Bank of New York Mellon Corp trimmed its holdings in shares of Korn/Ferry International (NYSE:KFY) by 10.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,427,209 shares of the business services provider’s stock after selling 174,495 shares during the quarter. Bank of New York Mellon Corp owned 2.49% of Korn/Ferry International worth $88,386,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in KFY. BlackRock Inc. increased its position in shares of Korn/Ferry International by 10.1% during the second quarter. BlackRock Inc. now owns 8,208,282 shares of the business services provider’s stock worth $508,338,000 after acquiring an additional 751,080 shares during the last quarter. United Services Automobile Association increased its position in shares of Korn/Ferry International by 3,284.9% during the second quarter. United Services Automobile Association now owns 370,985 shares of the business services provider’s stock worth $8,640,000 after acquiring an additional 360,025 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Korn/Ferry International by 363.8% during the second quarter. Renaissance Technologies LLC now owns 238,400 shares of the business services provider’s stock worth $14,764,000 after acquiring an additional 187,000 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Korn/Ferry International by 19.2% during the first quarter. Principal Financial Group Inc. now owns 1,073,534 shares of the business services provider’s stock worth $55,384,000 after acquiring an additional 172,847 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Korn/Ferry International by 41.0% during the second quarter. Millennium Management LLC now owns 456,388 shares of the business services provider’s stock worth $28,264,000 after acquiring an additional 132,664 shares during the last quarter. 88.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of Korn/Ferry International stock opened at $45.74 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.14 and a quick ratio of 2.14. The stock has a market capitalization of $2.68 billion, a P/E ratio of 16.82 and a beta of 1.14. Korn/Ferry International has a fifty-two week low of $38.53 and a fifty-two week high of $68.98.
Korn/Ferry International (NYSE:KFY) last announced its quarterly earnings data on Thursday, September 6th. The business services provider reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.07. The firm had revenue of $465.60 million during the quarter, compared to analyst estimates of $458.24 million. Korn/Ferry International had a return on equity of 14.26% and a net margin of 3.51%. Korn/Ferry International’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. Equities research analysts anticipate that Korn/Ferry International will post 3.3 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, September 27th. Korn/Ferry International’s dividend payout ratio is currently 14.71%.
A number of analysts have recently issued reports on the company. Zacks Investment Research lowered Korn/Ferry International from a “buy” rating to a “hold” rating in a research report on Thursday. Credit Suisse Group assumed coverage on Korn/Ferry International in a research report on Friday, August 10th. They set an “underperform” rating and a $55.00 target price on the stock. ValuEngine lowered Korn/Ferry International from a “buy” rating to a “hold” rating in a research report on Monday, September 10th. Finally, TheStreet lowered Korn/Ferry International from an “a-” rating to a “c+” rating in a research report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $61.40.
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About Korn/Ferry International
Korn/Ferry International, together with its subsidiaries, provides talent management solutions worldwide. It operates through three segments: Executive Search, Hay Group, and Futurestep. The company provides executive search services to fill executive-level positions, such as board directors, chief executive officers, chief financial officers, chief operating officers, chief information officers, chief human resource officers, and other senior executive officers for clients in the consumer, financial services, industrial, life sciences/healthcare provider, technology, and educational/not-for-profit market sectors.
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