Korn Ferry (NYSE:KFY) Shares Purchased by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp raised its position in shares of Korn Ferry (NYSE:KFY) by 33.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,198 shares of the business services provider’s stock after purchasing an additional 15,215 shares during the quarter. Texas Permanent School Fund Corp owned about 0.12% of Korn Ferry worth $4,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Korn Ferry during the fourth quarter valued at about $36,347,000. Circumference Group LLC acquired a new position in shares of Korn Ferry in the 4th quarter worth approximately $2,131,000. Charles Schwab Investment Management Inc. grew its stake in shares of Korn Ferry by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 719,462 shares of the business services provider’s stock worth $42,700,000 after purchasing an additional 35,985 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Korn Ferry by 161.5% in the 1st quarter. Janus Henderson Group PLC now owns 67,064 shares of the business services provider’s stock worth $4,409,000 after purchasing an additional 41,416 shares in the last quarter. Finally, UniSuper Management Pty Ltd acquired a new stake in Korn Ferry during the first quarter valued at approximately $815,000. Institutional investors own 98.82% of the company’s stock.

Insider Activity at Korn Ferry

In other Korn Ferry news, CEO Mark Arian sold 5,000 shares of Korn Ferry stock in a transaction on Monday, June 17th. The shares were sold at an average price of $66.01, for a total transaction of $330,050.00. Following the completion of the sale, the chief executive officer now owns 91,484 shares of the company’s stock, valued at approximately $6,038,858.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is currently owned by insiders.

Korn Ferry Price Performance

Shares of NYSE:KFY opened at $71.91 on Friday. The company has a market cap of $3.73 billion, a P/E ratio of 22.33 and a beta of 1.54. The company’s fifty day moving average is $69.75 and its two-hundred day moving average is $66.31. The company has a quick ratio of 1.83, a current ratio of 2.15 and a debt-to-equity ratio of 0.23. Korn Ferry has a 12-month low of $44.45 and a 12-month high of $75.30.

Korn Ferry (NYSE:KFY) last posted its quarterly earnings results on Thursday, September 5th. The business services provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.06. Korn Ferry had a return on equity of 13.73% and a net margin of 6.68%. The firm had revenue of $682.80 million for the quarter, compared to analyst estimates of $663.84 million. During the same period in the previous year, the firm earned $0.99 earnings per share. Korn Ferry’s quarterly revenue was down 3.3% on a year-over-year basis. Equities analysts expect that Korn Ferry will post 4.84 earnings per share for the current fiscal year.

Korn Ferry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, September 19th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Thursday, September 19th. Korn Ferry’s dividend payout ratio is currently 45.96%.

Wall Street Analysts Forecast Growth

KFY has been the topic of several research reports. UBS Group upped their price target on Korn Ferry from $66.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, June 7th. StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a report on Thursday, June 20th. Robert W. Baird increased their price target on Korn Ferry from $72.00 to $79.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Finally, Truist Financial restated a “buy” rating and set a $78.00 price objective (up previously from $74.00) on shares of Korn Ferry in a report on Friday, June 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $75.00.

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.