Bank of New York Mellon Corp Raises Position in Korn Ferry (NYSE:KFY)

Bank of New York Mellon Corp boosted its holdings in Korn Ferry (NYSE:KFY – Get Rating) by 6.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 767,780 shares of the business services provider’s stock after acquiring an additional 49,723 shares during the quarter. Bank of New York Mellon Corp’s holdings in Korn Ferry were worth $36,049,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Korn Ferry by 3.1% in the third quarter. BlackRock Inc. now owns 8,455,249 shares of the business services provider’s stock worth $396,975,000 after purchasing an additional 253,268 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Korn Ferry by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 6,121,545 shares of the business services provider’s stock worth $397,532,000 after buying an additional 285,620 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Korn Ferry by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,891,201 shares of the business services provider’s stock valued at $135,744,000 after buying an additional 10,174 shares in the last quarter. Invesco Ltd. raised its position in shares of Korn Ferry by 11.7% during the 1st quarter. Invesco Ltd. now owns 1,783,944 shares of the business services provider’s stock valued at $115,849,000 after buying an additional 186,361 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Korn Ferry by 2.1% during the 1st quarter. State Street Corp now owns 1,780,282 shares of the business services provider’s stock worth $115,821,000 after acquiring an additional 35,781 shares during the last quarter. Hedge funds and other institutional investors own 91.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on KFY shares. William Blair downgraded Korn Ferry from an “outperform” rating to a “market perform” rating in a research report on Friday, November 25th. StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a report on Thursday, December 29th. The Goldman Sachs Group cut their target price on Korn Ferry from $72.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, December 12th. Robert W. Baird decreased their price target on shares of Korn Ferry from $64.00 to $61.00 in a research note on Friday, December 9th. Finally, Truist Financial cut their price objective on shares of Korn Ferry from $75.00 to $65.00 in a research note on Friday, December 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.67.

Korn Ferry Price Performance

Shares of Korn Ferry stock opened at $52.33 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.88 and a quick ratio of 1.96. Korn Ferry has a one year low of $46.47 and a one year high of $69.02. The business’s 50 day simple moving average is $54.86 and its two-hundred day simple moving average is $53.85. The stock has a market capitalization of $2.76 billion, a P/E ratio of 11.04 and a beta of 1.46.

Korn Ferry (NYSE:KFY – Get Rating) last issued its earnings results on Wednesday, March 8th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.89 by $0.12. The company had revenue of $686.80 million for the quarter, compared to the consensus estimate of $669.56 million. Korn Ferry had a net margin of 8.89% and a return on equity of 19.22%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.59 earnings per share. Analysts forecast that Korn Ferry will post 4.95 EPS for the current year.

Korn Ferry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Tuesday, March 28th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Monday, March 27th. Korn Ferry’s dividend payout ratio (DPR) is 12.66%.

Korn Ferry Profile

(Get Rating)

Korn Ferry operates as a global organizational consulting firm, which engages in synchronizing its clients strategy, operations and talent to drive superior business performance. It operates through the following segments: Consulting, Digital, Executive Search North America, Executive Search EMEA, Executive Search Asia Pacific, Executive Search Latin America, and RPO & Professional Search.