Korn/Ferry International to Issue Quarterly Dividend of $0.48 (NYSE:KFY)

Korn/Ferry International (NYSE:KFY - Get Free Report) declared a quarterly dividend on Tuesday, June 17th, RTT News reports. Investors of record on Thursday, July 3rd will be given a dividend of 0.48 per share by the business services provider on Thursday, July 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.63%.

Korn/Ferry International has a dividend payout ratio of 32.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Korn/Ferry International to earn $5.37 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 35.8%.

Korn/Ferry International Trading Up 9.4%

Shares of KFY traded up $6.25 during midday trading on Wednesday, hitting $73.01. 377,182 shares of the stock were exchanged, compared to its average volume of 390,363. The stock has a fifty day simple moving average of $65.82 and a 200 day simple moving average of $67.15. Korn/Ferry International has a 52-week low of $59.23 and a 52-week high of $80.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $3.77 billion, a P/E ratio of 15.74 and a beta of 1.42.

Korn/Ferry International (NYSE:KFY - Get Free Report) last released its earnings results on Wednesday, June 18th. The business services provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.06. The company had revenue of $712.05 million during the quarter, compared to the consensus estimate of $690.07 million. Korn/Ferry International had a return on equity of 14.52% and a net margin of 9.01%. Korn/Ferry International's revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.26 EPS. On average, research analysts anticipate that Korn/Ferry International will post 4.75 EPS for the current fiscal year.

Analysts Set New Price Targets

KFY has been the topic of a number of research reports. Truist Financial reduced their target price on shares of Korn/Ferry International from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Wall Street Zen raised Korn/Ferry International from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Finally, UBS Group reduced their price objective on Korn/Ferry International from $75.00 to $74.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 27th.

Hedge Funds Weigh In On Korn/Ferry International

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its holdings in Korn/Ferry International by 22.7% during the 1st quarter. Royal Bank of Canada now owns 11,413 shares of the business services provider's stock worth $775,000 after acquiring an additional 2,112 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Korn/Ferry International by 3.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,567 shares of the business services provider's stock worth $2,073,000 after purchasing an additional 1,009 shares during the last quarter. Millennium Management LLC grew its stake in shares of Korn/Ferry International by 566.9% during the first quarter. Millennium Management LLC now owns 124,786 shares of the business services provider's stock worth $8,464,000 after purchasing an additional 106,076 shares in the last quarter. United Services Automobile Association purchased a new position in Korn/Ferry International in the first quarter valued at $231,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Korn/Ferry International by 6.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 172,556 shares of the business services provider's stock valued at $11,704,000 after buying an additional 11,020 shares in the last quarter. 98.82% of the stock is owned by institutional investors and hedge funds.

About Korn/Ferry International

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.

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