Short Interest in Korn Ferry (NYSE:KFY) Rises By 21.6%

Korn Ferry (NYSE:KFY) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 1,350,000 shares, a growth of 21.6% from the February 13th total of 1,110,000 shares. Approximately 2.7% of the company’s stock are sold short. Based on an average daily volume of 375,300 shares, the days-to-cover ratio is presently 3.6 days.

Institutional Trading of Korn Ferry

A number of institutional investors have recently modified their holdings of KFY. Atria Investments Inc grew its stake in Korn Ferry by 34.4% in the 3rd quarter. Atria Investments Inc now owns 4,097 shares of the business services provider’s stock valued at $308,000 after acquiring an additional 1,049 shares during the last quarter. Empowered Funds LLC acquired a new position in Korn Ferry in the 3rd quarter valued at about $1,214,000. Natixis Advisors LLC lifted its holdings in Korn Ferry by 2.3% in the 3rd quarter. Natixis Advisors LLC now owns 43,423 shares of the business services provider’s stock valued at $3,267,000 after purchasing an additional 986 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Korn Ferry by 7.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 949,378 shares of the business services provider’s stock worth $71,431,000 after purchasing an additional 62,385 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in shares of Korn Ferry by 79.8% during the third quarter. Quest Partners LLC now owns 17,479 shares of the business services provider’s stock worth $1,315,000 after buying an additional 7,758 shares in the last quarter. 98.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Korn Ferry Stock Up 0.8 %

KFY opened at $67.92 on Thursday. Korn Ferry has a 52 week low of $59.78 and a 52 week high of $80.64. The business has a 50 day moving average price of $67.56 and a two-hundred day moving average price of $70.58. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.50 billion, a PE ratio of 14.51 and a beta of 1.57.

Korn Ferry (NYSE:KFY) last issued its quarterly 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. The firm 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 company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share. As a group, research analysts anticipate that Korn Ferry will post 4.75 EPS for the current year.

Korn Ferry Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Thursday, March 27th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.83%. 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 payout ratio is currently 41.29%.

Korn Ferry Company 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.