Korn Ferry (NYSE:KFY) to Issue $0.37 Quarterly Dividend

Korn Ferry (NYSE:KFY - Get Free Report) declared a quarterly dividend on Friday, December 6th,Wall Street Journal reports. Stockholders of record on Friday, December 20th will be given a dividend of 0.37 per share by the business services provider on Wednesday, January 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, December 20th.

Korn Ferry has increased its dividend by an average of 28.1% per year over the last three years. Korn Ferry has a dividend payout ratio of 27.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Korn Ferry to earn $5.40 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

NYSE KFY traded down $0.52 on Friday, hitting $71.56. The stock had a trading volume of 569,658 shares, compared to its average volume of 352,937. The company's 50-day moving average is $74.22 and its two-hundred day moving average is $70.65. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 20.71 and a beta of 1.56. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.23. Korn Ferry has a one year low of $52.06 and a one year high of $80.64.

Korn Ferry (NYSE:KFY - Get Free Report) last announced its earnings results on Thursday, December 5th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.21. The company had revenue of $682.00 million for 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%. Korn Ferry's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 earnings per share. On average, analysts expect that Korn Ferry will post 4.84 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Truist Financial increased their price objective on Korn Ferry from $78.00 to $84.00 and gave the stock a "buy" rating in a report on Friday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Korn Ferry has an average rating of "Moderate Buy" and a consensus price target of $77.00.

Insider Activity

In other news, CEO Gary D. Burnison sold 38,726 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $72.18, for a total transaction of $2,795,242.68. Following the sale, the chief executive officer now directly owns 273,118 shares of the company's stock, valued at $19,713,657.24. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert P. Rozek sold 20,921 shares of the company's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $75.53, for a total transaction of $1,580,163.13. Following the transaction, the chief financial officer now owns 154,535 shares in the company, valued at approximately $11,672,028.55. The trade was a 11.92 % 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 worth $6,329,320. Company insiders own 1.40% of the company's stock.

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.

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