Korn Ferry (NYSE:KFY) Raises Dividend to $0.48 Per Share

Korn Ferry (NYSE:KFY) declared a quarterly dividend on Monday, March 10th, RTT News reports. Shareholders of record on Thursday, March 27th will be paid a dividend of 0.48 per share by the business services provider on Tuesday, April 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.08%. This is a 29.7% increase from Korn Ferry’s previous quarterly dividend of $0.37.

Korn Ferry has increased its dividend by an average of 46.3% annually over the last three years. Korn Ferry has a dividend payout ratio of 24.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Korn Ferry to earn $5.37 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 27.6%.

Korn Ferry Stock Performance

NYSE KFY opened at $62.42 on Tuesday. The business’s 50-day moving average price is $67.53 and its 200 day moving average price is $70.81. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22. Korn Ferry has a twelve month low of $59.78 and a twelve month high of $80.64. The company has a market capitalization of $3.22 billion, a PE ratio of 13.34 and a beta of 1.57.

Korn Ferry (NYSE:KFY) last released its earnings results on Tuesday, March 11th. The business services provider reported $1.19 earnings per share (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%. On average, research analysts predict that Korn Ferry will post 4.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KFY. Truist Financial boosted their price target on Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, December 6th. StockNews.com raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a research report on Tuesday, December 17th.

Insider Transactions at Korn Ferry

In related news, CEO Mark Arian sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $72.24, for a total transaction of $1,444,800.00. Following the transaction, the chief executive officer now directly owns 68,869 shares of the company’s stock, valued at approximately $4,975,096.56. The trade was a 22.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.40% 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.