New York State Teachers Retirement System Sells 1,300 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

New York State Teachers Retirement System trimmed its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,382 shares of the business services provider’s stock after selling 1,300 shares during the quarter. New York State Teachers Retirement System owned about 0.16% of Kelly Services worth $1,207,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Kelly Services in the second quarter valued at about $30,000. Innealta Capital LLC bought a new stake in shares of Kelly Services in the second quarter valued at about $39,000. nVerses Capital LLC bought a new stake in shares of Kelly Services in the second quarter valued at about $47,000. Meeder Asset Management Inc. bought a new stake in shares of Kelly Services in the second quarter valued at about $51,000. Finally, SG Americas Securities LLC bought a new stake in shares of Kelly Services in the first quarter valued at about $125,000. 76.34% of the stock is owned by institutional investors.

Kelly Services Trading Down 8.9 %

KELYA opened at $16.52 on Friday. Kelly Services, Inc. has a twelve month low of $16.23 and a twelve month high of $25.27. The company has a 50-day simple moving average of $20.46 and a 200 day simple moving average of $21.35. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $587.62 million, a price-to-earnings ratio of 12.61, a P/E/G ratio of 0.69 and a beta of 1.20.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.23). Kelly Services had a return on equity of 7.82% and a net margin of 1.09%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the company earned $0.50 EPS. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. Analysts predict that Kelly Services, Inc. will post 2.49 EPS for the current fiscal year.

Kelly Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Wednesday, November 20th. Kelly Services’s payout ratio is 22.90%.

Analysts Set New Price Targets

KELYA has been the subject of a number of recent research reports. StockNews.com cut shares of Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Barrington Research reaffirmed an “outperform” rating and set a $29.00 price objective on shares of Kelly Services in a research report on Friday, September 27th.

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.