Charles Schwab Investment Management Inc. lessened its holdings in shares of Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 22.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 762,543 shares of the business services provider's stock after selling 225,234 shares during the period. Charles Schwab Investment Management Inc. owned 2.14% of Kelly Services worth $16,326,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Kelly Services in the 2nd quarter valued at $30,000. Innealta Capital LLC bought a new stake in Kelly Services during the second quarter valued at $39,000. nVerses Capital LLC bought a new stake in Kelly Services during the second quarter valued at $47,000. Meeder Asset Management Inc. acquired a new stake in Kelly Services during the 2nd quarter worth about $51,000. Finally, Quest Partners LLC bought a new position in shares of Kelly Services in the 3rd quarter worth about $158,000. Institutional investors own 76.34% of the company's stock.
Insider Buying and Selling at Kelly Services
In other Kelly Services news, SVP Daniel H. Malan purchased 3,500 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average cost of $13.88 per share, for a total transaction of $48,580.00. Following the purchase, the senior vice president now owns 95,906 shares of the company's stock, valued at $1,331,175.28. This represents a 3.79 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.90% of the company's stock.
Analyst Ratings Changes
Separately, Barrington Research decreased their price target 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.
Read Our Latest Report on KELYA
Kelly Services Stock Up 0.9 %
Shares of KELYA stock traded up $0.13 on Friday, hitting $14.33. The stock had a trading volume of 447,743 shares, compared to its average volume of 384,951. Kelly Services, Inc. has a 12-month low of $13.71 and a 12-month high of $25.27. The stock has a market cap of $510.29 million, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 0.57 and a beta of 1.12. The business has a 50 day moving average of $17.97 and a 200 day moving average of $20.14. 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 business had revenue of $1.04 billion during the quarter, compared to analysts' expectations 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 period in the prior year, the firm posted $0.50 EPS. As a group, analysts expect that Kelly Services, Inc. will post 1.93 EPS for the current year.
Kelly Services Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Wednesday, November 20th. Kelly Services's dividend payout ratio is currently 26.09%.
Kelly Services Profile
(
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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