Korn Ferry (NYSE:KFY – Get Free Report) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 697,700 shares, a drop of 19.1% from the July 15th total of 862,500 shares. Based on an average daily volume of 306,500 shares, the days-to-cover ratio is currently 2.3 days. Currently, 1.4% of the shares of the stock are sold short.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on KFY. Truist Financial reiterated a “buy” rating and set a $65.00 price target on shares of Korn Ferry in a research report on Friday, July 14th. StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a report on Friday. One investment 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.67.
Read Our Latest Research Report on KFY
Korn Ferry Stock Performance
Korn Ferry (NYSE:KFY – Get Free Report) last issued its earnings results on Tuesday, June 27th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $1.00 by $0.01. The business had revenue of $730.90 million during the quarter, compared to analysts’ expectations of $699.83 million. Korn Ferry had a return on equity of 16.33% and a net margin of 7.32%. Korn Ferry’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.75 earnings per share. On average, sell-side analysts anticipate that Korn Ferry will post 3.66 EPS for the current fiscal year.
Korn Ferry Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, July 7th were given a dividend of $0.18 per share. This is a boost from Korn Ferry’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $0.72 dividend on an annualized basis and a yield of 1.37%. Korn Ferry’s dividend payout ratio (DPR) is presently 18.23%.
Institutional Trading of Korn Ferry
A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Korn Ferry by 1.2% during the second quarter. BlackRock Inc. now owns 8,264,247 shares of the business services provider’s stock valued at $409,411,000 after purchasing an additional 96,634 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in Korn Ferry by 28.3% during the second quarter. Hotchkis & Wiley Capital Management LLC now owns 1,668,059 shares of the business services provider’s stock valued at $82,636,000 after buying an additional 367,735 shares in the last quarter. Kestra Advisory Services LLC raised its holdings in Korn Ferry by 10.5% during the second quarter. Kestra Advisory Services LLC now owns 5,244 shares of the business services provider’s stock valued at $260,000 after buying an additional 500 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Korn Ferry by 127.3% during the second quarter. Hsbc Holdings PLC now owns 12,374 shares of the business services provider’s stock valued at $620,000 after buying an additional 6,929 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Korn Ferry by 0.9% during the second quarter. Clearbridge Investments LLC now owns 262,329 shares of the business services provider’s stock valued at $12,996,000 after buying an additional 2,269 shares in the last quarter. Institutional investors and hedge funds own 92.93% of the company’s stock.
Korn Ferry Company Profile
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.
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