Norges Bank Acquires Shares of 628,026 Korn Ferry (NYSE:KFY)

Norges Bank bought a new position in shares of Korn Ferry (NYSE:KFY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 628,026 shares of the business services provider’s stock, valued at approximately $42,360,000. Norges Bank owned 1.22% of Korn Ferry as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Korn Ferry by 193.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider’s stock worth $32,050,000 after purchasing an additional 281,024 shares during the period. Thrivent Financial for Lutherans increased its holdings in Korn Ferry by 19.4% in the fourth 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. Raymond James Financial Inc. acquired a new position in shares of Korn Ferry in the fourth quarter worth about $10,727,000. Barclays PLC boosted its stake in shares of Korn Ferry by 129.0% during the 3rd quarter. Barclays PLC now owns 239,937 shares of the business services provider’s stock worth $18,053,000 after acquiring an additional 135,148 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of Korn Ferry by 14.2% during the 4th quarter. Allianz Asset Management GmbH now owns 753,414 shares of the business services provider’s stock valued at $50,818,000 after acquiring an additional 93,591 shares during the period. 98.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KFY. StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a research report on Tuesday, December 17th. Truist Financial boosted their price target on shares of Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, December 6th.

Korn Ferry Price Performance

Shares of Korn Ferry stock opened at $62.41 on Friday. The stock has a market capitalization of $3.22 billion, a P/E ratio of 13.33 and a beta of 1.40. The business has a 50 day simple moving average of $67.08 and a two-hundred day simple moving average of $70.33. Korn Ferry has a 12 month low of $59.78 and a 12 month high of $80.64. 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 (NYSE:KFY) last announced its quarterly earnings data 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. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The company had revenue of $676.50 million for the quarter, compared to analyst estimates of $650.45 million. During the same quarter last year, the firm posted $1.07 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. As a group, analysts predict that Korn Ferry will post 4.75 EPS for the current fiscal year.

Korn Ferry Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Thursday, March 27th will be issued a $0.48 dividend. 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. This represents a $1.92 dividend on an annualized basis and a yield of 3.08%. Korn Ferry’s dividend payout ratio is presently 41.29%.

Korn Ferry Company 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.