Gotham Asset Management LLC Reduces Stake in Korn Ferry (NYSE:KFY)

Gotham Asset Management LLC reduced its stake in Korn Ferry (NYSE:KFY) by 38.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,251 shares of the business services provider’s stock after selling 8,907 shares during the quarter. Gotham Asset Management LLC’s holdings in Korn Ferry were worth $961,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in KFY. Wellington Management Group LLP purchased a new stake in Korn Ferry in the 4th quarter valued at $51,454,000. Norges Bank purchased a new stake in Korn Ferry in the 4th quarter valued at $42,360,000. Rockefeller Capital Management L.P. grew its holdings in Korn Ferry by 113.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 826,157 shares of the business services provider’s stock valued at $55,724,000 after buying an additional 438,644 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Korn Ferry by 19.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,133,548 shares of the business services provider’s stock valued at $76,458,000 after buying an additional 184,170 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Korn Ferry during the 4th quarter worth $10,727,000. 98.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Korn Ferry Stock Performance

NYSE KFY opened at $68.52 on Friday. 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. The stock has a fifty day simple moving average of $64.79 and a 200-day simple moving average of $68.39.

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, topping analysts’ consensus estimates of $1.13 by $0.06. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. 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 prior year, the business posted $1.07 EPS. The company’s revenue was down .1% compared to the same quarter last year. Equities analysts anticipate 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 represents a $1.92 dividend on an annualized basis and a yield of 2.80%. This is a boost from Korn Ferry’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Thursday, March 27th. 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.