Korn Ferry (NYSE:KFY) Plans Quarterly Dividend of $0.37

Korn Ferry (NYSE:KFY) declared a quarterly dividend on Wednesday, December 4th,Wall Street Journal reports. Stockholders of record on Friday, December 20th will be paid 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 of this dividend is Friday, December 20th.

Korn Ferry has raised 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% indicating that 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 Trading Down 0.7 %

NYSE KFY traded down $0.52 during trading hours on Friday, hitting $71.56. 569,758 shares of the company’s stock were exchanged, compared to its average volume of 352,937. The stock has a 50-day simple moving average of $74.22 and a 200 day simple moving average of $70.65. Korn Ferry has a 1-year low of $52.06 and a 1-year high of $80.64. The firm 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 current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.23.

Korn Ferry (NYSE:KFY) last announced its quarterly earnings data on Thursday, December 5th. The business services provider reported $1.21 EPS for the quarter, meeting analysts’ consensus estimates of $1.21. Korn Ferry had a return on equity of 13.73% and a net margin of 6.68%. The firm had revenue of $682.00 million during the quarter, compared to analysts’ expectations of $675.35 million. During the same quarter last year, the firm posted $0.97 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities analysts forecast that Korn Ferry will post 4.84 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Robert P. Rozek sold 20,921 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 154,535 shares of the company’s stock, valued at approximately $11,672,028.55. This represents a 11.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary D. Burnison sold 38,726 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $72.18, for a total value of $2,795,242.68. Following the completion of the sale, the chief executive officer now owns 273,118 shares in the company, valued at $19,713,657.24. The trade was a 12.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,201 shares of company stock worth $6,329,320 over the last ninety days. 1.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Truist Financial raised their price objective on Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

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.