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

State of New Jersey Common Pension Fund D decreased its position in shares of Korn Ferry (NYSE:KFY) by 3.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 27,435 shares of the business services provider’s stock after selling 994 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Korn Ferry were worth $2,064,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in 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 worth $29,000 after acquiring an additional 205 shares in the last quarter. CWM LLC boosted its position in shares of Korn Ferry by 97.3% in the 2nd quarter. CWM LLC now owns 890 shares of the business services provider’s stock worth $60,000 after purchasing an additional 439 shares in the last quarter. Quarry LP grew its stake in shares of Korn Ferry by 149.1% in the 2nd quarter. Quarry LP now owns 1,380 shares of the business services provider’s stock worth $93,000 after buying an additional 826 shares during the last quarter. GAMMA Investing LLC raised its stake in Korn Ferry by 28.2% during the second quarter. GAMMA Investing LLC now owns 1,392 shares of the business services provider’s stock valued at $93,000 after buying an additional 306 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in Korn Ferry in the second quarter worth $101,000. Hedge funds and other institutional investors own 98.82% of the company’s stock.

Korn Ferry Price Performance

KFY opened at $75.23 on Friday. Korn Ferry has a 1 year low of $49.95 and a 1 year high of $80.64. The stock has a 50-day moving average price of $72.82 and a 200-day moving average price of $69.35. The firm has a market cap of $3.91 billion, a PE ratio of 21.49 and a beta of 1.55. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.15 and a quick ratio of 2.15.

Korn Ferry (NYSE:KFY) last posted its quarterly earnings results on Thursday, September 5th. The business services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.06. Korn Ferry had a net margin of 6.68% and a return on equity of 13.73%. The firm had revenue of $682.80 million for the quarter, compared to analysts’ expectations of $663.84 million. During the same quarter in the prior year, the company posted $0.99 earnings per share. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. Sell-side analysts predict that Korn Ferry will post 4.84 earnings per share for the current fiscal year.

Korn Ferry Announces Dividend

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

Insider Activity

In other news, CFO Robert P. Rozek sold 20,921 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $75.53, for a total value of $1,580,163.13. Following the transaction, the chief financial officer now directly owns 154,535 shares in the company, valued at $11,672,028.55. This trade represents a 11.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael Distefano sold 5,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $72.36, for a total value of $361,800.00. Following the sale, the insider now owns 50,954 shares of the company’s stock, valued at approximately $3,687,031.44. This trade represents a 8.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,201 shares of company stock valued at $6,329,320 over the last ninety days. 1.40% of the stock is currently owned by corporate 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.