Korn Ferry (NYSE:KFY) Sets New 12-Month Low - Should You Sell?

Shares of Korn Ferry (NYSE:KFY - Get Free Report) reached a new 52-week low on Monday . The stock traded as low as $59.23 and last traded at $59.44, with a volume of 138812 shares. The stock had previously closed at $60.72.

Analysts Set New Price Targets

Separately, Truist Financial reduced their price objective on Korn Ferry from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th.

Korn Ferry Trading Down 0.9 %

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 has a fifty day moving average price of $64.75 and a two-hundred day moving average price of $68.98. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 13.18 and a beta of 1.40.

Korn Ferry (NYSE:KFY - Get Free Report) last released its earnings results on Tuesday, March 11th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, topping 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 company had revenue of $676.50 million for the quarter, compared to analyst estimates of $650.45 million. During the same period in the prior year, the business earned $1.07 EPS. The firm's quarterly revenue was down .1% on a year-over-year basis. As a group, research analysts forecast that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Thursday, March 27th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Thursday, March 27th. This is a positive change from Korn Ferry's previous quarterly dividend of $0.37. Korn Ferry's payout ratio is currently 41.29%.

Hedge Funds Weigh In On Korn Ferry

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Korn Ferry by 193.9% in the third quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider's stock valued at $32,050,000 after acquiring an additional 281,024 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Korn Ferry by 5.7% during the 3rd quarter. Principal Financial Group Inc. now owns 271,969 shares of the business services provider's stock valued at $20,463,000 after acquiring an additional 14,601 shares during the last quarter. Blue Trust Inc. boosted its stake in Korn Ferry by 44.8% in the 4th quarter. Blue Trust Inc. now owns 3,204 shares of the business services provider's stock worth $216,000 after purchasing an additional 991 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of Korn Ferry by 14.2% during the 4th quarter. Allianz Asset Management GmbH now owns 753,414 shares of the business services provider's stock valued at $50,818,000 after buying an additional 93,591 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Korn Ferry by 202.4% in the 4th quarter. SG Americas Securities LLC now owns 9,552 shares of the business services provider's stock valued at $644,000 after buying an additional 6,393 shares in the last quarter. 98.82% of the stock is owned by institutional investors and hedge funds.

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.