Short Interest in Korn Ferry (NYSE:KFY) Expands 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. Based on an average trading volume of 375,300 shares, the short-interest ratio is currently 3.6 days. Currently, 2.7% of the company’s shares are sold short.

Korn Ferry Stock Performance

Shares of NYSE KFY traded down $0.31 during mid-day trading on Wednesday, hitting $67.09. The stock had a trading volume of 84,560 shares, compared to its average volume of 362,603. The firm has a market cap of $3.46 billion, a PE ratio of 14.34 and a beta of 1.57. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 2.07. The company has a 50 day moving average of $67.53 and a two-hundred day moving average of $70.60. Korn Ferry has a twelve month low of $59.78 and a twelve month high of $80.64.

Korn Ferry (NYSE:KFY) last announced its quarterly earnings data on Tuesday, March 11th. The business services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.06. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The business had revenue of $676.50 million for the quarter, compared to analyst estimates of $650.45 million. During the same period in the prior year, the company earned $1.07 earnings per share. The company’s revenue was down .1% on a year-over-year basis. Research analysts predict that Korn Ferry will post 4.75 EPS for the current fiscal year.

Korn Ferry Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Thursday, March 27th will be paid a $0.48 dividend. The ex-dividend date is Thursday, March 27th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.86%. This is a positive change from Korn Ferry’s previous quarterly dividend of $0.37. Korn Ferry’s dividend payout ratio is presently 41.29%.

Wall Street Analyst Weigh In

KFY has been the topic of several research reports. Truist Financial raised their price objective on Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, December 6th. StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a research note on Tuesday, December 17th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. State Street Corp grew its position in Korn Ferry by 2.0% during the 3rd quarter. State Street Corp now owns 2,069,906 shares of the business services provider’s stock worth $156,503,000 after purchasing an additional 40,240 shares during the period. Invesco Ltd. grew its holdings in Korn Ferry by 5.6% during the fourth quarter. Invesco Ltd. now owns 1,840,784 shares of the business services provider’s stock worth $124,161,000 after acquiring an additional 97,811 shares during the period. Pacer Advisors Inc. purchased a new position in Korn Ferry during the third quarter valued at approximately $103,546,000. Geode Capital Management LLC lifted its holdings in Korn Ferry by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,217,031 shares of the business services provider’s stock valued at $91,587,000 after acquiring an additional 28,014 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in Korn Ferry by 19.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,133,548 shares of the business services provider’s stock valued at $76,458,000 after acquiring an additional 184,170 shares during the period. Hedge funds and other institutional investors own 98.82% of the company’s stock.

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.