Cullen Capital Management LLC Sells 733 Shares of Korn Ferry (NYSE:KFY)

Cullen Capital Management LLC lessened its position in Korn Ferry (NYSE:KFY) by 5.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 11,764 shares of the business services provider’s stock after selling 733 shares during the period. Cullen Capital Management LLC’s holdings in Korn Ferry were worth $793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in Korn Ferry by 4.1% during the third quarter. The Manufacturers Life Insurance Company now owns 29,903 shares of the business services provider’s stock worth $2,250,000 after purchasing an additional 1,183 shares during the period. FMR LLC increased its holdings in shares of Korn Ferry by 59.3% during the 3rd quarter. FMR LLC now owns 4,608 shares of the business services provider’s stock worth $347,000 after acquiring an additional 1,716 shares during the last quarter. Glenmede Trust Co. NA bought a new stake in Korn Ferry in the 3rd quarter valued at $203,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Korn Ferry by 3.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,443 shares of the business services provider’s stock valued at $861,000 after purchasing an additional 433 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in Korn Ferry by 17.3% during the third quarter. HighTower Advisors LLC now owns 5,430 shares of the business services provider’s stock worth $407,000 after purchasing an additional 800 shares during the period. 98.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating in a research note on Tuesday, December 17th.

Korn Ferry Stock Performance

KFY opened at $62.41 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.07 and a quick ratio of 2.07. The company has a market capitalization of $3.22 billion, a PE ratio of 13.33 and a beta of 1.40. The business has a fifty day simple moving average of $67.08 and a 200 day simple moving average of $70.31. 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 EPS for the quarter, beating 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 business had revenue of $676.50 million for the quarter, compared to the consensus estimate of $650.45 million. During the same period in the prior year, the company posted $1.07 earnings per share. Korn Ferry’s revenue was down .1% compared to the same quarter last year. Research analysts expect that Korn Ferry will post 4.75 EPS for the current 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. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.08%. This is an increase from Korn Ferry’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Thursday, March 27th. Korn Ferry’s payout ratio is presently 41.29%.

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.