Cibc World Markets Corp Takes Position in Korn Ferry (NYSE:KFY)

Cibc World Markets Corp acquired a new position in shares of Korn Ferry (NYSE:KFY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,859 shares of the business services provider’s stock, valued at approximately $328,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wealthfront Advisers LLC acquired a new position in shares of Korn Ferry during the fourth quarter worth approximately $76,000. Smartleaf Asset Management LLC increased its position in Korn Ferry by 230.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,381 shares of the business services provider’s stock worth $93,000 after acquiring an additional 963 shares during the period. Venturi Wealth Management LLC acquired a new position in Korn Ferry during the 4th quarter valued at $122,000. KBC Group NV boosted its holdings in Korn Ferry by 68.5% in the 4th quarter. KBC Group NV now owns 2,542 shares of the business services provider’s stock valued at $171,000 after purchasing an additional 1,033 shares during the period. Finally, Glenmede Trust Co. NA acquired a new stake in Korn Ferry in the 3rd quarter worth $203,000. Institutional investors own 98.82% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Truist Financial increased their target price on shares of Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, December 6th. StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a research report on Tuesday, December 17th.

Korn Ferry Price Performance

Shares of Korn Ferry stock opened at $68.28 on Tuesday. The firm has a market cap of $3.52 billion, a P/E ratio of 14.59 and a beta of 1.57. The firm’s 50-day simple moving average is $67.62 and its 200-day simple moving average is $70.50. Korn Ferry has a twelve month low of $59.78 and a twelve month high of $80.64. 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 released its quarterly earnings data on Tuesday, March 11th. The business services provider reported $1.19 earnings per share 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 for the quarter, compared to the consensus estimate of $650.45 million. During the same period in the previous year, the business earned $1.07 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. As a group, research analysts expect that Korn Ferry will post 4.75 EPS for the current fiscal year.

Korn Ferry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Thursday, March 27th will be issued a dividend of $0.48 per share. This is an increase from Korn Ferry’s previous quarterly dividend of $0.37. This represents a $1.92 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, March 27th. Korn Ferry’s dividend payout ratio (DPR) is currently 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.