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

State of New Jersey Common Pension Fund D lessened its stake in shares of Korn Ferry (NYSE:KFY) by 3.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,435 shares of the business services provider’s stock after selling 994 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.05% of Korn Ferry worth $2,064,000 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. EverSource Wealth Advisors LLC boosted its stake in Korn Ferry by 112.0% during the second quarter. EverSource Wealth Advisors LLC now owns 388 shares of the business services provider’s stock valued at $29,000 after buying an additional 205 shares during the period. CWM LLC increased its position in shares of Korn Ferry by 97.3% in the second quarter. CWM LLC now owns 890 shares of the business services provider’s stock worth $60,000 after purchasing an additional 439 shares during the last quarter. GAMMA Investing LLC raised its stake in Korn Ferry by 28.2% in the second quarter. GAMMA Investing LLC now owns 1,392 shares of the business services provider’s stock valued at $93,000 after purchasing an additional 306 shares in the last quarter. Quarry LP lifted its position in Korn Ferry by 149.1% during the second quarter. Quarry LP now owns 1,380 shares of the business services provider’s stock valued at $93,000 after purchasing an additional 826 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in Korn Ferry in the 2nd quarter worth approximately $101,000. 98.82% of the stock is currently owned by institutional investors.

Insider Activity at Korn Ferry

In other news, insider Michael Distefano sold 5,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $72.36, for a total transaction of $361,800.00. Following the completion of the sale, the insider now owns 50,954 shares of the company’s stock, valued at approximately $3,687,031.44. This represents a 8.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert P. Rozek sold 20,921 shares of Korn Ferry stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $75.53, for a total transaction of $1,580,163.13. Following the completion of the transaction, the chief financial officer now directly owns 154,535 shares in the company, valued at approximately $11,672,028.55. The trade was a 11.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,201 shares of company stock valued at $6,329,320. Insiders own 1.40% of the company’s stock.

Korn Ferry Stock Performance

Korn Ferry stock opened at $75.23 on Friday. Korn Ferry has a fifty-two week low of $49.95 and a fifty-two week high of $80.64. The firm’s fifty day moving average price is $72.82 and its 200-day moving average price is $69.35. The stock has a market cap of $3.91 billion, a P/E ratio of 21.49 and a beta of 1.55. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.15 and a current ratio of 2.15.

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

Korn Ferry Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, September 19th were paid a $0.37 dividend. The ex-dividend date was Thursday, September 19th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.97%. Korn Ferry’s dividend payout ratio (DPR) is 42.29%.

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.