Korn Ferry (NYSE:KFY) Position Reduced by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its position in shares of Korn Ferry (NYSE:KFY) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,528 shares of the business services provider’s stock after selling 319 shares during the quarter. QRG Capital Management Inc.’s holdings in Korn Ferry were worth $912,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC acquired a new stake in Korn Ferry during the fourth quarter valued at approximately $122,000. KBC Group NV raised its position in shares of Korn Ferry by 68.5% during the fourth quarter. KBC Group NV now owns 2,542 shares of the business services provider’s stock worth $171,000 after purchasing an additional 1,033 shares during the period. Highland Capital Management LLC purchased a new stake in shares of Korn Ferry during the fourth quarter valued at $201,000. Glenmede Trust Co. NA acquired a new position in shares of Korn Ferry in the 3rd quarter valued at $203,000. Finally, MML Investors Services LLC purchased a new position in Korn Ferry in the 3rd quarter worth about $209,000. 98.82% of the stock is currently owned by institutional investors and hedge funds.

Korn Ferry Price Performance

Shares of NYSE:KFY opened at $63.60 on Tuesday. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 13.59 and a beta of 1.57. Korn Ferry has a 1 year low of $59.78 and a 1 year high of $80.64. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $67.85 and a 200 day simple moving average of $71.00.

Korn Ferry (NYSE:KFY) last posted its quarterly earnings results on Thursday, December 5th. The business services provider reported $1.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.21. The company had revenue of $682.00 million during the quarter, compared to the consensus estimate of $675.35 million. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the business earned $0.97 EPS. As a group, sell-side analysts predict that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Friday, December 20th. Korn Ferry’s dividend payout ratio is 31.62%.

Insider Transactions at Korn Ferry

In other Korn Ferry news, CEO Mark Arian sold 20,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $72.24, for a total value of $1,444,800.00. Following the completion of the sale, the chief executive officer now owns 68,869 shares of the company’s stock, valued at $4,975,096.56. The trade was a 22.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.