Korn Ferry (NYSE:KFY) Price Target Raised to $84.00

Korn Ferry (NYSE:KFY) had its price objective upped by Truist Financial from $78.00 to $84.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Korn Ferry Stock Performance

NYSE:KFY opened at $71.56 on Friday. Korn Ferry has a fifty-two week low of $52.06 and a fifty-two week high of $80.64. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.15 and a current ratio of 2.15. The company has a 50 day moving average price of $74.19 and a 200 day moving average price of $70.77. The stock has a market capitalization of $3.72 billion, a P/E ratio of 15.29 and a beta of 1.56.

Korn Ferry (NYSE:KFY) last released 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 business had revenue of $682.00 million during the quarter, compared to analyst estimates of $675.35 million. Korn Ferry had a return on equity of 13.73% and a net margin of 6.68%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the business posted $0.97 earnings per share. Equities research analysts forecast that Korn Ferry will post 4.84 EPS for the current year.

Korn Ferry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.48 annualized dividend and a dividend yield of 2.07%. Korn Ferry’s dividend payout ratio is presently 31.62%.

Insider Activity

In other Korn Ferry news, insider Michael Distefano sold 5,000 shares of the stock in a transaction dated 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 owns 50,954 shares of the company’s stock, valued at $3,687,031.44. This trade represents a 8.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert P. Rozek sold 20,921 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was 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. This represents a 11.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,201 shares of company stock valued at $6,329,320. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Korn Ferry

A number of large investors have recently modified their holdings of KFY. Diversify Advisory Services LLC acquired a new position in shares of Korn Ferry during the second quarter worth $1,158,000. Seven Eight Capital LP boosted its position in shares of Korn Ferry by 216.4% during the 2nd quarter. Seven Eight Capital LP now owns 25,049 shares of the business services provider’s stock worth $1,682,000 after acquiring an additional 17,132 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Korn Ferry by 7.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 949,378 shares of the business services provider’s stock valued at $71,431,000 after acquiring an additional 62,385 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Korn Ferry during the 2nd quarter worth about $653,000. Finally, Driehaus Capital Management LLC raised its position in shares of Korn Ferry by 7.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 295,460 shares of the business services provider’s stock worth $19,837,000 after acquiring an additional 21,235 shares in the last quarter. 98.82% of the stock is owned by hedge funds and other institutional investors.

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.