Korn Ferry (NYSE:KFY) to Issue Dividend Increase – $0.37 Per Share

Korn Ferry (NYSE:KFY) announced a quarterly dividend on Wednesday, June 12th, Wall Street Journal reports. Investors of record on Wednesday, July 3rd will be given a dividend of 0.37 per share by the business services provider on Wednesday, July 31st. This represents a $1.48 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, July 3rd. This is an increase from Korn Ferry’s previous quarterly dividend of $0.33.

Korn Ferry has increased its dividend by an average of 28.1% annually over the last three years. Korn Ferry has a dividend payout ratio of 27.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Korn Ferry to earn $5.41 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 27.4%.

Korn Ferry Stock Performance

Shares of KFY stock opened at $67.14 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.83 and a debt-to-equity ratio of 0.23. The company has a market cap of $3.53 billion, a PE ratio of 20.85 and a beta of 1.54. Korn Ferry has a 12-month low of $44.45 and a 12-month high of $70.78. The business’s fifty day simple moving average is $64.89 and its 200-day simple moving average is $62.01.

Korn Ferry (NYSE:KFY) last issued its quarterly earnings results on Thursday, June 13th. The business services provider reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.13. The business had revenue of $690.80 million during the quarter, compared to the consensus estimate of $687.36 million. Korn Ferry had a return on equity of 13.18% and a net margin of 6.05%. The company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the company earned $1.01 earnings per share. Analysts expect that Korn Ferry will post 4.86 earnings per share for the current fiscal year.

Insider Activity

In other Korn Ferry news, CEO Mark Arian sold 5,000 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $66.01, for a total transaction of $330,050.00. Following the transaction, the chief executive officer now directly owns 91,484 shares of the company’s stock, valued at $6,038,858.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

KFY has been the subject of several research reports. UBS Group lifted their price objective on shares of Korn Ferry from $66.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. Truist Financial reissued a “buy” rating and issued a $78.00 price objective (up previously from $74.00) on shares of Korn Ferry in a report on Friday, June 14th. Robert W. Baird raised their target price on Korn Ferry from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. Finally, StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $75.00.

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.