Bank of New York Mellon Corp Lowers Holdings in Kelly Services, Inc. (NASDAQ:KELYA)

Bank of New York Mellon Corp decreased its position in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 310,537 shares of the business services provider’s stock after selling 15,599 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.87% of Kelly Services worth $4,329,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in Kelly Services by 45.7% in the third quarter. Pacer Advisors Inc. now owns 1,211,791 shares of the business services provider’s stock worth $25,944,000 after purchasing an additional 380,035 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Kelly Services in the 4th quarter worth approximately $1,481,000. Segall Bryant & Hamill LLC bought a new position in shares of Kelly Services during the 3rd quarter worth approximately $2,122,000. Jacobs Levy Equity Management Inc. lifted its position in Kelly Services by 20.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 329,932 shares of the business services provider’s stock valued at $7,064,000 after acquiring an additional 56,457 shares during the last quarter. Finally, Barclays PLC boosted its stake in Kelly Services by 238.0% in the third quarter. Barclays PLC now owns 63,638 shares of the business services provider’s stock valued at $1,362,000 after acquiring an additional 44,811 shares in the last quarter. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Analysts Set New Price Targets

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

Kelly Services Stock Up 3.0 %

NASDAQ:KELYA opened at $13.49 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19. Kelly Services, Inc. has a twelve month low of $12.66 and a twelve month high of $25.16. The company has a market cap of $470.64 million, a PE ratio of -224.80, a P/E/G ratio of 0.43 and a beta of 1.13. The company’s 50 day moving average is $13.70 and its two-hundred day moving average is $16.21.

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

Kelly Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, February 26th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.30 dividend on an annualized basis and a yield of 2.22%. Kelly Services’s dividend payout ratio is presently -500.00%.

About Kelly Services

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.