JPMorgan Chase & Co. Grows Stock Position in Kelly Services, Inc. (NASDAQ:KELYA)

JPMorgan Chase & Co. increased its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 498.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,987 shares of the business services provider's stock after acquiring an additional 135,730 shares during the period. JPMorgan Chase & Co. owned about 0.46% of Kelly Services worth $2,272,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC increased 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 valued at $521,000 after acquiring an additional 945 shares during the last quarter. Palouse Capital Management Inc. grew its holdings in Kelly Services by 13.1% in the 4th quarter. Palouse Capital Management Inc. now owns 8,194 shares of the business services provider's stock valued at $114,000 after buying an additional 950 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in Kelly Services by 49.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,277 shares of the business services provider's stock worth $60,000 after purchasing an additional 1,406 shares in the last quarter. Victory Capital Management Inc. raised its stake in Kelly Services by 4.5% in the 4th quarter. Victory Capital Management Inc. now owns 32,611 shares of the business services provider's stock worth $455,000 after purchasing an additional 1,411 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in Kelly Services by 367.1% in the 4th quarter. Versant Capital Management Inc now owns 2,396 shares of the business services provider's stock worth $33,000 after purchasing an additional 1,883 shares in the last quarter. 76.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Barrington Research reiterated an "outperform" rating and set a $25.00 price objective on shares of Kelly Services in a research report on Tuesday, February 18th.

Kelly Services Stock Down 1.4 %

Shares of NASDAQ KELYA traded down $0.17 during mid-day trading on Tuesday, reaching $11.31. 10,429 shares of the company's stock traded hands, compared to its average volume of 344,350. The stock has a market cap of $394.41 million, a P/E ratio of -188.30, a PEG ratio of 0.43 and a beta of 1.03. Kelly Services, Inc. has a 1-year low of $10.80 and a 1-year high of $24.01. The business has a 50-day simple moving average of $12.63 and a 200 day simple moving average of $14.37. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.65.

Kelly Services (NASDAQ:KELYA - Get Free Report) last announced its earnings results on Thursday, February 13th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.38. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.15 billion. Kelly Services had a positive return on equity of 6.56% and a negative net margin of 0.01%. On average, analysts expect that Kelly Services, Inc. will post 2.45 EPS for the current fiscal year.

Kelly Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.075 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.30 dividend on an annualized basis and a yield of 2.65%. Kelly Services's payout ratio is -500.00%.

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.