Pictet Asset Management Holding SA Lowers Holdings in Korn Ferry (NYSE:KFY)

Pictet Asset Management Holding SA lowered its position in shares of Korn Ferry (NYSE:KFY) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 335,025 shares of the business services provider’s stock after selling 25,372 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Korn Ferry were worth $22,597,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Wealthfront Advisers LLC acquired a new position in shares of Korn Ferry during the fourth quarter worth about $76,000. Smartleaf Asset Management LLC increased its position in Korn Ferry by 230.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,381 shares of the business services provider’s stock worth $93,000 after purchasing an additional 963 shares during the period. Venturi Wealth Management LLC acquired a new position in Korn Ferry during the 4th quarter worth approximately $122,000. New Age Alpha Advisors LLC acquired a new stake in shares of Korn Ferry in the 4th quarter valued at approximately $162,000. Finally, KBC Group NV boosted its stake in shares of Korn Ferry by 68.5% in the fourth quarter. KBC Group NV now owns 2,542 shares of the business services provider’s stock valued at $171,000 after buying an additional 1,033 shares in the last quarter. Institutional investors and hedge funds own 98.82% of the company’s stock.

Korn Ferry Stock Performance

Shares of KFY stock opened at $67.70 on Tuesday. The stock has a fifty day moving average price of $67.46 and a 200 day moving average price of $70.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 2.07. The stock has a market cap of $3.49 billion, a PE ratio of 14.46 and a beta of 1.57. Korn Ferry has a 1 year low of $59.78 and a 1 year high of $80.64.

Korn Ferry (NYSE:KFY) last released its quarterly 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 business had revenue of $676.50 million during 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 revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 EPS. Sell-side analysts forecast that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Thursday, March 27th will be given a $0.48 dividend. The ex-dividend date of this dividend 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 dividend yield of 2.84%. Korn Ferry’s dividend payout ratio is currently 41.29%.

Analysts Set New Price Targets

Several research analysts have issued reports on KFY shares. StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a research report on Tuesday, December 17th. Truist Financial increased their price target on shares of Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, December 6th.

Korn Ferry 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.