Wealthfront Advisers LLC Takes Position in Korn Ferry (NYSE:KFY)

Wealthfront Advisers LLC acquired a new position in shares of Korn Ferry (NYSE:KFY) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,122 shares of the business services provider’s stock, valued at approximately $76,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Korn Ferry by 13.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,933 shares of the business services provider’s stock worth $872,000 after buying an additional 1,490 shares during the period. Amundi boosted its position in shares of Korn Ferry by 181.7% during the fourth quarter. Amundi now owns 29,984 shares of the business services provider’s stock worth $1,983,000 after buying an additional 19,341 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Korn Ferry during the fourth quarter worth approximately $10,727,000. Arizona State Retirement System boosted its position in shares of Korn Ferry by 1.2% during the fourth quarter. Arizona State Retirement System now owns 15,094 shares of the business services provider’s stock worth $1,018,000 after buying an additional 176 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Korn Ferry in the fourth quarter worth approximately $685,000. 98.82% of the stock is currently owned by institutional investors and hedge funds.

Korn Ferry Price Performance

Shares of NYSE:KFY opened at $67.49 on Wednesday. Korn Ferry has a one year low of $59.78 and a one year high of $80.64. The stock has a fifty day moving average of $67.53 and a 200-day moving average of $70.60. The company has a market capitalization of $3.48 billion, a PE ratio of 14.42 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 (NYSE:KFY) last announced 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 return on equity of 14.27% and a net margin of 9.03%. The company had revenue of $676.50 million during the quarter, compared to the consensus estimate of $650.45 million. During the same quarter in the prior year, the firm earned $1.07 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities analysts anticipate 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 will be paid on Tuesday, April 15th. Stockholders of record on Thursday, March 27th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, March 27th. This is an increase from Korn Ferry’s previous quarterly dividend of $0.37. Korn Ferry’s dividend payout ratio is 41.29%.

Analyst Ratings Changes

A number of research firms have weighed in 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 upped their target price on Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a research report 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.