Korn Ferry (NYSE:KFY) Reaches New 1-Year Low - Time to Sell?

Korn Ferry (NYSE:KFY - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $59.23 and last traded at $59.44, with a volume of 138812 shares. The stock had previously closed at $60.72.

Analysts Set New Price Targets

Separately, Truist Financial reduced their price objective on Korn Ferry from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th.

Korn Ferry Stock Performance

The business has a fifty day simple moving average of $64.85 and a 200-day simple moving average of $69.07. The firm has a market cap of $3.17 billion, a P/E ratio of 13.13 and a beta of 1.40. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.22.

Korn Ferry (NYSE:KFY - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The business services provider reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.06. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The business had revenue of $676.50 million for the quarter, compared to analysts' expectations of $650.45 million. During the same quarter in the prior year, the company earned $1.07 earnings per share. The business's revenue was down .1% compared to the same quarter last year. On average, sell-side analysts predict that Korn Ferry will post 4.75 EPS for the current fiscal year.

Korn Ferry Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Thursday, March 27th were issued a $0.48 dividend. The ex-dividend date was Thursday, March 27th. This is a boost from Korn Ferry's previous quarterly dividend of $0.37. This represents a $1.92 annualized dividend and a yield of 3.12%. Korn Ferry's payout ratio is 41.29%.

Hedge Funds Weigh In On Korn Ferry

A number of hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in shares of Korn Ferry by 75.9% during the first quarter. Versant Capital Management Inc now owns 517 shares of the business services provider's stock valued at $35,000 after purchasing an additional 223 shares in the last quarter. CX Institutional purchased a new stake in Korn Ferry during the 1st quarter valued at $39,000. Wealthfront Advisers LLC purchased a new position in shares of Korn Ferry in the 4th quarter worth $76,000. Smartleaf Asset Management LLC grew its holdings in shares of Korn Ferry by 230.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,381 shares of the business services provider's stock worth $93,000 after acquiring an additional 963 shares during the period. Finally, Sterling Capital Management LLC lifted its holdings in Korn Ferry by 828.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,671 shares of the business services provider's stock valued at $113,000 after acquiring an additional 1,491 shares during the period. 98.82% of the stock is currently owned by hedge funds and other institutional investors.

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.