Korn Ferry (KFY) To Go Ex-Dividend on September 21st

Korn Ferry (NYSE:KFY) declared a quarterly dividend on Wednesday, September 6th, Wall Street Journal reports. Shareholders of record on Friday, September 22nd will be given a dividend of 0.18 per share by the business services provider on Friday, October 13th. This represents a $0.72 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, September 21st.

Korn Ferry has increased its dividend by an average of 12.5% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Korn Ferry has a payout ratio of 16.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Korn Ferry to earn $4.27 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 16.9%.

Korn Ferry Stock Performance

NYSE KFY opened at $47.82 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.08 and a quick ratio of 2.08. Korn Ferry has a 1 year low of $44.69 and a 1 year high of $59.91. The company has a market capitalization of $2.52 billion, a PE ratio of 14.11 and a beta of 1.49. The company has a fifty day moving average of $51.54 and a two-hundred day moving average of $50.52.

Korn Ferry (NYSE:KFY) last released its quarterly earnings data on Thursday, September 7th. The business services provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.08. Korn Ferry had a net margin of 6.24% and a return on equity of 14.29%. The company had revenue of $699.20 million during the quarter, compared to the consensus estimate of $683.41 million. During the same quarter in the prior year, the firm posted $1.50 earnings per share. Korn Ferry’s revenue for the quarter was up .4% on a year-over-year basis. As a group, analysts expect that Korn Ferry will post 3.82 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC increased its holdings in Korn Ferry by 181.8% in the first quarter. Belpointe Asset Management LLC now owns 775 shares of the business services provider’s stock valued at $40,000 after buying an additional 500 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Korn Ferry by 55.2% in the first quarter. Advisors Asset Management Inc. now owns 945 shares of the business services provider’s stock valued at $61,000 after buying an additional 336 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in 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 valued at $57,000 after buying an additional 207 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Korn Ferry by 22.6% during the 1st 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. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Korn Ferry by 11.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,256 shares of the business services provider’s stock worth $112,000 after purchasing an additional 223 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on KFY shares. StockNews.com downgraded shares of Korn Ferry from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Truist Financial reiterated a “buy” rating and set a $65.00 target price on shares of Korn Ferry in a research note on Friday, July 14th. Finally, UBS Group started coverage on shares of Korn Ferry in a research report on Friday. They issued a “neutral” rating and a $53.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.25.

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.