Texas Permanent School Fund Corp Has $4.11 Million Stock Holdings in Korn Ferry (NYSE:KFY)

Texas Permanent School Fund Corp lifted its holdings in shares of Korn Ferry (NYSE:KFY) by 33.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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’s holdings in Korn Ferry were worth $4,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. M&T Bank Corp bought a new position in Korn Ferry during the fourth quarter valued at about $238,000. Charles Schwab Investment Management Inc. raised 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 valued at $42,700,000 after acquiring an additional 35,985 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Korn Ferry by 107.1% in the 4th quarter. Teacher Retirement System of Texas now owns 14,263 shares of the business services provider’s stock worth $847,000 after purchasing an additional 7,375 shares during the last quarter. Jump Financial LLC bought a new stake in Korn Ferry during the fourth quarter worth approximately $220,000. Finally, QRG Capital Management Inc. grew its holdings in Korn Ferry by 4.7% during the fourth quarter. QRG Capital Management Inc. now owns 12,792 shares of the business services provider’s stock valued at $759,000 after purchasing an additional 580 shares during the last quarter. Institutional investors own 98.82% of the company’s stock.

Korn Ferry Price Performance

Shares of Korn Ferry stock opened at $71.91 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.15 and a quick ratio of 1.83. The company has a market cap of $3.73 billion, a PE ratio of 22.33 and a beta of 1.54. The firm has a fifty day moving average price of $69.75 and a two-hundred day moving average price of $66.31. Korn Ferry has a fifty-two week low of $44.45 and a fifty-two week high of $75.30.

Korn Ferry (NYSE:KFY) last released its 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 net margin of 6.68% and a return on equity of 13.73%. 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 company earned $0.99 earnings per share. The firm’s revenue was down 3.3% on a year-over-year basis. Analysts expect that Korn Ferry will post 4.84 EPS for the current year.

Korn Ferry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Thursday, September 19th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Thursday, September 19th. Korn Ferry’s dividend payout ratio is presently 45.96%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on KFY. StockNews.com upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating in a research note on Thursday, June 20th. Truist Financial restated a “buy” rating and set a $78.00 price target (up from $74.00) on shares of Korn Ferry in a report on Friday, June 14th. Robert W. Baird lifted their price objective on Korn Ferry from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. Finally, UBS Group increased their target price on Korn Ferry from $66.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

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 sale, the chief executive officer now owns 91,484 shares in the company, valued at $6,038,858.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by corporate insiders.

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.