New York Life Investment Management LLC Grows Position in Korn Ferry (NYSE:KFY)

Posted by Defense World Staff on Aug 17th, 2023

New York Life Investment Management LLC boosted its position in shares of Korn Ferry (NYSE:KFY – Free Report) by 6.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,263 shares of the business services provider’s stock after acquiring an additional 550 shares during the quarter. New York Life Investment Management LLC’s holdings in Korn Ferry were worth $479,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TCI Wealth Advisors Inc. boosted its holdings in Korn Ferry by 123.8% during the 4th quarter. TCI Wealth Advisors Inc. now owns 573 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 317 shares during the period. Advisors Asset Management Inc. boosted its holdings in Korn Ferry by 55.2% during the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the business services provider’s stock valued at $61,000 after acquiring an additional 336 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in Korn Ferry by 22.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,132 shares of the business services provider’s stock valued at $57,000 after acquiring an additional 207 shares during the period. Quadrant Capital Group LLC boosted its holdings in Korn Ferry by 106.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,214 shares of the business services provider’s stock valued at $61,000 after acquiring an additional 627 shares during the period. Finally, Lazard Asset Management LLC raised its position in Korn Ferry by 22.6% in the 1st quarter. Lazard Asset Management LLC now owns 1,695 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 313 shares in the last quarter. 92.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on KFY. StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Truist Financial reaffirmed a “buy” rating and issued a $65.00 price target on shares of Korn Ferry in a research report on Friday, July 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.67.

View Our Latest Research Report on KFY

Korn Ferry Price Performance

Shares of NYSE KFY opened at $51.55 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 1.68. Korn Ferry has a fifty-two week low of $44.69 and a fifty-two week high of $66.47. The firm has a market capitalization of $2.76 billion, a PE ratio of 13.05 and a beta of 1.49. The stock’s 50-day simple moving average is $51.49 and its 200-day simple moving average is $51.52.

Korn Ferry (NYSE:KFY – Get Free Report) last issued its earnings results on Tuesday, June 27th. The business services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.01. Korn Ferry had a return on equity of 16.33% and a net margin of 7.32%. The business had revenue of $730.90 million for the quarter, compared to analyst estimates of $699.83 million. During the same quarter last year, the company earned $1.75 EPS. The business’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities research analysts forecast that Korn Ferry will post 3.66 EPS for the current fiscal year.

Korn Ferry Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 7th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Thursday, July 6th. This is a positive change from Korn Ferry’s previous quarterly dividend of $0.15. Korn Ferry’s dividend payout ratio (DPR) is 18.23%.

About Korn Ferry

(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.