Geode Capital Management LLC Has $27.35 Million Stock Position in Kforce Inc. (NASDAQ:KFRC)

Geode Capital Management LLC boosted its stake in shares of Kforce Inc. (NASDAQ:KFRC) by 0.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 482,199 shares of the business services provider’s stock after buying an additional 1,720 shares during the quarter. Geode Capital Management LLC’s holdings in Kforce were worth $27,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of KFRC. Charles Schwab Investment Management Inc. lifted its stake in shares of Kforce by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 758,963 shares of the business services provider’s stock valued at $43,033,000 after buying an additional 39,800 shares during the period. Tributary Capital Management LLC increased its position in shares of Kforce by 38.3% during the fourth quarter. Tributary Capital Management LLC now owns 422,930 shares of the business services provider’s stock valued at $23,980,000 after purchasing an additional 117,231 shares during the period. Wellington Management Group LLP lifted its position in Kforce by 36.3% in the fourth quarter. Wellington Management Group LLP now owns 297,111 shares of the business services provider’s stock worth $16,846,000 after purchasing an additional 79,100 shares during the period. Bank of New York Mellon Corp boosted its stake in Kforce by 9.6% during the fourth quarter. Bank of New York Mellon Corp now owns 148,971 shares of the business services provider’s stock worth $8,447,000 after buying an additional 13,066 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Kforce by 84.3% in the 4th quarter. Teacher Retirement System of Texas now owns 111,170 shares of the business services provider’s stock valued at $6,303,000 after buying an additional 50,839 shares in the last quarter. 92.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Truist Financial dropped their price target on shares of Kforce from $58.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday.

Kforce Stock Performance

Kforce stock opened at $44.15 on Friday. Kforce Inc. has a 52-week low of $42.11 and a 52-week high of $71.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 2.06. The stock has a fifty day moving average price of $48.74 and a two-hundred day moving average price of $54.40. The firm has a market capitalization of $843.81 million, a P/E ratio of 16.48 and a beta of 0.76.

Kforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a dividend of $0.39 per share. This is an increase from Kforce’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Friday, March 7th. Kforce’s dividend payout ratio (DPR) is currently 58.21%.

Kforce Profile

Kforce Inc provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security.