Thrivent Financial for Lutherans Buys 184,170 Shares of Korn Ferry (NYSE:KFY)

Thrivent Financial for Lutherans grew its stake in shares of Korn Ferry (NYSE:KFY) by 19.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,133,548 shares of the business services provider’s stock after acquiring an additional 184,170 shares during the period. Thrivent Financial for Lutherans’ holdings in Korn Ferry were worth $76,458,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of KFY. Pacer Advisors Inc. bought a new stake in shares of Korn Ferry during the third quarter valued at approximately $103,546,000. JPMorgan Chase & Co. raised its stake in shares of Korn Ferry by 193.9% during the third quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider’s stock valued at $32,050,000 after acquiring an additional 281,024 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Korn Ferry during the fourth quarter valued at approximately $10,727,000. Barclays PLC raised its stake in Korn Ferry by 129.0% in the third quarter. Barclays PLC now owns 239,937 shares of the business services provider’s stock worth $18,053,000 after buying an additional 135,148 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Korn Ferry by 13.2% during the third quarter. Jennison Associates LLC now owns 988,005 shares of the business services provider’s stock worth $74,337,000 after buying an additional 115,523 shares during the period. Institutional investors own 98.82% of the company’s stock.

Korn Ferry Stock Performance

Shares of KFY opened at $67.49 on Wednesday. Korn Ferry has a 12 month low of $59.78 and a 12 month high of $80.64. The stock has a fifty day moving average price of $67.53 and a 200-day moving average price of $70.60. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22. The firm has a market cap of $3.48 billion, a PE ratio of 14.42 and a beta of 1.57.

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

Korn Ferry Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Thursday, March 27th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.84%. 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. Korn Ferry’s dividend payout ratio is currently 41.29%.

Analyst Ratings Changes

A number of research firms have weighed in on KFY. StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a report on Tuesday, December 17th. Truist Financial upped their target price on Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, December 6th.

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.