New York State Teachers Retirement System Sells 1,394 Shares of Korn Ferry (NYSE:KFY)

New York State Teachers Retirement System cut its position in shares of Korn Ferry (NYSE:KFY) by 1.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 90,722 shares of the business services provider’s stock after selling 1,394 shares during the period. New York State Teachers Retirement System’s holdings in Korn Ferry were worth $6,119,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in Korn Ferry by 1,083.4% during the third quarter. Blue Trust Inc. now owns 2,213 shares of the business services provider’s stock valued at $167,000 after buying an additional 2,026 shares during the last quarter. CWM LLC lifted its stake in shares of Korn Ferry by 153.9% in the 3rd quarter. CWM LLC now owns 2,260 shares of the business services provider’s stock valued at $170,000 after purchasing an additional 1,370 shares during the last quarter. KBC Group NV lifted its stake in shares of Korn Ferry by 68.5% in the 4th quarter. KBC Group NV now owns 2,542 shares of the business services provider’s stock valued at $171,000 after purchasing an additional 1,033 shares during the last quarter. Glenmede Trust Co. NA bought a new stake in shares of Korn Ferry in the 3rd quarter valued at approximately $203,000. Finally, MML Investors Services LLC bought a new stake in shares of Korn Ferry in the 3rd quarter valued at approximately $209,000. 98.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on KFY shares. StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a research note on Tuesday, December 17th. Truist Financial raised their price objective on Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, December 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Korn Ferry Price Performance

Shares of Korn Ferry stock opened at $66.75 on Thursday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.22. Korn Ferry has a twelve month low of $57.91 and a twelve month high of $80.64. The business has a 50-day moving average price of $68.42 and a 200 day moving average price of $71.14. The firm has a market cap of $3.44 billion, a PE ratio of 14.26 and a beta of 1.57.

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, meeting the consensus estimate of $1.21. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The firm had revenue of $682.00 million during the quarter, compared to analyst estimates of $675.35 million. During the same quarter in the previous year, the business earned $0.97 EPS. Korn Ferry’s revenue for the quarter was down 4.3% compared to the same quarter last year. Sell-side analysts predict that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, December 20th. This represents a $1.48 annualized dividend and a yield of 2.22%. Korn Ferry’s dividend payout ratio (DPR) is currently 31.62%.

Insiders Place Their Bets

In other news, CEO Mark Arian sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $72.24, for a total transaction of $1,444,800.00. Following the transaction, the chief executive officer now directly owns 68,869 shares in the company, valued at $4,975,096.56. The trade was a 22.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is owned by company insiders.

About Korn Ferry

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.