Bessemer Group Inc. Sells 1,279 Shares of Korn Ferry (NYSE:KFY)

Bessemer Group Inc. trimmed its position in Korn Ferry (NYSE:KFY) by 71.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 512 shares of the business services provider’s stock after selling 1,279 shares during the quarter. Bessemer Group Inc.’s holdings in Korn Ferry were worth $35,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Arizona State Retirement System lifted its stake in shares of Korn Ferry by 1.2% during the fourth quarter. Arizona State Retirement System now owns 15,094 shares of the business services provider’s stock valued at $1,018,000 after acquiring an additional 176 shares during the period. Savant Capital LLC lifted its position in Korn Ferry by 7.4% during the 4th quarter. Savant Capital LLC now owns 3,629 shares of the business services provider’s stock valued at $245,000 after purchasing an additional 249 shares during the period. Heritage Family Offices LLP boosted its stake in shares of Korn Ferry by 7.2% in the 4th quarter. Heritage Family Offices LLP now owns 3,860 shares of the business services provider’s stock valued at $260,000 after purchasing an additional 259 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Korn Ferry by 1.3% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 27,778 shares of the business services provider’s stock worth $1,874,000 after buying an additional 343 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in Korn Ferry by 7.2% in the fourth quarter. Bank of Montreal Can now owns 7,014 shares of the business services provider’s stock valued at $473,000 after buying an additional 471 shares during the period. 98.82% of the stock is owned by institutional investors and hedge funds.

Korn Ferry Stock Performance

Shares of NYSE:KFY opened at $60.70 on Friday. The firm’s 50 day simple moving average is $65.44 and its 200 day simple moving average is $69.48. Korn Ferry has a fifty-two week low of $59.44 and a fifty-two week high of $80.64. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 12.97 and a beta of 1.40. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.07 and a quick ratio of 2.07.

Korn Ferry (NYSE:KFY) last posted its earnings results on Tuesday, March 11th. The business services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.06. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The company had revenue of $676.50 million for the quarter, compared to analyst estimates of $650.45 million. During the same period last year, the business posted $1.07 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, sell-side analysts forecast that Korn Ferry will post 4.75 earnings per share for the current year.

Korn Ferry Increases Dividend

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

Wall Street Analyst Weigh In

Separately, Truist Financial lowered their target price on shares of Korn Ferry from $84.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday.

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.