Korn Ferry (NYSE:KFY) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Korn Ferry (NYSE:KFY) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Several other research analysts have also commented on KFY. Robert W. Baird boosted their price target on Korn Ferry from $62.00 to $70.00 and gave the stock an outperform rating in a research report on Thursday, March 7th. UBS Group boosted their price target on Korn Ferry from $66.00 to $68.00 and gave the stock a neutral rating in a research report on Friday, June 7th. William Blair raised Korn Ferry from a market perform rating to an outperform rating in a research report on Thursday, February 29th. Finally, Truist Financial boosted their price target on Korn Ferry from $64.00 to $74.00 and gave the stock a buy rating in a research report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $75.00.

Korn Ferry Trading Down 5.0 %

Shares of NYSE KFY opened at $66.76 on Wednesday. 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 business has a fifty day simple moving average of $63.78 and a two-hundred day simple moving average of $60.86. The firm has a market cap of $3.51 billion, a PE ratio of 23.10 and a beta of 1.48. Korn Ferry has a twelve month low of $44.45 and a twelve month high of $70.78.

Korn Ferry (NYSE:KFY) last issued its earnings results on Thursday, June 13th. The business services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.13. The business had revenue of $690.80 million during the quarter, compared to analyst estimates of $687.36 million. Korn Ferry had a return on equity of 12.59% and a net margin of 5.34%. Korn Ferry’s revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. Analysts expect that Korn Ferry will post 4.17 earnings per share for the current fiscal year.

Korn Ferry Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.22%. This is an increase from Korn Ferry’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, July 3rd. Korn Ferry’s payout ratio is 45.67%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Korn Ferry during the 4th quarter worth $36,347,000. Wedge Capital Management L L P NC increased its holdings in shares of Korn Ferry by 29.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 96,988 shares of the business services provider’s stock valued at $5,756,000 after purchasing an additional 21,910 shares during the period. Circumference Group LLC acquired a new position in shares of Korn Ferry in the fourth quarter valued at about $2,131,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Korn Ferry by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 719,462 shares of the business services provider’s stock valued at $42,700,000 after purchasing an additional 35,985 shares during the period. Finally, Pzena Investment Management LLC acquired a new position in shares of Korn Ferry in the fourth quarter valued at about $53,304,000. 98.82% of the stock is currently owned by hedge funds and other institutional investors.

Korn Ferry Company Profile

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.