Korn Ferry (NYSE:KFY) Price Target Lowered to $80.00 at Truist Financial

Korn Ferry (NYSE:KFY) had its price objective cut by Truist Financial from $84.00 to $80.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Separately, StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a research note on Tuesday, December 17th.

Korn Ferry Trading Down 3.3 %

NYSE KFY opened at $62.33 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 52 week low of $59.44 and a 52 week high of $80.64. The business has a 50 day moving average price of $65.68 and a 200-day moving average price of $69.63. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 13.32 and a beta of 1.40.

Korn Ferry (NYSE:KFY) last announced its quarterly earnings results on Tuesday, March 11th. The business services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.06. The business had revenue of $676.50 million during the quarter, compared to analyst estimates of $650.45 million. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. Korn Ferry’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.07 EPS. As a group, equities analysts expect that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Thursday, March 27th were given a dividend of $0.48 per share. This is a positive change from Korn Ferry’s previous quarterly dividend of $0.37. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Thursday, March 27th. Korn Ferry’s dividend payout ratio (DPR) is presently 41.29%.

Institutional Investors Weigh In On Korn Ferry

Institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in shares of Korn Ferry by 5.6% in the 4th quarter. Invesco Ltd. now owns 1,840,784 shares of the business services provider’s stock worth $124,161,000 after buying an additional 97,811 shares during the last quarter. Geode Capital Management LLC boosted its position in Korn Ferry by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,217,031 shares of the business services provider’s stock worth $91,587,000 after purchasing an additional 28,014 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in 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 period. Jennison Associates LLC grew its stake in Korn Ferry by 8.1% in the 4th quarter. Jennison Associates LLC now owns 1,067,813 shares of the business services provider’s stock valued at $72,024,000 after purchasing an additional 79,808 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Korn Ferry by 11.5% during the 4th quarter. Victory Capital Management Inc. now owns 888,776 shares of the business services provider’s stock valued at $59,948,000 after purchasing an additional 91,461 shares during the last quarter. 98.82% of the stock is owned by institutional investors.

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.