Exchange Traded Concepts LLC Takes $781,000 Position in Kelly Services, Inc. (NASDAQ:KELYA)

Exchange Traded Concepts LLC acquired a new position in Kelly Services, Inc. (NASDAQ:KELYA - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 36,459 shares of the business services provider's stock, valued at approximately $781,000. Exchange Traded Concepts LLC owned 0.10% of Kelly Services at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. grew its holdings in shares of Kelly Services by 6.8% in the second quarter. Federated Hermes Inc. now owns 10,454 shares of the business services provider's stock worth $224,000 after purchasing an additional 668 shares during the last quarter. Bailard Inc. grew its stake in Kelly Services by 6.9% in the 2nd quarter. Bailard Inc. now owns 10,874 shares of the business services provider's stock worth $233,000 after acquiring an additional 700 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Kelly Services during the second quarter worth approximately $30,000. Innealta Capital LLC purchased a new position in shares of Kelly Services during the second quarter worth approximately $39,000. Finally, nVerses Capital LLC purchased a new stake in shares of Kelly Services in the second quarter valued at approximately $47,000. Institutional investors own 76.34% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KELYA. StockNews.com cut shares of Kelly Services from a "buy" rating to a "hold" rating in a research report on Friday, August 9th. Barrington Research restated an "outperform" rating and set a $29.00 price target on shares of Kelly Services in a research note on Friday, September 27th.

Kelly Services Price Performance

Shares of Kelly Services stock traded down $0.48 during trading hours on Friday, reaching $20.17. The stock had a trading volume of 126,326 shares, compared to its average volume of 227,453. The stock's 50 day moving average is $20.69 and its 200 day moving average is $21.80. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.16. Kelly Services, Inc. has a twelve month low of $17.40 and a twelve month high of $25.27. The firm has a market capitalization of $716.48 million, a PE ratio of 14.51, a PEG ratio of 0.63 and a beta of 1.19.

Kelly Services (NASDAQ:KELYA - Get Free Report) last announced its earnings results on Thursday, August 8th. The business services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.15. Kelly Services had a return on equity of 7.82% and a net margin of 1.09%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the company posted $0.36 EPS. The business's quarterly revenue was down 13.1% on a year-over-year basis. Equities analysts expect that Kelly Services, Inc. will post 2.49 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Wednesday, August 21st. Kelly Services's dividend payout ratio is presently 21.58%.

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.