California Public Employees Retirement System lessened its stake in Korn Ferry (NYSE:KFY) by 10.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 87,309 shares of the business services provider’s stock after selling 10,304 shares during the period. California Public Employees Retirement System owned about 0.15% of Korn Ferry worth $3,613,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of KFY. Teacher Retirement System of Texas acquired a new position in shares of Korn Ferry in the fourth quarter worth $780,000. Price Capital Management Inc. acquired a new position in shares of Korn Ferry in the fourth quarter worth $3,190,000. Meeder Asset Management Inc. acquired a new position in shares of Korn Ferry in the fourth quarter worth $246,000. Algert Global LLC acquired a new position in shares of Korn Ferry in the fourth quarter worth $1,419,000. Finally, LSV Asset Management grew its stake in shares of Korn Ferry by 32.1% in the fourth quarter. LSV Asset Management now owns 17,300 shares of the business services provider’s stock worth $715,000 after acquiring an additional 4,200 shares in the last quarter. Hedge funds and other institutional investors own 88.61% of the company’s stock.
In other news, Director Angel R. Martinez acquired 2,000 shares of the firm’s stock in a transaction dated Friday, March 23rd. The stock was acquired at an average cost of $50.30 per share, with a total value of $100,600.00. Following the transaction, the director now owns 5,030 shares in the company, valued at $253,009. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Debra J. Perry sold 19,480 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $50.21, for a total transaction of $978,090.80. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by insiders.
Several equities analysts have commented on the stock. Goldman Sachs assumed coverage on shares of Korn Ferry in a research note on Tuesday, March 27th. They issued a “buy” rating for the company. Zacks Investment Research upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Friday, March 9th. Finally, ValuEngine upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $43.80.
Shares of Korn Ferry stock traded down $1.55 during trading on Friday, hitting $51.20. 565,983 shares of the stock were exchanged, compared to its average volume of 530,006. The stock has a market cap of $2,893.47, a P/E ratio of 22.86 and a beta of 1.21. Korn Ferry has a 12-month low of $29.93 and a 12-month high of $52.79. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.18.
Korn Ferry (NYSE:KFY) last released its quarterly earnings data on Tuesday, March 6th. The business services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.12. The business had revenue of $447.60 million during the quarter, compared to analysts’ expectations of $414.54 million. Korn Ferry had a net margin of 6.83% and a return on equity of 12.72%. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS. sell-side analysts forecast that Korn Ferry will post 2.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Monday, March 26th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, March 23rd. This represents a $0.40 annualized dividend and a dividend yield of 0.78%. Korn Ferry’s dividend payout ratio (DPR) is currently 17.86%.
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Korn Ferry Company Profile
Korn/Ferry International, together with its subsidiaries, provides talent management solutions worldwide. It operates through three segments: Executive Search, Hay Group, and Futurestep. The company provides executive recruitment services that are used to fill executive-level positions, such as board directors, chief executive officers, chief financial officers, chief operating officers, chief information officers, chief human resource officers, and other senior executive officers for clients in the consumer, financial services, industrial, life sciences/healthcare provider, technology, and educational/not-for-profit industries.
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