. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22. Korn Ferry has a twelve month low of $59.23 and a twelve month high of $80.64.

Korn Ferry (NYSE:KFY) last released its quarterly earnings results on Tuesday, March 11th. The business services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.06. The company had revenue of $676.50 million for the quarter, compared to analysts’ expectations of $650.45 million. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. On average, analysts predict that Korn Ferry will post 4.75 earnings per share for the current year.

Korn Ferry Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Thursday, March 27th were issued a dividend of $0.48 per share. This is a boost from Korn Ferry’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, March 27th. This represents a $1.92 annualized dividend and a yield of 2.80%. Korn Ferry’s payout ratio 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.