Wells Fargo & Company MN Boosts Holdings in Korn Ferry (NYSE:KFY)

Wells Fargo & Company MN lifted its position in Korn Ferry (NYSE:KFY) by 14.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 70,330 shares of the business services provider’s stock after acquiring an additional 8,692 shares during the period. Wells Fargo & Company MN’s holdings in Korn Ferry were worth $4,744,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP bought a new stake in Korn Ferry in the fourth quarter worth about $51,454,000. Norges Bank bought a new position in Korn Ferry in the 4th quarter valued at $42,360,000. JPMorgan Chase & Co. boosted its stake in shares of Korn Ferry by 193.9% during the third quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider’s stock valued at $32,050,000 after purchasing an additional 281,024 shares during the period. Thrivent Financial for Lutherans increased its position in Korn Ferry by 19.4% during 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. acquired a new stake in Korn Ferry in the 4th quarter worth approximately $10,727,000. 98.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Korn Ferry Stock Down 1.6 %

Korn Ferry stock opened at $60.70 on Monday. The stock’s 50 day moving average price is $65.29 and its 200 day moving average price is $69.34. The company has a market cap of $3.13 billion, a PE ratio of 12.97 and a beta of 1.40. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.07 and a quick ratio of 2.07. Korn Ferry has a 1-year low of $59.44 and a 1-year high of $80.64.

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

Korn Ferry Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Thursday, March 27th were paid a dividend of $0.48 per share. The ex-dividend date was Thursday, March 27th. This is a boost from Korn Ferry’s previous quarterly dividend of $0.37. This represents a $1.92 annualized dividend and a dividend yield of 3.16%. Korn Ferry’s payout ratio is currently 41.29%.

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.