Korn Ferry Announces Quarterly Dividend of $0.18 (NYSE:KFY)

Korn Ferry (NYSE:KFY) declared a quarterly dividend on Wednesday, September 6th, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Thursday, September 21st.

Korn Ferry has increased its dividend by an average of 12.5% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Korn Ferry has a dividend payout ratio of 16.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 1.6 %

NYSE KFY opened at $47.82 on Tuesday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.23. Korn Ferry has a 52 week low of $44.69 and a 52 week high of $59.91. The business has a 50 day moving average price of $51.54 and a 200-day moving average price of $50.52. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 14.11 and a beta of 1.49.

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

Institutional Trading of Korn Ferry

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in Korn Ferry by 0.3% in the first quarter. BlackRock Inc. now owns 8,381,765 shares of the business services provider’s stock worth $544,312,000 after purchasing an additional 28,155 shares during the last quarter. Vanguard Group Inc. boosted its position in Korn Ferry by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 6,806,189 shares of the business services provider’s stock valued at $319,551,000 after acquiring an additional 318,600 shares in the last quarter. State Street Corp grew its holdings in shares of Korn Ferry by 1.5% during the 2nd quarter. State Street Corp now owns 1,919,141 shares of the business services provider’s stock worth $95,074,000 after acquiring an additional 27,439 shares during the period. Invesco Ltd. lifted its stake in shares of Korn Ferry by 11.7% in the 1st quarter. Invesco Ltd. now owns 1,783,944 shares of the business services provider’s stock valued at $115,849,000 after purchasing an additional 186,361 shares during the period. Finally, Alliancebernstein L.P. grew its stake in Korn Ferry by 14.9% in the fourth quarter. Alliancebernstein L.P. now owns 1,650,554 shares of the business services provider’s stock worth $83,551,000 after purchasing an additional 214,170 shares during the period. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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