State of New Jersey Common Pension Fund D Increases Position in Korn Ferry (NYSE:KFY)

State of New Jersey Common Pension Fund D grew its holdings in shares of Korn Ferry (NYSE:KFY) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,778 shares of the business services provider’s stock after buying an additional 343 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.05% of Korn Ferry worth $1,874,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its position in Korn Ferry by 2.0% in the 3rd quarter. State Street Corp now owns 2,069,906 shares of the business services provider’s stock valued at $156,503,000 after acquiring an additional 40,240 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Korn Ferry during the third quarter valued at $103,546,000. Geode Capital Management LLC grew its holdings in shares of 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 worth $91,587,000 after purchasing an additional 28,014 shares during the last quarter. Jennison Associates LLC increased its stake in Korn Ferry by 8.1% in the 4th quarter. Jennison Associates LLC now owns 1,067,813 shares of the business services provider’s stock worth $72,024,000 after buying an additional 79,808 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in Korn Ferry by 7.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 949,378 shares of the business services provider’s stock valued at $71,431,000 after buying an additional 62,385 shares in the last quarter. 98.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Korn Ferry

In other news, CEO Mark Arian sold 20,000 shares of Korn Ferry stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $72.24, for a total value of $1,444,800.00. Following the transaction, the chief executive officer now owns 68,869 shares of the company’s stock, valued at $4,975,096.56. The trade was a 22.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.

Korn Ferry Stock Up 1.1 %

Shares of Korn Ferry stock opened at $65.10 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 13.91 and a beta of 1.57. The firm’s 50-day moving average is $68.11 and its two-hundred day moving average is $71.12. Korn Ferry has a 1 year low of $59.12 and a 1 year high of $80.64.

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

Korn Ferry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.27%. Korn Ferry’s dividend payout ratio is presently 31.62%.

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.