Pacer Advisors Inc. increased its position in Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 45.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,211,791 shares of the business services provider's stock after buying an additional 380,035 shares during the period. Pacer Advisors Inc. owned 3.41% of Kelly Services worth $25,944,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. raised its holdings in Kelly Services by 6.8% during the second quarter. Federated Hermes Inc. now owns 10,454 shares of the business services provider's stock worth $224,000 after buying an additional 668 shares during the last quarter. Bailard Inc. increased its position in shares of Kelly Services by 6.9% during the second 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. US Bancorp DE lifted its position in Kelly Services by 9.3% in the 3rd quarter. US Bancorp DE now owns 10,135 shares of the business services provider's stock valued at $217,000 after acquiring an additional 866 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Kelly Services during the 2nd quarter valued at about $30,000. Finally, Innealta Capital LLC bought a new stake in Kelly Services during the 2nd quarter worth approximately $39,000. 76.34% of the stock is owned by institutional investors.
Insider Buying and Selling at Kelly Services
In related news, SVP Daniel H. Malan acquired 3,500 shares of the stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average price of $13.88 per share, for a total transaction of $48,580.00. Following the transaction, the senior vice president now owns 95,906 shares in the company, valued at $1,331,175.28. This represents a 3.79 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.90% of the company's stock.
Kelly Services Stock Performance
KELYA stock traded up $0.48 during midday trading on Friday, reaching $14.40. 519,359 shares of the company's stock traded hands, compared to its average volume of 297,991. Kelly Services, Inc. has a 52 week low of $13.71 and a 52 week high of $25.27. The company has a 50-day moving average price of $19.29 and a two-hundred day moving average price of $20.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market capitalization of $512.78 million, a PE ratio of 12.52, a price-to-earnings-growth ratio of 0.55 and a beta of 1.20.
Kelly Services (NASDAQ:KELYA - Get Free Report) last announced its quarterly earnings results 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). Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company earned $0.50 earnings per share. The company's quarterly revenue was down 7.1% on a year-over-year basis. As a group, equities analysts anticipate that Kelly Services, Inc. will post 1.93 EPS for the current year.
Kelly Services Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be paid a $0.075 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $0.30 dividend on an annualized basis and a yield of 2.08%. Kelly Services's dividend payout ratio is currently 26.09%.
Analyst Ratings Changes
Several analysts have recently issued reports on the stock. Barrington Research reduced their target price 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. StockNews.com downgraded shares of Kelly Services from a "buy" rating to a "hold" rating in a research report on Friday, August 9th.
View Our Latest Research Report on Kelly Services
Kelly Services Company 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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