Korn Ferry (NYSE:KFY) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its holdings in shares of Korn Ferry (NYSE:KFY) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 335,025 shares of the business services provider’s stock after selling 25,372 shares during the quarter. Pictet Asset Management Holding SA owned 0.65% of Korn Ferry worth $22,597,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in Korn Ferry by 193.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider’s stock worth $32,050,000 after purchasing an additional 281,024 shares in the last quarter. Vestcor Inc grew its position in shares of Korn Ferry by 323.7% during the third quarter. Vestcor Inc now owns 18,487 shares of the business services provider’s stock worth $1,391,000 after buying an additional 14,124 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Korn Ferry by 5.7% during the third quarter. Principal Financial Group Inc. now owns 271,969 shares of the business services provider’s stock worth $20,463,000 after buying an additional 14,601 shares during the period. Blue Trust Inc. raised its holdings in Korn Ferry by 44.8% in the fourth quarter. Blue Trust Inc. now owns 3,204 shares of the business services provider’s stock valued at $216,000 after acquiring an additional 991 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Korn Ferry by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,217,031 shares of the business services provider’s stock worth $91,587,000 after acquiring an additional 28,014 shares during the last quarter. Hedge funds and other institutional investors own 98.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating in a report on Tuesday, December 17th. Truist Financial raised their price target on 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 Down 0.6 %

KFY stock opened at $67.70 on Tuesday. The stock has a market cap of $3.49 billion, a P/E ratio of 14.46 and a beta of 1.57. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22. Korn Ferry has a twelve month low of $59.78 and a twelve month high of $80.64. The company’s 50 day moving average is $67.46 and its two-hundred day moving average is $70.47.

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

Korn Ferry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Thursday, March 27th will be given a dividend of $0.48 per share. This is a positive change from Korn Ferry’s previous quarterly dividend of $0.37. The ex-dividend date is Thursday, March 27th. This represents a $1.92 annualized dividend and a yield of 2.84%. Korn Ferry’s payout ratio is 41.29%.

About Korn Ferry

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.