Kelly Services, Inc. (NASDAQ:KELYA) Stake Lifted by US Bancorp DE

US Bancorp DE lifted its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 9.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,135 shares of the business services provider’s stock after purchasing an additional 866 shares during the quarter. US Bancorp DE’s holdings in Kelly Services were worth $217,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in KELYA. Northwestern Mutual Wealth Management Co. bought a new position in shares of Kelly Services in the second quarter valued at $30,000. Innealta Capital LLC purchased a new stake in shares of Kelly Services in the second quarter worth approximately $39,000. nVerses Capital LLC acquired a new stake in shares of Kelly Services during the second quarter worth approximately $47,000. Meeder Asset Management Inc. purchased a new position in Kelly Services during the second quarter valued at approximately $51,000. Finally, SG Americas Securities LLC acquired a new position in Kelly Services in the 1st quarter valued at approximately $125,000. Institutional investors and hedge funds own 76.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on KELYA shares. 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. StockNews.com downgraded Kelly Services from a “buy” rating to a “hold” rating in a research note on Friday, August 9th.

Kelly Services Price Performance

Shares of NASDAQ:KELYA opened at $15.05 on Friday. The business’s 50 day moving average is $20.06 and its 200-day moving average is $21.12. 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 firm has a market capitalization of $535.33 million, a PE ratio of 13.09, a PEG ratio of 0.59 and a beta of 1.20. Kelly Services, Inc. has a 1-year low of $14.98 and a 1-year high of $25.27.

Kelly Services (NASDAQ:KELYA) last issued its earnings results 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 net margin of 0.97% and a return on equity of 6.93%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm posted $0.50 earnings per share. Kelly Services’s revenue was down 7.1% on a year-over-year basis. Sell-side analysts predict that Kelly Services, Inc. will post 2.07 earnings per share for the current year.

Kelly Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Wednesday, November 20th. 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.