Vanguard Group Inc. Cuts Holdings in Kelly Services, Inc. (NASDAQ:KELYA)

Vanguard Group Inc. decreased its position in Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 30.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,518,320 shares of the business services provider's stock after selling 1,088,094 shares during the quarter. Vanguard Group Inc. owned approximately 7.07% of Kelly Services worth $35,105,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in shares of Kelly Services by 367.1% in the 4th quarter. Versant Capital Management Inc now owns 2,396 shares of the business services provider's stock worth $33,000 after buying an additional 1,883 shares during the last quarter. KBC Group NV boosted its stake in Kelly Services by 109.1% in the fourth quarter. KBC Group NV now owns 3,886 shares of the business services provider's stock valued at $54,000 after acquiring an additional 2,028 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of Kelly Services by 49.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,277 shares of the business services provider's stock valued at $60,000 after acquiring an additional 1,406 shares during the period. Palouse Capital Management Inc. raised its holdings in shares of Kelly Services by 13.1% in the 4th quarter. Palouse Capital Management Inc. now owns 8,194 shares of the business services provider's stock worth $114,000 after purchasing an additional 950 shares during the period. Finally, GAMMA Investing LLC increased its position in Kelly Services by 3,062.7% in the fourth quarter. GAMMA Investing LLC now owns 9,330 shares of the business services provider's stock worth $130,000 after buying an additional 9,035 shares during the last quarter. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Kelly Services Stock Performance

Shares of KELYA stock traded down $0.10 during trading on Friday, reaching $11.18. 333,398 shares of the company's stock traded hands, compared to its average volume of 343,704. The firm's 50-day moving average is $12.97 and its 200 day moving average is $14.90. The company has a market capitalization of $390.05 million, a P/E ratio of -186.30, a PEG ratio of 0.43 and a beta of 1.03. Kelly Services, Inc. has a 1 year low of $11.00 and a 1 year high of $24.25. 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 (NASDAQ:KELYA - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The business services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.38. The company 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 research analysts expect that Kelly Services, Inc. will post 2.45 EPS for the current year.

Kelly Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th were given a $0.075 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.68%. Kelly Services's dividend payout ratio (DPR) is currently -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.