Korn Ferry (NYSE:KFY) Shares Gap Down to $71.29

Korn Ferry (NYSE:KFY) gapped down prior to trading on Thursday . The stock had previously closed at $71.29, but opened at $69.13. Korn Ferry shares last traded at $69.26, with a volume of 24,494 shares trading hands.

Wall Street Analysts Forecast Growth

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

Korn Ferry Stock Down 2.0 %

The stock’s fifty day moving average is $69.45 and its two-hundred day moving average is $65.94. 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 capitalization of $3.45 billion, a PE ratio of 20.69 and a beta of 1.54.

Korn Ferry (NYSE:KFY) last released its earnings results on Thursday, September 5th. The business services provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.06. The firm had revenue of $682.80 million during the quarter, compared to the consensus estimate of $663.84 million. Korn Ferry had a net margin of 6.05% and a return on equity of 13.18%. The company’s revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 EPS. As a group, analysts predict that Korn Ferry will post 4.81 EPS for the current year.

Korn Ferry Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Thursday, September 19th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, September 19th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.22%. Korn Ferry’s dividend payout ratio is presently 45.96%.

Insider Buying and Selling at Korn Ferry

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund grew its stake in Korn Ferry by 3.7% during the fourth quarter. New York State Common Retirement Fund now owns 22,416 shares of the business services provider’s stock valued at $1,330,000 after acquiring an additional 810 shares in the last quarter. M&T Bank Corp bought a new position in shares of Korn Ferry in the fourth quarter worth $238,000. Charles Schwab Investment Management Inc. raised its position in shares of Korn Ferry by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 719,462 shares of the business services provider’s stock worth $42,700,000 after buying an additional 35,985 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Korn Ferry by 107.1% during the fourth quarter. Teacher Retirement System of Texas now owns 14,263 shares of the business services provider’s stock valued at $847,000 after buying an additional 7,375 shares during the period. Finally, Jump Financial LLC purchased a new position in Korn Ferry during the fourth quarter worth about $220,000. Hedge funds and other institutional investors own 98.82% of the company’s stock.

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.