State of Tennessee Treasury Department reduced its position in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 48.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,232 shares of the business services provider’s stock after selling 12,480 shares during the period. State of Tennessee Treasury Department’s holdings in Kelly Services were worth $320,000 at the end of the most recent quarter.
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Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CWM LLC purchased a new position in Kelly Services in the 3rd quarter worth approximately $25,000. Quantamental Technologies LLC bought a new stake in shares of Kelly Services in the 2nd quarter worth approximately $35,000. Dupont Capital Management Corp bought a new stake in shares of Kelly Services in the 3rd quarter worth approximately $63,000. Panagora Asset Management Inc. lifted its holdings in shares of Kelly Services by 20.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 3,618 shares of the business services provider’s stock worth $95,000 after acquiring an additional 618 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Kelly Services by 22.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,900 shares of the business services provider’s stock worth $128,000 after acquiring an additional 900 shares during the last quarter. 66.08% of the stock is currently owned by institutional investors.
Shares of KELYA stock opened at $21.37 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.52 and a current ratio of 1.52. The company has a market capitalization of $817.42 million, a price-to-earnings ratio of 9.41 and a beta of 0.75. The company’s 50-day moving average is $22.87 and its 200 day moving average is $24.81. Kelly Services, Inc. has a one year low of $19.21 and a one year high of $28.91.
Kelly Services (NASDAQ:KELYA) last posted its earnings results on Wednesday, November 6th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.09). Kelly Services had a net margin of 1.32% and a return on equity of 7.66%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company posted $0.56 EPS. Kelly Services’s revenue was down 5.6% on a year-over-year basis. As a group, research analysts predict that Kelly Services, Inc. will post 2.17 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 20th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Tuesday, November 19th. Kelly Services’s dividend payout ratio (DPR) is presently 13.22%.
KELYA has been the subject of a number of recent research reports. ValuEngine lowered shares of Kelly Services from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. Northcoast Research lowered shares of Kelly Services from a “buy” rating to a “neutral” rating in a report on Wednesday, August 28th. Zacks Investment Research lowered shares of Kelly Services from a “hold” rating to a “sell” rating in a report on Saturday, November 9th. Noble Financial set a $32.00 price objective on shares of Kelly Services and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, TheStreet downgraded shares of Kelly Services from a “b” rating to a “c+” rating in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. Kelly Services currently has a consensus rating of “Hold” and a consensus price target of $29.50.
In other Kelly Services news, CEO George S. Corona sold 29,110 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $25.18, for a total transaction of $732,989.80. Following the sale, the chief executive officer now owns 213,311 shares in the company, valued at approximately $5,371,170.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.20% of the stock is currently owned by company insiders.
Kelly Services Profile
Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions, and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.
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