Teacher Retirement System of Texas Sells 54,772 Shares of Korn Ferry (NYSE:KFY)

Teacher Retirement System of Texas lowered its position in shares of Korn Ferry (NYSE:KFY) by 48.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,319 shares of the business services provider’s stock after selling 54,772 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.11% of Korn Ferry worth $3,866,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in Korn Ferry by 193.9% in the third quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider’s stock worth $32,050,000 after purchasing an additional 281,024 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Korn Ferry by 19.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,133,548 shares of the business services provider’s stock valued at $76,458,000 after purchasing an additional 184,170 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Korn Ferry during the 4th quarter worth approximately $10,727,000. Barclays PLC raised its stake in shares of Korn Ferry by 129.0% during the third quarter. Barclays PLC now owns 239,937 shares of the business services provider’s stock worth $18,053,000 after buying an additional 135,148 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Korn Ferry by 14.2% in the fourth quarter. Allianz Asset Management GmbH now owns 753,414 shares of the business services provider’s stock valued at $50,818,000 after buying an additional 93,591 shares during the period. Institutional investors and hedge funds own 98.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. StockNews.com raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a report on Tuesday, December 17th. Truist Financial upped their price objective on Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, December 6th.

Korn Ferry Price Performance

Shares of KFY stock opened at $68.28 on Tuesday. 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 12-month low of $59.78 and a 12-month high of $80.64. The firm has a fifty day moving average of $67.62 and a 200-day moving average of $70.50. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 14.59 and a beta of 1.57.

Korn Ferry (NYSE:KFY) last announced its quarterly earnings results on Tuesday, March 11th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.06. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The company had revenue of $676.50 million during the quarter, compared to the consensus estimate of $650.45 million. During the same period in the prior year, the company earned $1.07 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities research analysts forecast that Korn Ferry will post 4.75 earnings per share for the current year.

Korn Ferry Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Thursday, March 27th will be given a dividend of $0.48 per share. This is an increase from Korn Ferry’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.92 annualized dividend and a dividend yield of 2.81%. Korn Ferry’s dividend payout ratio is currently 41.29%.

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.