Allspring Global Investments Holdings LLC Lowers Holdings in Kelly Services, Inc. (NASDAQ:KELYA)

Allspring Global Investments Holdings LLC decreased its holdings in Kelly Services, Inc. (NASDAQ:KELYA) by 66.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,203 shares of the business services provider’s stock after selling 155,854 shares during the period. Allspring Global Investments Holdings LLC owned about 0.22% of Kelly Services worth $1,090,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. US Bancorp DE grew its holdings in Kelly Services by 9.3% during the third quarter. US Bancorp DE now owns 10,135 shares of the business services provider’s stock valued at $217,000 after purchasing an additional 866 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Kelly Services by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 37,404 shares of the business services provider’s stock worth $521,000 after buying an additional 945 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Kelly Services by 367.1% in the fourth quarter. Versant Capital Management Inc now owns 2,396 shares of the business services provider’s stock worth $33,000 after buying an additional 1,883 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Kelly Services by 9.3% in the third quarter. Franklin Resources Inc. now owns 22,362 shares of the business services provider’s stock worth $456,000 after buying an additional 1,905 shares in the last quarter. Finally, KBC Group NV increased its stake in Kelly Services by 109.1% during the fourth quarter. KBC Group NV now owns 3,886 shares of the business services provider’s stock worth $54,000 after acquiring an additional 2,028 shares during the last quarter. Institutional investors own 76.34% of the company’s stock.

Kelly Services Trading Up 1.3 %

KELYA opened at $13.87 on Monday. The stock has a market cap of $483.90 million, a price-to-earnings ratio of -231.13, a P/E/G ratio of 0.43 and a beta of 1.11. The stock’s 50 day moving average price is $13.76 and its 200-day moving average price is $17.06. Kelly Services, Inc. has a one year low of $12.68 and a one year high of $25.27. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.65 and a current ratio of 1.65.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.38. Kelly Services had a positive return on equity of 6.56% and a negative net margin of 0.01%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. On average, equities analysts forecast that Kelly Services, Inc. will post 2.45 EPS for the current year.

Kelly Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.30 dividend on an annualized basis and a yield of 2.16%. Kelly Services’s dividend payout ratio is currently -500.00%.

Analyst Upgrades and Downgrades

Separately, Barrington Research reissued an “outperform” rating and set a $25.00 price objective on shares of Kelly Services in a research note on Tuesday, February 18th.

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.