Korn Ferry (NYSE:KFY) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its stake in shares of Korn Ferry (NYSE:KFY) by 41.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,429 shares of the business services provider’s stock after selling 19,728 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.05% of Korn Ferry worth $1,909,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Quest Partners LLC acquired a new stake in shares of Korn Ferry during the fourth quarter worth $29,000. CWM LLC lifted its stake in shares of Korn Ferry by 97.3% in the 2nd quarter. CWM LLC now owns 890 shares of the business services provider’s stock worth $60,000 after acquiring an additional 439 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Korn Ferry by 90.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,060 shares of the business services provider’s stock valued at $63,000 after acquiring an additional 503 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Korn Ferry by 40.1% during the first quarter. GAMMA Investing LLC now owns 1,086 shares of the business services provider’s stock worth $71,000 after acquiring an additional 311 shares during the period. Finally, Innealta Capital LLC purchased a new position in Korn Ferry during the second quarter worth about $101,000. 98.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Robert W. Baird lifted their price objective on Korn Ferry from $72.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Truist Financial reaffirmed 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. StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a report on Thursday, June 20th. Finally, UBS Group upped their price target 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.00.

Korn Ferry Stock Performance

NYSE KFY opened at $74.81 on Friday. The business has a 50 day moving average price of $70.55 and a 200 day moving average price of $66.70. The company has a market capitalization of $3.88 billion, a P/E ratio of 23.23 and a beta of 1.54. Korn Ferry has a 1-year low of $44.45 and a 1-year high of $76.63. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.15 and a quick ratio of 1.83.

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

Korn Ferry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, September 19th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, September 19th. Korn Ferry’s dividend payout ratio (DPR) is presently 45.96%.

Insider Activity

In related news, CFO Robert P. Rozek sold 20,921 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $75.53, for a total value of $1,580,163.13. Following the sale, the chief financial officer now owns 154,535 shares of the company’s stock, valued at approximately $11,672,028.55. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.50% of the company’s stock.

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.