Louisiana State Employees Retirement System Makes New Investment in Korn Ferry (NYSE:KFY)

Louisiana State Employees Retirement System bought a new position in Korn Ferry (NYSE:KFY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 26,400 shares of the business services provider’s stock, valued at approximately $1,567,000. Louisiana State Employees Retirement System owned 0.05% of Korn Ferry at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in KFY. Belpointe Asset Management LLC lifted its position in shares of Korn Ferry by 181.8% in the first quarter. Belpointe Asset Management LLC now owns 775 shares of the business services provider’s stock worth $40,000 after purchasing an additional 500 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Korn Ferry in the third quarter worth approximately $52,000. Rockefeller Capital Management L.P. lifted its position in shares of Korn Ferry by 22.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,132 shares of the business services provider’s stock worth $57,000 after purchasing an additional 207 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Korn Ferry by 55.2% in the first quarter. Advisors Asset Management Inc. now owns 945 shares of the business services provider’s stock worth $61,000 after purchasing an additional 336 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Korn Ferry by 22.6% in the first quarter. Lazard Asset Management LLC now owns 1,695 shares of the business services provider’s stock worth $110,000 after purchasing an additional 313 shares in the last quarter. 98.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KFY has been the subject of a number of research analyst reports. William Blair raised shares of Korn Ferry from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 29th. Truist Financial raised their price objective on shares of Korn Ferry from $64.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Robert W. Baird raised their price objective on shares of Korn Ferry from $62.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. UBS Group raised their price objective on shares of Korn Ferry from $55.00 to $63.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Finally, StockNews.com raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Korn Ferry Trading Up 2.2 %

NYSE:KFY opened at $61.29 on Friday. Korn Ferry has a 12 month low of $44.45 and a 12 month high of $69.69. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 21.21 and a beta of 1.47. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $62.68 and its 200-day moving average is $56.51.

Korn Ferry (NYSE:KFY) last released its quarterly earnings results on Wednesday, March 6th. The business services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. Korn Ferry had a net margin of 5.34% and a return on equity of 12.59%. The company had revenue of $676.80 million for the quarter, compared to analyst estimates of $657.91 million. During the same quarter last year, the firm posted $1.01 earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities analysts anticipate that Korn Ferry will post 4.17 EPS for the current year.

Korn Ferry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, March 27th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Tuesday, March 26th. Korn Ferry’s dividend payout ratio is 45.67%.

Insider Activity

In other news, Director Jerry Leamon sold 10,000 shares of Korn Ferry stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $65.80, for a total value of $658,000.00. Following the transaction, the director now owns 16,802 shares of the company’s stock, valued at $1,105,571.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

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.