Raymond James Financial Inc. Invests $10.73 Million in Korn Ferry (NYSE:KFY)

Raymond James Financial Inc. bought a new stake in Korn Ferry (NYSE:KFY) in the fourth quarter, HoldingsChannel reports. The fund bought 159,032 shares of the business services provider’s stock, valued at approximately $10,727,000.

A number of other hedge funds have also recently added to or reduced their stakes in KFY. Smartleaf Asset Management LLC lifted its stake in Korn Ferry by 230.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,381 shares of the business services provider’s stock valued at $93,000 after buying an additional 963 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Korn Ferry in the 4th quarter valued at $122,000. KBC Group NV raised its position in Korn Ferry by 68.5% in the 4th quarter. KBC Group NV now owns 2,542 shares of the business services provider’s stock valued at $171,000 after purchasing an additional 1,033 shares during the last quarter. Glenmede Trust Co. NA acquired a new stake in Korn Ferry during the 3rd quarter worth $203,000. Finally, MML Investors Services LLC purchased a new position in Korn Ferry during the 3rd quarter worth $209,000. Hedge funds and other institutional investors own 98.82% of the company’s stock.

Korn Ferry Stock Performance

Shares of KFY opened at $66.89 on Friday. The stock has a market capitalization of $3.45 billion, a P/E ratio of 14.29 and a beta of 1.57. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 2.07. Korn Ferry has a 1 year low of $59.78 and a 1 year high of $80.64. The company’s fifty day moving average is $67.58 and its two-hundred day moving average is $70.55.

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

Korn Ferry Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Thursday, March 27th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.87%. This is an increase from Korn Ferry’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Thursday, March 27th. Korn Ferry’s dividend payout ratio is 41.29%.

Analysts Set New Price Targets

KFY has been the subject of a number of research reports. StockNews.com raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a report on Tuesday, December 17th. Truist Financial upped their price objective on Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, December 6th.

About Korn Ferry

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.