Truist Financial Reiterates “Buy” Rating for Korn Ferry (NYSE:KFY)

Truist Financial reiterated their buy rating on shares of Korn Ferry (NYSE:KFY) in a research report report published on Friday, Benzinga reports. Truist Financial currently has a $78.00 price objective on the business services provider’s stock, up from their prior price objective of $74.00.

A number of other equities research analysts have also recently issued reports on the stock. UBS Group upped their price objective on shares of Korn Ferry from $66.00 to $68.00 and gave the company a neutral rating in a research note on Friday, June 7th. StockNews.com lowered shares of Korn Ferry from a buy rating to a hold rating in a report on Wednesday, June 12th. Robert W. Baird upped their price target on Korn Ferry from $72.00 to $79.00 and gave the company an outperform rating in a research report on Friday. Finally, William Blair raised Korn Ferry from a market perform rating to an outperform rating in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $75.00.

Korn Ferry Price Performance

KFY stock opened at $66.10 on Friday. The firm has a 50 day simple moving average of $63.85 and a two-hundred day simple moving average of $61.11. The stock has a market cap of $3.47 billion, a PE ratio of 20.53 and a beta of 1.48. Korn Ferry has a one year low of $44.45 and a one year high of $70.78. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.79 and a quick ratio of 1.83.

Korn Ferry (NYSE:KFY) last released its earnings results on Thursday, June 13th. The business services provider reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.13. The business had revenue of $690.80 million for the quarter, compared to analysts’ expectations of $687.36 million. Korn Ferry had a return on equity of 13.18% and a net margin of 6.05%. The firm’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 earnings per share. On average, analysts predict that Korn Ferry will post 4.86 EPS for the current fiscal year.

Korn Ferry Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 3rd will be given a $0.37 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $1.48 annualized dividend and a dividend yield of 2.24%. This is a positive change from Korn Ferry’s previous quarterly dividend of $0.33. Korn Ferry’s dividend payout ratio is currently 40.99%.

Institutional Investors Weigh In On Korn Ferry

Several hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new position in Korn Ferry during the fourth quarter valued at $36,347,000. Wedge Capital Management L L P NC grew its holdings in 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 worth $5,756,000 after purchasing an additional 21,910 shares during the period. Circumference Group LLC purchased a new position in shares of Korn Ferry during the fourth quarter valued at approximately $2,131,000. Charles Schwab Investment Management Inc. boosted its position in shares of Korn Ferry by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 719,462 shares of the business services provider’s stock worth $42,700,000 after purchasing an additional 35,985 shares in the last quarter. Finally, Pzena Investment Management LLC bought a new position in Korn Ferry during the 4th quarter valued at approximately $53,304,000. 98.82% of the stock is currently owned by 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.