Barclays PLC raised its position in Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 238.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 63,638 shares of the business services provider's stock after purchasing an additional 44,811 shares during the period. Barclays PLC owned 0.18% of Kelly Services worth $1,362,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently 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 valued at $57,972,000 after acquiring an additional 21,230 shares in the last quarter. State Street Corp increased its stake in Kelly Services by 1.4% during 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 purchasing an additional 17,579 shares in the last quarter. Pacer Advisors Inc. increased its stake in Kelly Services by 45.7% during 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 purchasing an additional 380,035 shares in the last quarter. Geode Capital Management LLC increased its stake in Kelly Services by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 781,661 shares of the business services provider's stock valued at $16,739,000 after purchasing an additional 9,635 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in 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 valued at $14,620,000 after purchasing an additional 180,238 shares in the last quarter. Institutional investors and hedge funds own 76.34% of the company's stock.
Insider Buying and Selling at Kelly Services
In related news, SVP Daniel H. Malan acquired 3,500 shares of the company's stock in a transaction dated Wednesday, November 20th. The stock was purchased at an average price of $13.88 per share, with a total value of $48,580.00. Following the completion of the purchase, the senior vice president now owns 95,906 shares in the company, valued at $1,331,175.28. This trade represents a 3.79 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.90% of the company's stock.
Wall Street Analyst Weigh In
Separately, Barrington Research reduced their target price on shares of Kelly Services from $29.00 to $25.00 and set an "outperform" rating for the company in a research note on Monday, November 18th.
View Our Latest Research Report on KELYA
Kelly Services Price Performance
Shares of KELYA traded up $0.59 during midday trading on Monday, hitting $13.84. 449,481 shares of the company traded hands, compared to its average volume of 430,769. The stock has a 50-day moving average of $14.65 and a 200-day moving average of $18.73. Kelly Services, Inc. has a one year low of $12.68 and a one year high of $25.27. The firm has a market cap of $492.84 million, a P/E ratio of 12.03, a PEG ratio of 0.55 and a beta of 1.12. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 1.61.
Kelly Services (NASDAQ:KELYA - Get Free Report) 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). The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate 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 company posted $0.50 earnings per share. As a group, sell-side analysts predict that Kelly Services, Inc. will post 1.93 EPS for the current fiscal year.
Kelly Services Announces Dividend
The firm also recently declared 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. This represents a $0.30 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Wednesday, November 20th. Kelly Services's payout ratio is currently 26.09%.
About Kelly Services
(
Free Report)
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.
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