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

Cibc World Markets Corp purchased a new stake in Korn Ferry (NYSE:KFY) in the fourth quarter, Holdings Channel.com reports. The firm purchased 4,859 shares of the business services provider’s stock, valued at approximately $328,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Wealthfront Advisers LLC acquired a new stake in Korn Ferry in the 4th quarter valued at about $76,000. Smartleaf Asset Management LLC increased its holdings in shares of Korn Ferry by 230.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,381 shares of the business services provider’s stock valued at $93,000 after purchasing an additional 963 shares in the last quarter. Venturi Wealth Management LLC bought a new position in Korn Ferry in the 4th quarter worth approximately $122,000. KBC Group NV lifted its holdings in Korn Ferry by 68.5% during the 4th quarter. KBC Group NV now owns 2,542 shares of the business services provider’s stock worth $171,000 after buying an additional 1,033 shares in the last quarter. Finally, Highland Capital Management LLC bought a new position in Korn Ferry in the 4th quarter valued at $201,000. Institutional investors and hedge funds own 98.82% of the company’s stock.

Analysts Set New Price Targets

KFY has been the topic of several recent research reports. StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a report on Tuesday, December 17th. Truist Financial raised 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.

Korn Ferry Stock Up 2.5 %

NYSE:KFY opened at $68.28 on Tuesday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.22. Korn Ferry has a 12-month low of $59.78 and a 12-month high of $80.64. The stock’s fifty day simple moving average is $67.62 and its 200-day simple moving average is $70.50. The firm has a market capitalization of $3.52 billion, a P/E ratio of 14.59 and a beta of 1.57.

Korn Ferry (NYSE:KFY) last issued its earnings results on Tuesday, March 11th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.06. The firm had revenue of $676.50 million for the quarter, compared to analysts’ expectations of $650.45 million. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The company’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business earned $1.07 earnings per share. Equities research analysts expect that Korn Ferry will post 4.75 earnings per share for the current year.

Korn Ferry Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Thursday, March 27th will be issued a $0.48 dividend. The ex-dividend date is Thursday, March 27th. This is a positive change from Korn Ferry’s previous quarterly dividend of $0.37. This represents a $1.92 annualized dividend and a yield of 2.81%. Korn Ferry’s dividend payout ratio (DPR) is 41.29%.

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.