Kelly Services, Inc. (NASDAQ:KELYA) Stake Cut by Martingale Asset Management L P

Martingale Asset Management L P decreased its position in Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 74.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,500 shares of the business services provider's stock after selling 68,786 shares during the quarter. Martingale Asset Management L P owned 0.07% of Kelly Services worth $328,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in shares of Kelly Services in the fourth quarter worth about $5,343,000. Federated Hermes Inc. lifted its stake in Kelly Services by 9.6% in the fourth quarter. Federated Hermes Inc. now owns 12,240 shares of the business services provider's stock valued at $171,000 after buying an additional 1,076 shares during the last quarter. Aristides Capital LLC acquired a new position in Kelly Services during the 4th quarter valued at about $212,000. Integrated Quantitative Investments LLC acquired a new position in shares of Kelly Services during the fourth quarter worth approximately $262,000. Finally, Foundry Partners LLC boosted its position in Kelly Services by 29.1% during the 4th quarter. Foundry Partners LLC now owns 272,610 shares of the business services provider's stock worth $3,800,000 after acquiring an additional 61,425 shares during the period. Hedge funds and other institutional investors own 76.34% of the company's stock.

Wall Street Analyst Weigh In

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

Kelly Services Price Performance

NASDAQ:KELYA traded down $0.10 during midday trading on Friday, hitting $11.18. 333,398 shares of the stock were exchanged, compared to its average volume of 342,764. The company has a market capitalization of $390.05 million, a price-to-earnings ratio of -186.30, a P/E/G ratio of 0.43 and a beta of 1.03. 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 one year low of $11.00 and a one year high of $24.25. The business has a 50-day moving average price of $12.97 and a two-hundred day moving average price of $14.90.

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

Kelly Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, February 26th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Wednesday, February 26th. 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.