Korn Ferry (NYSE:KFY) Hits New 1-Year High at $75.36

Korn Ferry (NYSE:KFY) hit a new 52-week high during trading on Thursday . The stock traded as high as $75.36 and last traded at $75.18, with a volume of 157592 shares trading hands. The stock had previously closed at $73.19.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. Robert W. Baird upped their target price on Korn Ferry from $72.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Truist Financial reaffirmed a “buy” rating and issued a $78.00 target price (up from $74.00) on shares of Korn Ferry in a research report on Friday, June 14th. Finally, UBS Group upped their target price on Korn Ferry from $66.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Korn Ferry has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

Korn Ferry Stock Performance

The company has a market cap of $3.88 billion, a P/E ratio of 23.25 and a beta of 1.54. The firm has a 50 day moving average price of $70.55 and a 200-day moving average price of $66.68. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.15.

Korn Ferry (NYSE:KFY) last released its quarterly earnings results on Thursday, September 5th. The business services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.06. Korn Ferry had a return on equity of 13.73% and a net margin of 6.68%. The company had revenue of $682.80 million during the quarter, compared to the consensus estimate of $663.84 million. During the same quarter in the prior year, the company posted $0.99 EPS. The firm’s revenue was down 3.3% on a year-over-year basis. On average, research analysts predict that Korn Ferry will post 4.84 EPS for the current year.

Korn Ferry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, September 19th will be paid a dividend of $0.37 per share. The ex-dividend date is Thursday, September 19th. This represents a $1.48 annualized dividend and a yield of 1.98%. Korn Ferry’s payout ratio is 45.96%.

Insider Activity at Korn Ferry

In related news, CFO Robert P. Rozek sold 20,921 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $75.53, for a total transaction of $1,580,163.13. Following the completion of the sale, the chief financial officer now owns 154,535 shares in the company, valued at approximately $11,672,028.55. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of Korn Ferry

Several hedge funds have recently added to or reduced their stakes in KFY. Thrivent Financial for Lutherans lifted its position in shares of Korn Ferry by 1,846.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 886,993 shares of the business services provider’s stock worth $59,553,000 after acquiring an additional 841,413 shares during the period. Jennison Associates LLC bought a new stake in shares of Korn Ferry in the 1st quarter worth approximately $52,948,000. Norges Bank bought a new stake in shares of Korn Ferry in the 4th quarter worth approximately $36,347,000. Artemis Investment Management LLP bought a new stake in shares of Korn Ferry in the 2nd quarter worth approximately $28,590,000. Finally, Pzena Investment Management LLC lifted its position in shares of Korn Ferry by 24.6% in the 1st quarter. Pzena Investment Management LLC now owns 1,118,694 shares of the business services provider’s stock worth $73,565,000 after acquiring an additional 220,564 shares during the period. Institutional investors own 98.82% 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.