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

by · The Markets Daily

StockNews.com cut shares of Korn Ferry (NYSE:KFY – Free Report) from a buy rating to a hold rating in a research note released on Monday morning.

Separately, Truist Financial raised their price objective on Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $77.00.

Get Our Latest Stock Report on Korn Ferry

Korn Ferry Trading Down 1.0 %

Shares of NYSE KFY opened at $71.23 on Monday. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 15.22 and a beta of 1.56. The business has a 50 day simple moving average of $74.05 and a 200 day simple moving average of $70.85. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.15 and a current ratio of 2.07. Korn Ferry has a 52 week low of $54.56 and a 52 week high of $80.64.

Korn Ferry (NYSE:KFY – Get Free Report) last released its quarterly earnings results on Thursday, December 5th. The business services provider reported $1.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.21. The business had revenue of $682.00 million for the quarter, compared to the consensus estimate of $675.35 million. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. Korn Ferry’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.97 EPS. On average, research analysts predict that Korn Ferry will post 4.79 earnings per share for the current fiscal year.

Korn Ferry Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Friday, December 20th. Korn Ferry’s dividend payout ratio (DPR) is 31.62%.

Insider Activity

In related news, CEO Gary D. Burnison sold 16,274 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $74.05, for a total transaction of $1,205,089.70. Following the completion of the transaction, the chief executive officer now directly owns 356,844 shares in the company, valued at $26,424,298.20. This represents a 4.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Debra J. Perry sold 5,280 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $73.30, for a total transaction of $387,024.00. Following the completion of the sale, the director now owns 46,180 shares in the company, valued at $3,384,994. This represents a 10.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,201 shares of company stock valued at $6,329,320. 1.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Arizona State Retirement System increased its stake in Korn Ferry by 1.2% during the second quarter. Arizona State Retirement System now owns 14,608 shares of the business services provider’s stock valued at $981,000 after acquiring an additional 168 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Korn Ferry by 112.0% during the second quarter. EverSource Wealth Advisors LLC now owns 388 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 205 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Korn Ferry by 1.6% in the second quarter. SummerHaven Investment Management LLC now owns 14,320 shares of the business services provider’s stock valued at $961,000 after purchasing an additional 229 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its position in Korn Ferry by 1.5% in the third quarter. Azzad Asset Management Inc. ADV now owns 15,210 shares of the business services provider’s stock worth $1,144,000 after purchasing an additional 231 shares during the period. Finally, Simplicity Wealth LLC boosted its stake in Korn Ferry by 4.8% during the third quarter. Simplicity Wealth LLC now owns 6,146 shares of the business services provider’s stock worth $462,000 after buying an additional 283 shares in the last quarter. Institutional investors and hedge funds own 98.82% of the company’s stock.

Korn Ferry Company Profile

(Get Free Report)

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.

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