Bridgewater Associates LP Boosts Stock Position in Korn Ferry (NYSE:KFY)

Bridgewater Associates LP grew its holdings in shares of Korn Ferry (NYSE:KFY) by 4.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,777 shares of the business services provider’s stock after purchasing an additional 1,128 shares during the quarter. Bridgewater Associates LP’s holdings in Korn Ferry were worth $1,671,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in Korn Ferry by 193.9% during the third quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider’s stock worth $32,050,000 after buying an additional 281,024 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Korn Ferry by 5.7% during the 3rd quarter. Principal Financial Group Inc. now owns 271,969 shares of the business services provider’s stock worth $20,463,000 after purchasing an additional 14,601 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Korn Ferry by 44.8% during the 4th quarter. Blue Trust Inc. now owns 3,204 shares of the business services provider’s stock worth $216,000 after purchasing an additional 991 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Korn Ferry by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,217,031 shares of the business services provider’s stock worth $91,587,000 after purchasing an additional 28,014 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in Korn Ferry by 14.2% in the fourth quarter. Allianz Asset Management GmbH now owns 753,414 shares of the business services provider’s stock valued at $50,818,000 after purchasing an additional 93,591 shares during the last quarter. 98.82% of the stock is currently owned by institutional investors.

Korn Ferry Stock Performance

NYSE KFY opened at $60.70 on Friday. The company’s 50 day moving average is $65.29 and its 200-day moving average is $69.39. The firm has a market cap of $3.13 billion, a P/E ratio of 12.97 and a beta of 1.40. Korn Ferry has a 12-month low of $59.44 and a 12-month high of $80.64. 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 (NYSE:KFY) last posted its earnings results on Tuesday, March 11th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.06. The firm had revenue of $676.50 million for the quarter, compared to the consensus estimate of $650.45 million. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.07 earnings per share. Sell-side analysts predict that Korn Ferry will post 4.75 earnings per share for the current year.

Korn Ferry Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Thursday, March 27th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date was Thursday, March 27th. This is a positive change from Korn Ferry’s previous quarterly dividend of $0.37. Korn Ferry’s payout ratio is presently 41.29%.

Analysts Set New Price Targets

Separately, Truist Financial lowered their target price on Korn Ferry from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday.

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.