Kelly Services, Inc. (NASDAQ:KELYA) Short Interest Down 11.8% in June

Kelly Services, Inc. (NASDAQ:KELYA) was the target of a significant decrease in short interest in June. As of June 15th, there was short interest totalling 737,600 shares, a decrease of 11.8% from the May 31st total of 836,400 shares. Based on an average daily volume of 231,500 shares, the days-to-cover ratio is presently 3.2 days. Currently, 2.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Kelly Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC grew its holdings in Kelly Services by 2.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 64,668 shares of the business services provider’s stock valued at $1,398,000 after purchasing an additional 1,520 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Kelly Services by 11.2% in the first quarter. Janney Montgomery Scott LLC now owns 23,939 shares of the business services provider’s stock worth $599,000 after acquiring an additional 2,405 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Kelly Services by 5.4% in the first quarter. New York State Teachers Retirement System now owns 58,882 shares of the business services provider’s stock worth $1,474,000 after acquiring an additional 3,002 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Kelly Services by 1.1% in the third quarter. American Century Companies Inc. now owns 295,539 shares of the business services provider’s stock worth $5,376,000 after acquiring an additional 3,319 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Kelly Services by 10.7% in the fourth quarter. Mackenzie Financial Corp now owns 43,691 shares of the business services provider’s stock worth $945,000 after acquiring an additional 4,228 shares during the last quarter. Institutional investors and hedge funds own 76.34% of the company’s stock.

Kelly Services Stock Performance

Shares of KELYA opened at $21.33 on Wednesday. The firm has a market cap of $757.64 million, a PE ratio of 15.35, a PEG ratio of 0.77 and a beta of 1.22. The firm’s 50 day moving average price is $22.26 and its 200 day moving average price is $22.47. Kelly Services has a twelve month low of $16.80 and a twelve month high of $25.27.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.10. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. Kelly Services had a net margin of 1.11% and a return on equity of 6.87%. On average, sell-side analysts anticipate that Kelly Services will post 2.13 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $0.30 annualized dividend and a yield of 1.41%. Kelly Services’s dividend payout ratio (DPR) is presently 21.58%.

Analyst Upgrades and Downgrades

Separately, Barrington Research reaffirmed an “outperform” rating and set a $29.00 price objective on shares of Kelly Services in a research report on Tuesday, May 28th.

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.