First Hawaiian Bank Increases Stake in Korn Ferry (NYSE:KFY)

First Hawaiian Bank raised its holdings in shares of Korn Ferry (NYSE:KFY) by 40.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,067 shares of the business services provider’s stock after buying an additional 3,740 shares during the period. First Hawaiian Bank’s holdings in Korn Ferry were worth $859,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in Korn Ferry during the fourth quarter valued at approximately $29,000. GAMMA Investing LLC purchased a new stake in Korn Ferry during the fourth quarter valued at approximately $45,000. DekaBank Deutsche Girozentrale purchased a new stake in Korn Ferry during the third quarter valued at approximately $52,000. Quadrant Capital Group LLC increased its holdings in Korn Ferry by 90.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,060 shares of the business services provider’s stock valued at $63,000 after buying an additional 503 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Korn Ferry by 13.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,540 shares of the business services provider’s stock valued at $151,000 after buying an additional 301 shares during the last quarter. 98.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Korn Ferry

In related news, CEO Mark Arian sold 5,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $66.73, for a total transaction of $333,650.00. Following the completion of the transaction, the chief executive officer now directly owns 96,484 shares of the company’s stock, valued at $6,438,377.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Korn Ferry Stock Performance

KFY opened at $68.09 on Friday. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 21.15 and a beta of 1.48. The company has a fifty day moving average of $64.01 and a 200 day moving average of $61.34. Korn Ferry has a fifty-two week low of $44.45 and a fifty-two week high of $70.78. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 1.79.

Korn Ferry (NYSE:KFY) last posted its earnings results on Thursday, June 13th. The business services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.13. The company had revenue of $690.80 million during the quarter, compared to analysts’ expectations of $687.36 million. Korn Ferry had a net margin of 6.05% and a return on equity of 13.18%. Korn Ferry’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period last year, the company posted $1.01 earnings per share. As a group, sell-side analysts forecast that Korn Ferry will post 4.86 earnings per share for the current fiscal year.

Korn Ferry Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.17%. This is a boost from Korn Ferry’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, July 3rd. Korn Ferry’s dividend payout ratio (DPR) is presently 40.99%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Robert W. Baird increased their price objective on shares of Korn Ferry from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. William Blair raised shares of Korn Ferry from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 29th. StockNews.com raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a research note on Thursday. UBS Group increased their price objective on shares of Korn Ferry from $66.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. Finally, Truist Financial reissued a “buy” rating and issued a $78.00 price objective (up from $74.00) on shares of Korn Ferry in a research note on Friday, June 14th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Korn Ferry currently has an average rating of “Moderate Buy” and an average price target of $75.00.

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.