Bessemer Group Inc. Invests $86,000 in Korn Ferry (NYSE:KFY)

Posted by Defense World Staff on Aug 26th, 2023

Bessemer Group Inc. acquired a new stake in Korn Ferry (NYSE:KFY – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,662 shares of the business services provider’s stock, valued at approximately $86,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KFY. Norges Bank acquired a new stake in Korn Ferry in the fourth quarter valued at $35,032,000. American Century Companies Inc. grew its stake in Korn Ferry by 17.5% in the 4th quarter. American Century Companies Inc. now owns 2,676,114 shares of the business services provider’s stock valued at $135,465,000 after acquiring an additional 397,689 shares during the last quarter. Vanguard Group Inc. increased its holdings in Korn Ferry by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 6,806,189 shares of the business services provider’s stock valued at $319,551,000 after acquiring an additional 318,600 shares in the last quarter. Renaissance Technologies LLC raised its position 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 worth $22,515,000 after acquiring an additional 278,200 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Korn Ferry by 14.9% in the fourth quarter. Alliancebernstein L.P. now owns 1,650,554 shares of the business services provider’s stock valued at $83,551,000 after purchasing an additional 214,170 shares in the last quarter. 92.93% of the stock is owned by institutional investors and hedge funds.

Korn Ferry Stock Performance

Korn Ferry stock opened at $52.15 on Friday. The stock has a fifty day moving average price of $51.56 and a 200 day moving average price of $51.35. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. Korn Ferry has a 52 week low of $44.69 and a 52 week high of $66.00. The firm has a market capitalization of $2.72 billion, a P/E ratio of 13.20 and a beta of 1.49.

Korn Ferry (NYSE:KFY – Get Free Report) last announced its quarterly earnings data 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 net margin of 7.32% and a return on equity of 16.33%. The business had revenue of $730.90 million for the quarter, compared to analyst estimates of $699.83 million. During the same period in the prior year, the firm posted $1.75 EPS. The company’s revenue was up 1.4% on a year-over-year basis. Equities research analysts anticipate that Korn Ferry will post 3.66 earnings per share for the current year.

Korn Ferry Increases Dividend

The business also recently declared 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. The ex-dividend date was Thursday, July 6th. This is a positive change from Korn Ferry’s previous quarterly dividend of $0.15. This represents a $0.72 annualized dividend and a yield of 1.38%. Korn Ferry’s payout ratio is 18.23%.

Analysts Set New Price Targets

KFY has been the subject of a number of recent research reports. Truist Financial reissued a “buy” rating and set a $65.00 price objective on shares of Korn Ferry in a research note on Friday, July 14th. StockNews.com started coverage on Korn Ferry in a research report on Saturday, August 19th. They set a “buy” rating for the company. One 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, Korn Ferry currently has a consensus rating of “Moderate Buy” and an average target price of $62.67.

Check Out Our Latest Stock Report on Korn Ferry

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.