PNC Financial Services Group Inc. increased its stake in shares of Korn Ferry (NYSE:KFY) by 22.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,066 shares of the business services provider’s stock after purchasing an additional 1,113 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Korn Ferry were worth $240,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its holdings in shares of Korn Ferry by 1.8% in the 4th quarter. State of Alaska Department of Revenue now owns 18,952 shares of the business services provider’s stock worth $749,000 after acquiring an additional 328 shares during the period. Piedmont Investment Advisors Inc. lifted its stake in shares of Korn Ferry by 2.9% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 13,500 shares of the business services provider’s stock valued at $534,000 after purchasing an additional 376 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Korn Ferry by 11.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,649 shares of the business services provider’s stock worth $144,000 after acquiring an additional 384 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Korn Ferry by 90.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,050 shares of the business services provider’s stock valued at $42,000 after buying an additional 500 shares during the last quarter. Finally, Trust Co. of Vermont bought a new stake in Korn Ferry in the fourth quarter valued at about $25,000. 92.01% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on KFY. Zacks Investment Research lowered shares of Korn Ferry from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. TheStreet raised shares of Korn Ferry from a “c” rating to a “b” rating in a report on Friday, December 7th. SunTrust Banks reduced their target price on shares of Korn Ferry to $63.00 and set a “buy” rating on the stock in a report on Friday, December 7th. ValuEngine upgraded shares of Korn Ferry from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Credit Suisse Group reduced their price target on shares of Korn Ferry from $44.00 to $40.00 and set an “underperform” rating for the company in a research report on Friday, December 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Korn Ferry currently has a consensus rating of “Hold” and a consensus price target of $58.25.
Korn Ferry (NYSE:KFY) last released its quarterly earnings data on Thursday, December 6th. The business services provider reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.05. Korn Ferry had a net margin of 3.92% and a return on equity of 15.01%. The firm had revenue of $495.20 million for the quarter, compared to the consensus estimate of $485.94 million. During the same quarter in the prior year, the company posted $0.67 earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. Equities analysts predict that Korn Ferry will post 3.36 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Thursday, December 20th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Wednesday, December 19th. Korn Ferry’s dividend payout ratio is presently 14.71%.
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About Korn Ferry
Korn Ferry, together with its subsidiaries, provides talent management solutions worldwide. It operates through three segments: Executive Search, Hay Group, and Futurestep. The company provides executive search services to fill executive-level positions, such as board directors, chief executive officers, chief financial officers, chief operating officers, chief information officers, chief human resource officers, and other senior executive officers for clients in the consumer, financial services, industrial, life sciences/healthcare provider, technology, and educational/not-for-profit market sectors.
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