Fisher Asset Management LLC Decreases Stock Holdings in Korn Ferry (NYSE:KFY)

Posted by Defense World Staff on Apr 29th, 2023

Fisher Asset Management LLC trimmed its holdings in shares of Korn Ferry (NYSE:KFY – Get Rating) by 11.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,378 shares of the business services provider’s stock after selling 3,493 shares during the quarter. Fisher Asset Management LLC owned 0.05% of Korn Ferry worth $1,436,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Boston Partners grew its holdings in Korn Ferry by 253.6% during the third quarter. Boston Partners now owns 606,823 shares of the business services provider’s stock valued at $29,254,000 after purchasing an additional 435,197 shares during the period. Vanguard Group Inc. grew its holdings in Korn Ferry by 4.9% during the third quarter. Vanguard Group Inc. now owns 6,806,189 shares of the business services provider’s stock valued at $319,551,000 after purchasing an additional 318,600 shares during the period. Renaissance Technologies LLC grew its holdings in Korn Ferry by 406.1% during the first quarter. Renaissance Technologies LLC now owns 346,700 shares of the business services provider’s stock valued at $22,515,000 after purchasing an additional 278,200 shares during the period. BlackRock Inc. grew its holdings in Korn Ferry by 3.1% during the third quarter. BlackRock Inc. now owns 8,455,249 shares of the business services provider’s stock valued at $396,975,000 after purchasing an additional 253,268 shares during the period. Finally, Pictet Asset Management SA grew its holdings in Korn Ferry by 21.4% during the third quarter. Pictet Asset Management SA now owns 1,364,401 shares of the business services provider’s stock valued at $64,059,000 after purchasing an additional 240,179 shares during the period. 91.61% of the stock is owned by hedge funds and other institutional investors.

Korn Ferry Price Performance

Korn Ferry stock opened at $48.02 on Friday. Korn Ferry has a one year low of $46.41 and a one year high of $66.65. The business has a fifty day moving average price of $52.00 and a 200-day moving average price of $53.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $2.52 billion, a P/E ratio of 10.13 and a beta of 1.50.

Korn Ferry (NYSE:KFY – Get Rating) last posted 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. Korn Ferry had a return on equity of 19.22% and a net margin of 8.89%. The business had revenue of $686.80 million during the quarter, compared to analysts’ expectations of $669.56 million. During the same period in the previous year, the business earned $1.59 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. As a group, equities research analysts forecast that Korn Ferry will post 4.95 EPS for the current year.

Korn Ferry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Tuesday, March 28th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Monday, March 27th. Korn Ferry’s payout ratio is 12.66%.

Wall Street Analysts Forecast Growth

KFY has been the subject of several research reports. Robert W. Baird reduced their price objective on Korn Ferry from $61.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, March 16th. StockNews.com began coverage on Korn Ferry in a report on Thursday, March 16th. They issued a “buy” rating for the company. Finally, The Goldman Sachs Group cut their price target on Korn Ferry from $72.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, April 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Korn Ferry currently has a consensus rating of “Moderate Buy” and an average target price of $62.67.

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.