New York State Teachers Retirement System Reduces Stake in Korn Ferry (NYSE:KFY)

New York State Teachers Retirement System lowered its holdings in Korn Ferry (NYSE:KFY) by 1.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 90,722 shares of the business services provider’s stock after selling 1,394 shares during the quarter. New York State Teachers Retirement System owned approximately 0.18% of Korn Ferry worth $6,119,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its holdings in Korn Ferry by 1,083.4% in the 3rd quarter. Blue Trust Inc. now owns 2,213 shares of the business services provider’s stock worth $167,000 after buying an additional 2,026 shares during the period. CWM LLC lifted its holdings in Korn Ferry by 153.9% in the 3rd quarter. CWM LLC now owns 2,260 shares of the business services provider’s stock worth $170,000 after buying an additional 1,370 shares during the period. KBC Group NV lifted its holdings in Korn Ferry by 68.5% in the 4th quarter. KBC Group NV now owns 2,542 shares of the business services provider’s stock worth $171,000 after buying an additional 1,033 shares during the period. Highland Capital Management LLC purchased a new stake in Korn Ferry in the 4th quarter worth approximately $201,000. Finally, Glenmede Trust Co. NA purchased a new position in shares of Korn Ferry in the 3rd quarter valued at approximately $203,000. Hedge funds and other institutional investors own 98.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on KFY shares. StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a research note on Tuesday, December 17th. Truist Financial raised their target price on Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Korn Ferry Stock Up 0.6 %

Shares of NYSE:KFY opened at $66.75 on Thursday. The stock has a fifty day simple moving average of $68.42 and a two-hundred day simple moving average of $71.14. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 14.26 and a beta of 1.57. Korn Ferry has a 12-month low of $57.91 and a 12-month high of $80.64. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22.

Korn Ferry (NYSE:KFY) last posted its earnings results on Thursday, December 5th. The business services provider reported $1.21 EPS for the quarter, hitting analysts’ consensus estimates of $1.21. The business had revenue of $682.00 million during the quarter, compared to analyst estimates of $675.35 million. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.97 EPS. On average, research analysts anticipate that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, December 20th. Korn Ferry’s payout ratio is currently 31.62%.

Insider Buying and Selling

In related news, CEO Mark Arian sold 20,000 shares of Korn Ferry stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $72.24, for a total transaction of $1,444,800.00. Following the transaction, the chief executive officer now directly owns 68,869 shares in the company, valued at approximately $4,975,096.56. The trade was a 22.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

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.