762,849 Shares in Korn Ferry (NYSE:KFY) Purchased by Wellington Management Group LLP

Wellington Management Group LLP acquired a new stake in shares of Korn Ferry (NYSE:KFY) in the fourth quarter, HoldingsChannel reports. The fund acquired 762,849 shares of the business services provider’s stock, valued at approximately $51,454,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealthfront Advisers LLC purchased a new position in shares of Korn Ferry during the 4th quarter valued at approximately $76,000. Smartleaf Asset Management LLC raised its holdings in Korn Ferry by 230.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,381 shares of the business services provider’s stock valued at $93,000 after acquiring an additional 963 shares in the last quarter. Venturi Wealth Management LLC bought a new position in Korn Ferry during the 4th quarter valued at $122,000. New Age Alpha Advisors LLC acquired a new position in Korn Ferry during the 4th quarter worth $162,000. Finally, KBC Group NV increased its position in shares of Korn Ferry by 68.5% in the 4th 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 last quarter. 98.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a research report on Tuesday, December 17th.

Korn Ferry Stock Performance

Shares of KFY opened at $62.41 on Friday. The stock has a market capitalization of $3.22 billion, a PE ratio of 13.33 and a beta of 1.40. The business’s fifty day moving average price is $67.08 and its 200 day moving average price is $70.31. 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 12-month low of $59.78 and a 12-month high of $80.64.

Korn Ferry (NYSE:KFY) last posted its quarterly earnings results on Tuesday, March 11th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, topping 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 company had revenue of $676.50 million for the quarter, compared to the consensus estimate of $650.45 million. During the same period last year, the firm posted $1.07 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts forecast that Korn Ferry will post 4.75 EPS for the current year.

Korn Ferry Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Thursday, March 27th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, March 27th. This is a positive change from Korn Ferry’s previous quarterly dividend of $0.37. This represents a $1.92 annualized dividend and a dividend yield of 3.08%. Korn Ferry’s dividend payout ratio is 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.