Norges Bank Makes New $36.35 Million Investment in Korn Ferry (NYSE:KFY)

Norges Bank purchased a new position in Korn Ferry (NYSE:KFYFree Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 612,414 shares of the business services provider’s stock, valued at approximately $36,347,000. Norges Bank owned 1.17% of Korn Ferry at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Korn Ferry by 0.6% during the third quarter. Vanguard Group Inc. now owns 6,257,755 shares of the business services provider’s stock valued at $296,868,000 after acquiring an additional 34,960 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Korn Ferry by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,205,679 shares of the business services provider’s stock valued at $190,257,000 after acquiring an additional 10,322 shares in the last quarter. American Century Companies Inc. grew its stake in Korn Ferry by 3.2% during the third quarter. American Century Companies Inc. now owns 2,739,697 shares of the business services provider’s stock valued at $129,971,000 after acquiring an additional 85,781 shares in the last quarter. Invesco Ltd. grew its stake in Korn Ferry by 10.1% during the third quarter. Invesco Ltd. now owns 1,521,044 shares of the business services provider’s stock valued at $72,158,000 after acquiring an additional 140,142 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in Korn Ferry by 53.9% during the fourth quarter. Pacer Advisors Inc. now owns 959,441 shares of the business services provider’s stock valued at $56,943,000 after acquiring an additional 336,040 shares in the last quarter. 98.82% of the stock is currently owned by institutional investors.

Insider Transactions at Korn Ferry

In other news, Director Jerry Leamon sold 10,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $65.80, for a total value of $658,000.00. Following the completion of the sale, the director now owns 16,802 shares in the company, valued at approximately $1,105,571.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

KFY has been the subject of several research analyst reports. Robert W. Baird raised their target price on shares of Korn Ferry from $62.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Truist Financial lifted their price objective on shares of Korn Ferry from $64.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. William Blair raised shares of Korn Ferry from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 29th. StockNews.com raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a research note on Wednesday, March 13th. Finally, UBS Group lifted their price objective on shares of Korn Ferry from $55.00 to $63.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Check Out Our Latest Report on KFY

Korn Ferry Stock Performance

Shares of NYSE:KFY opened at $65.52 on Friday. The firm has a fifty day simple moving average of $63.76 and a two-hundred day simple moving average of $59.86. The stock has a market capitalization of $3.44 billion, a P/E ratio of 22.67 and a beta of 1.47. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.23. Korn Ferry has a 52 week low of $44.45 and a 52 week high of $69.69.

Korn Ferry (NYSE:KFYGet Free Report) last released its earnings results on Wednesday, March 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.08. The firm had revenue of $676.80 million during the quarter, compared to analyst estimates of $657.91 million. Korn Ferry had a net margin of 5.34% and a return on equity of 12.59%. The business’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned $1.01 EPS. On average, analysts expect that Korn Ferry will post 4.17 earnings per share for the current fiscal year.

Korn Ferry Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, March 27th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, March 26th. This represents a $1.32 annualized dividend and a dividend yield of 2.01%. Korn Ferry’s dividend payout ratio (DPR) is presently 45.67%.

Korn Ferry Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Korn Ferry (NYSE:KFY)

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