Korn Ferry (NYSE:KFY) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of Korn Ferry (NYSE:KFY) from a buy rating to a hold rating in a research report report published on Monday morning.

Separately, Truist Financial raised their price target on shares of Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Korn Ferry Trading Up 1.3 %

Korn Ferry stock opened at $72.52 on Monday. Korn Ferry has a 52 week low of $54.48 and a 52 week high of $80.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.15 and a current ratio of 2.07. The firm has a market capitalization of $3.77 billion, a PE ratio of 15.50 and a beta of 1.56. The business’s 50-day simple moving average is $74.13 and its 200-day simple moving average is $70.81.

Korn Ferry (NYSE:KFY) last issued its quarterly earnings results on Thursday, December 5th. The business services provider reported $1.21 EPS for the quarter, hitting the consensus estimate of $1.21. The company had revenue of $682.00 million for the quarter, compared to the consensus estimate of $675.35 million. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 EPS. Equities research analysts forecast that Korn Ferry will post 4.79 earnings per share for the current year.

Korn Ferry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be paid a $0.37 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.04%. Korn Ferry’s payout ratio is 31.62%.

Insiders Place Their Bets

In other Korn Ferry news, insider Michael Distefano sold 5,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $72.36, for a total value of $361,800.00. Following the sale, the insider now directly owns 50,954 shares in the company, valued at $3,687,031.44. This represents a 8.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Robert P. Rozek sold 20,921 shares of Korn Ferry stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $75.53, for a total value of $1,580,163.13. Following the transaction, the chief financial officer now directly owns 154,535 shares of the company’s stock, valued at approximately $11,672,028.55. The trade was a 11.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,201 shares of company stock worth $6,329,320 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Korn Ferry

A number of hedge funds have recently made changes to their positions in KFY. Dimensional Fund Advisors LP boosted its position in Korn Ferry by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,281,186 shares of the business services provider’s stock valued at $220,296,000 after buying an additional 48,993 shares in the last quarter. State Street Corp boosted its holdings in shares of Korn Ferry by 2.0% in the 3rd quarter. State Street Corp now owns 2,069,906 shares of the business services provider’s stock worth $156,503,000 after acquiring an additional 40,240 shares in the last quarter. Pacer Advisors Inc. bought a new stake in Korn Ferry during the 3rd quarter worth approximately $103,546,000. Geode Capital Management LLC increased its holdings in Korn Ferry by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,217,031 shares of the business services provider’s stock valued at $91,587,000 after purchasing an additional 28,014 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in Korn Ferry by 13.2% during the 3rd quarter. Jennison Associates LLC now owns 988,005 shares of the business services provider’s stock valued at $74,337,000 after purchasing an additional 115,523 shares in the last quarter. Institutional investors and hedge funds own 98.82% of the company’s stock.

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.