Public Sector Pension Investment Board Raises Stock Holdings in Korn Ferry (NYSE:KFY)

Public Sector Pension Investment Board boosted its position in Korn Ferry (NYSE:KFY) by 6.6% in the second quarter, Holdings Channel.com reports. The firm owned 114,849 shares of the business services provider’s stock after buying an additional 7,153 shares during the quarter. Public Sector Pension Investment Board’s holdings in Korn Ferry were worth $7,711,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KFY. Thrivent Financial for Lutherans increased its stake in shares of Korn Ferry by 1,846.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 886,993 shares of the business services provider’s stock worth $59,553,000 after acquiring an additional 841,413 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Korn Ferry during the first quarter valued at approximately $52,948,000. Norges Bank purchased a new position in shares of Korn Ferry during the fourth quarter valued at approximately $36,347,000. Artemis Investment Management LLP bought a new stake in shares of Korn Ferry in the 2nd quarter worth approximately $28,590,000. Finally, Pzena Investment Management LLC grew its stake in shares of Korn Ferry by 24.6% in the 1st quarter. Pzena Investment Management LLC now owns 1,118,694 shares of the business services provider’s stock worth $73,565,000 after buying an additional 220,564 shares during the last quarter. Hedge funds and other institutional investors own 98.82% of the company’s stock.

Insiders Place Their Bets

In other news, insider Michael Distefano sold 5,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 50,954 shares of the company’s stock, valued at approximately $3,687,031.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Korn Ferry news, CFO Robert P. Rozek sold 20,921 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 154,535 shares in the company, valued at approximately $11,672,028.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction, the insider now owns 50,954 shares in the company, valued at approximately $3,687,031.44. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Korn Ferry Stock Down 0.2 %

KFY stock opened at $73.72 on Wednesday. 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 has a 1-year low of $44.45 and a 1-year high of $76.63. The stock has a market capitalization of $3.82 billion, a P/E ratio of 22.89 and a beta of 1.54. The business has a fifty day moving average price of $70.72 and a 200-day moving average price of $66.83.

Korn Ferry (NYSE:KFY) last issued its earnings results on Thursday, September 5th. The business services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.06. The business 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%. During the same quarter in the previous year, the firm earned $0.99 EPS. Korn Ferry’s revenue was down 3.3% on a year-over-year basis. Equities analysts forecast that Korn Ferry will post 4.84 earnings per share for the current fiscal year.

Korn Ferry Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Thursday, September 19th. Korn Ferry’s dividend payout ratio (DPR) is presently 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.