Korn Ferry Declares Quarterly Dividend of $0.37 (NYSE:KFY)

Korn Ferry (NYSE:KFY) announced a quarterly dividend on Friday, December 6th,Wall Street Journal reports. Shareholders of record on Friday, December 20th will be paid a dividend of 0.37 per share by the business services provider on Wednesday, January 15th. This represents a $1.48 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, December 20th.

Korn Ferry has raised its dividend payment by an average of 28.1% annually over the last three years. Korn Ferry has a dividend payout ratio of 27.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Korn Ferry to earn $5.40 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 27.4%.

Korn Ferry Stock Performance

Shares of NYSE KFY traded down $0.52 during trading hours on Friday, reaching $71.56. 569,658 shares of the stock were exchanged, compared to its average volume of 352,937. Korn Ferry has a 52 week low of $52.06 and a 52 week high of $80.64. The stock’s fifty day simple moving average is $74.22 and its 200 day simple moving average is $70.65. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 20.71 and a beta of 1.56. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.15 and a current ratio of 2.15.

Korn Ferry (NYSE:KFY) last released its earnings results on Thursday, December 5th. The business services provider reported $1.21 EPS for the quarter, meeting the consensus estimate of $1.21. Korn Ferry had a net margin of 6.68% and a return on equity of 13.73%. The firm had revenue of $682.00 million for the quarter, compared to analyst estimates of $675.35 million. During the same period last year, the firm earned $0.97 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. Sell-side analysts predict that Korn Ferry will post 4.84 EPS for the current year.

Insider Activity

In other Korn Ferry news, CEO Gary D. Burnison sold 16,274 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $74.05, for a total value of $1,205,089.70. Following the completion of the transaction, the chief executive officer now owns 356,844 shares in the company, valued at $26,424,298.20. This represents a 4.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Distefano sold 5,000 shares of Korn Ferry stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $72.36, for a total transaction of $361,800.00. Following the completion of the sale, the insider now directly owns 50,954 shares in the company, valued at $3,687,031.44. This trade represents a 8.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,201 shares of company stock worth $6,329,320. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial lifted their price target on shares of Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.00.

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.