State of New Jersey Common Pension Fund D Lowers Stock Holdings in Korn Ferry (NYSE:KFY)

State of New Jersey Common Pension Fund D lessened its holdings in shares of Korn Ferry (NYSE:KFY) by 41.0% during the second quarter, according to the company in its most recent filing with the Securities & 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’s holdings in Korn Ferry were worth $1,909,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in Korn Ferry in the fourth quarter valued at $36,347,000. Circumference Group LLC acquired a new position in shares of Korn Ferry during the 4th quarter valued at about $2,131,000. Janus Henderson Group PLC lifted its holdings in shares of Korn Ferry by 161.5% during the 1st quarter. Janus Henderson Group PLC now owns 67,064 shares of the business services provider’s stock worth $4,409,000 after acquiring an additional 41,416 shares during the period. UniSuper Management Pty Ltd acquired a new stake in shares of Korn Ferry in the first quarter worth approximately $815,000. Finally, Diversify Advisory Services LLC purchased a new stake in Korn Ferry in the second quarter valued at approximately $1,158,000. Institutional investors and hedge funds own 98.82% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, CFO Robert P. Rozek sold 20,921 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $75.53, for a total value 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 $11,672,028.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.50% of the company’s stock.

Korn Ferry Stock Performance

NYSE:KFY opened at $74.81 on Friday. The firm’s fifty day simple moving average is $70.55 and its 200 day simple moving average is $66.70. The company has a current ratio of 2.15, a quick ratio of 1.83 and a debt-to-equity ratio of 0.23. Korn Ferry has a twelve month low of $44.45 and a twelve month high of $76.63. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 23.23 and a beta of 1.54.

Korn Ferry (NYSE:KFY) last issued its quarterly earnings data on Thursday, September 5th. The business services provider reported $1.18 EPS for the quarter, topping 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 company had revenue of $682.80 million for the quarter, compared to analysts’ expectations of $663.84 million. During the same quarter in the previous year, the firm posted $0.99 earnings per share. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, equities research analysts expect that Korn Ferry will post 4.84 earnings per share for the current fiscal year.

Korn Ferry Dividend Announcement

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

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.