How to apply adobe icc profiles to an image using imagemagick

I am trying to convert a rgb image to cmyk using profiles I downloaded from the adobe website.

The command I am using is as follow:

convert Playbook.jpg -profile CoatedFOGRA27.icc cmyk_playbook.jpg

When I try to open the output image on photoshop, I get a error that it's impossible to use the ICC profile incorporated, because the profile ICC is incorrect. The profile will be ignored.

When I check the -verbose of the image using the identity command I get the colorspace as sRGB. I could see that the color profiles were added to the image. But I don't understand how adobe ps does it differently. Adding a -colorspace CMYK will change the colorspace from -sRGB to CMYK, but the results are not good. The colors in the output are not even close to the real input.

C:\test\profile>magick identify -verbose cmyk_playbook.jpg
Image: cmyk_playbook.jpg
Format: JPEG (Joint Photographic Experts Group JFIF format)
Mime type: image/jpeg
Class: DirectClass
Geometry: 969x301+0+0
Resolution: 72x72
Print size: 13.4583x4.18056
Units: PixelsPerInch
Type: TrueColor
Endianess: Undefined
**Colorspace: sRGB**
icc:copyright: Copyright 2004-2007 Adobe Systems Incorporated
icc:description: Coated FOGRA27 (ISO 12647-2:2004)
icc:manufacturer: Coated FOGRA27 (ISO 12647-2:2004)
icc:model: Coated FOGRA27 (ISO 12647-2:2004)

I'm new to icc profiles and any help would be appreciated. Please let me know if you need any info regarding the test done here. I am referring to a imagemagick usage guide for my tests imagemagick color profile

EDIT 2 As per Fred's comments, I had better results when I modified imagemagick string to (referred from the imagemagick profile's section)

magick convert Playbook.jpg -profile AdobeRGB1998.icc -profile CoatedFOGRA39.icc cmyk_playbook.jpg

-verbose of output image at link https://textuploader.com/dvbyp

EDIT 3 Verbose of the input image

> C:\test\profile>magick identify -verbose Playbook.jpg
Image: Playbook.jpg
  Format: JPEG (Joint Photographic Experts Group JFIF format)
  Mime type: image/jpeg
  Class: DirectClass
  Geometry: 969x301+0+0
  Resolution: 72x72
  Print size: 13.4583x4.18056
  Units: PixelsPerInch
  Type: TrueColor
  Endianess: Undefined
  Colorspace: sRGB
  Depth: 8-bit
  Channel depth:
    Red: 8-bit
    Green: 8-bit
    Blue: 8-bit
  Channel statistics:
    Pixels: 291669
    Red:
      min: 0 (0)
      max: 255 (1)
      mean: 194.392 (0.762322)
      standard deviation: 83.2222 (0.326362)
      kurtosis: 0.704344
      skewness: -1.52406
      entropy: 0.788734
    Green:
      min: 0 (0)
      max: 255 (1)
      mean: 212.207 (0.832184)
      standard deviation: 48.3621 (0.189655)
      kurtosis: 1.86417
      skewness: -1.56849
      entropy: 0.805723
    Blue:
      min: 0 (0)
      max: 255 (1)
      mean: 212.778 (0.834423)
      standard deviation: 50.177 (0.196772)
      kurtosis: 2.14027
      skewness: -1.61153
      entropy: 0.817837
  Image statistics:
    Overall:
      min: 0 (0)
      max: 255 (1)
      mean: 206.459 (0.809643)
      standard deviation: 63.2485 (0.248033)
      kurtosis: 2.77398
      skewness: -1.87528
      entropy: 0.804098
  Rendering intent: Perceptual
  Gamma: 0.454545
  Chromaticity:
    red primary: (0.64,0.33)
    green primary: (0.3,0.6)
    blue primary: (0.15,0.06)
    white point: (0.3127,0.329)
  Matte color: grey74
  Background color: white
  Border color: srgb(223,223,223)
  Transparent color: none
  Interlace: None
  Intensity: Undefined
  Compose: Over
  Page geometry: 969x301+0+0
  Dispose: Undefined
  Iterations: 0
  Compression: JPEG
  Quality: 99
  Orientation: TopLeft
  Properties:
    date:create: 2018-09-24T13:58:23+02:00
    date:modify: 2018-09-07T12:10:45+02:00
    exif:ColorSpace: 65535
    exif:DateTime: 2018:05:22 10:58:52
    exif:ExifImageLength: 301
    exif:ExifImageWidth: 969
    exif:ExifOffset: 168
    exif:Orientation: 1
    exif:ResolutionUnit: 2
    exif:Software: Adobe Photoshop CC (Macintosh)
    exif:thumbnail:Compression: 6
    exif:thumbnail:JPEGInterchangeFormat: 306
    exif:thumbnail:JPEGInterchangeFormatLength: 3377
    exif:thumbnail:ResolutionUnit: 2
    exif:thumbnail:XResolution: 72/1
    exif:thumbnail:YResolution: 72/1
    exif:XResolution: 720000/10000
    exif:YResolution: 720000/10000
    jpeg:colorspace: 2
    jpeg:sampling-factor: 1x1,1x1,1x1
    signature: ca4b1e91d7efa6044dca943ef7bd15b562190d821b86ce25ad55f3150100150e
  Clipping path:
<?xml version="1.0" encoding="iso-8859-1"?>
<svg xmlns="http://www.w3.org/2000/svg" width="969" height="301">
<g>
<path fill-rule="evenodd" style="fill:#00000000;stroke:#00000000;stroke-width:0;
stroke-antialiasing:false" d="
M 342 56
L 363 56
L 438 55
L 452 52
L 475 49
L 491 46
L 510 39
L 526 33
L 544 26
L 554 18
C 554 18 557.982 -3.60937 556 -6.00001
C 554.018 -8.39063 527.42 -31.6426 525 -32
C 522.58 -32.3574 455.445 -39.2773 450 -39
C 444.555 -38.7226 388.031 -37.0664 386 -36
C 383.969 -34.9336 345.721 -11.0879 344 -8
C 342.279 -4.9121 332.74 22.6133 333 26
C 333.26 29.3867 342 56 342 56 Z
"/>
</g>
</svg>

  Profiles:
    Profile-8bim: 11730 bytes
    Profile-exif: 3689 bytes
    Profile-iptc: 95 bytes
      City[1,90]: 0x00000000: 254700                                        -%
      City[1,90]: 0x00000000: 254700                                        -%
      City[1,90]: 0x00000000: 254700                                        -%
      City[1,90]: 0x00000000: 254700                                        -%
      City[1,90]: 0x00000000: 254700                                        -%
      City[1,90]: 0x00000000: 254700                                        -%
      City[1,90]: 0x00000000: 254700                                        -%
      City[1,90]: 0x00000000: 254700                                        -%
      City[1,90]: 0x00000000: 254700                                        -%
      City[1,90]: 0x00000000: 254700                                        -%
      City[1,90]: 0x00000000: 254700                                        -%
      unknown[2,0]:
    Profile-xmp: 1241722 bytes
  Artifacts:
    verbose: true
  Tainted: False
  Filesize: 1.458MB
  Number pixels: 292K
  Pixels per second: 4.704MB
  User time: 0.047u
  Elapsed time: 0:01.062
  Version: ImageMagick 7.0.5-4 Q16 x64 2017-03-25 http://www.imagemagick.org