Truist Financial Cuts Korn Ferry (NYSE:KFY) Price Target to $80.00

Korn Ferry (NYSE:KFY - Free Report) had its price target lowered by Truist Financial from $84.00 to $80.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the business services provider's stock.

Separately, StockNews.com upgraded Korn Ferry from a "hold" rating to a "buy" rating in a report on Tuesday, December 17th.

Korn Ferry Stock Down 1.6 %

Shares of KFY traded down $0.96 during midday trading on Tuesday, reaching $60.70. 427,321 shares of the stock were exchanged, compared to its average volume of 376,507. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22. The company's 50 day moving average is $65.29 and its two-hundred day moving average is $69.39. The company has a market capitalization of $3.13 billion, a P/E ratio of 12.97 and a beta of 1.40. Korn Ferry has a 52 week low of $59.44 and a 52 week high of $80.64.

Korn Ferry (NYSE:KFY - Get Free Report) last posted its earnings results on Tuesday, March 11th. The business services provider reported $1.19 EPS for the quarter, beating 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 the consensus estimate of $650.45 million. During the same quarter last year, the firm posted $1.07 EPS. The company's revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts anticipate that Korn Ferry will post 4.75 earnings per share for the current year.

Korn Ferry Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Thursday, March 27th were paid a $0.48 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This is a boost from Korn Ferry's previous quarterly dividend of $0.37. This represents a $1.92 dividend on an annualized basis and a yield of 3.16%. Korn Ferry's dividend payout ratio (DPR) is 41.29%.

Institutional Investors Weigh In On Korn Ferry

Several institutional investors and hedge funds have recently made changes to their positions in KFY. Versant Capital Management Inc lifted its position in Korn Ferry by 75.9% during the 1st quarter. Versant Capital Management Inc now owns 517 shares of the business services provider's stock worth $35,000 after acquiring an additional 223 shares during the period. CX Institutional acquired a new stake in shares of Korn Ferry during the first quarter worth about $39,000. Wealthfront Advisers LLC acquired a new position in Korn Ferry in the 4th quarter worth approximately $76,000. Smartleaf Asset Management LLC lifted its stake in Korn Ferry by 230.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,381 shares of the business services provider's stock valued at $93,000 after acquiring an additional 963 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in shares of Korn Ferry by 828.3% in the 4th 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 last quarter. 98.82% of the stock is currently owned by institutional investors and hedge funds.

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.