UBS Group Initiates Coverage on Korn Ferry (NYSE:KFY)

UBS Group initiated coverage on shares of Korn Ferry (NYSE:KFY) in a research note published on Friday morning, Marketbeat.com reports. The firm issued a neutral rating and a $53.00 price target on the business services provider’s stock.

Several other brokerages have also weighed in on KFY. Truist Financial reiterated a buy rating and set a $65.00 target price on shares of Korn Ferry in a research report on Friday, July 14th. StockNews.com cut shares of Korn Ferry from a buy rating to a hold rating in a research report on Tuesday, September 12th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $60.25.

Korn Ferry Stock Up 1.6 %

KFY stock opened at $47.82 on Friday. Korn Ferry has a twelve month low of $44.69 and a twelve month high of $59.91. The company has a quick ratio of 1.68, a current ratio of 2.08 and a debt-to-equity ratio of 0.23. The company has a market cap of $2.52 billion, a PE ratio of 14.11 and a beta of 1.49. The business’s 50-day simple moving average is $51.54 and its 200 day simple moving average is $50.52.

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

Korn Ferry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 22nd will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.51%. Korn Ferry’s dividend payout ratio is 21.24%.

Institutional Investors Weigh In On Korn Ferry

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC lifted its stake in shares of Korn Ferry by 181.8% during the first quarter. Belpointe Asset Management LLC now owns 775 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 500 shares during the period. Advisors Asset Management Inc. lifted its position in Korn Ferry by 55.2% during the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the business services provider’s stock valued at $61,000 after purchasing an additional 336 shares during the period. Nemes Rush Group LLC bought a new position in shares of Korn Ferry in the 2nd quarter valued at about $53,000. Rockefeller Capital Management L.P. grew its position in shares of Korn Ferry by 22.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,132 shares of the business services provider’s stock worth $57,000 after buying an additional 207 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in shares of Korn Ferry by 106.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,214 shares of the business services provider’s stock worth $61,000 after buying an additional 627 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

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.