Geode Capital Management LLC Raises Position in Kelly Services, Inc. (NASDAQ:KELYA)

Geode Capital Management LLC boosted its position in Kelly Services, Inc. (NASDAQ:KELYA) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 781,661 shares of the business services provider’s stock after purchasing an additional 9,635 shares during the quarter. Geode Capital Management LLC owned about 2.20% of Kelly Services worth $16,739,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Kelly Services by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,707,721 shares of the business services provider’s stock worth $57,972,000 after acquiring an additional 21,230 shares during the last quarter. State Street Corp grew its stake in shares of Kelly Services by 1.4% in the 3rd quarter. State Street Corp now owns 1,253,704 shares of the business services provider’s stock valued at $26,842,000 after buying an additional 17,579 shares during the period. Pacer Advisors Inc. grew its stake in shares of Kelly Services by 45.7% in the 3rd quarter. Pacer Advisors Inc. now owns 1,211,791 shares of the business services provider’s stock valued at $25,944,000 after buying an additional 380,035 shares during the period. American Century Companies Inc. increased its holdings in shares of Kelly Services by 35.9% during the 2nd quarter. American Century Companies Inc. now owns 682,857 shares of the business services provider’s stock worth $14,620,000 after buying an additional 180,238 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of Kelly Services by 5.2% during the 2nd quarter. LSV Asset Management now owns 615,729 shares of the business services provider’s stock valued at $13,183,000 after buying an additional 30,300 shares during the period. 76.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Barrington Research dropped their target price on shares of Kelly Services from $29.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 18th.

Insider Buying and Selling at Kelly Services

In other news, SVP Daniel H. Malan acquired 3,500 shares of Kelly Services stock in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average price of $13.88 per share, for a total transaction of $48,580.00. Following the completion of the transaction, the senior vice president now directly owns 95,906 shares in the company, valued at approximately $1,331,175.28. This trade represents a 3.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.90% of the company’s stock.

Kelly Services Stock Down 0.5 %

Shares of NASDAQ:KELYA opened at $13.18 on Monday. The firm has a 50 day simple moving average of $15.85 and a 200-day simple moving average of $19.27. Kelly Services, Inc. has a twelve month low of $12.68 and a twelve month high of $25.27. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $469.34 million, a PE ratio of 11.46, a P/E/G ratio of 0.55 and a beta of 1.12.

Kelly Services (NASDAQ:KELYA) last posted its earnings results on Thursday, November 7th. The business services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 EPS. On average, equities analysts predict that Kelly Services, Inc. will post 1.93 EPS for the current fiscal year.

Kelly Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.075 per share. The ex-dividend date was Wednesday, November 20th. This represents a $0.30 dividend on an annualized basis and a yield of 2.28%. Kelly Services’s payout ratio is 26.09%.

Kelly Services Company Profile

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.