New York State Teachers Retirement System Lowers Stock Holdings in Kelly Services, Inc. (NASDAQ:KELYA)

New York State Teachers Retirement System lowered its holdings in Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 94.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,102 shares of the business services provider's stock after selling 53,280 shares during the quarter. New York State Teachers Retirement System's holdings in Kelly Services were worth $43,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of KELYA. State Street Corp raised its position in shares of Kelly Services by 1.4% in 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 during the last quarter. Pacer Advisors Inc. boosted its stake in shares of 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 worth $25,944,000 after acquiring an additional 380,035 shares in the last quarter. Geode Capital Management LLC grew its holdings in Kelly Services by 1.2% in the third 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 during the period. Jacobs Levy Equity Management Inc. grew its stake in Kelly Services by 20.6% in the 3rd 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 period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Kelly Services by 1,730.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 234,057 shares of the business services provider's stock worth $5,011,000 after purchasing an additional 221,271 shares in the last quarter. Hedge funds and other institutional investors own 76.34% of the company's stock.

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Analysts Set New Price Targets

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

Kelly Services Price Performance

NASDAQ KELYA traded up $0.06 during trading hours on Friday, hitting $13.47. 327,621 shares of the company's stock traded hands, compared to its average volume of 338,462. The company has a market capitalization of $469.94 million, a PE ratio of -224.46, a PEG ratio of 0.43 and a beta of 1.11. 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, Inc. has a 52-week low of $12.68 and a 52-week high of $25.27. The firm's 50-day moving average is $13.79 and its 200-day moving average is $16.93.

Kelly Services (NASDAQ:KELYA - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The business services provider reported $0.82 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 analysts' expectations of $1.15 billion. Kelly Services had a positive return on equity of 6.56% and a negative net margin of 0.01%. Equities analysts forecast that Kelly Services, Inc. will post 2.45 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.30 annualized dividend and a dividend yield of 2.23%. Kelly Services's payout ratio is -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.