Kelly Services, Inc. (NASDAQ:KELYA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Kelly Services, Inc. (NASDAQ:KELYA) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 347,581 shares of the business services provider’s stock after selling 4,615 shares during the period. Bank of New York Mellon Corp owned approximately 0.98% of Kelly Services worth $7,442,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KELYA. Janney Montgomery Scott LLC boosted its holdings in Kelly Services by 11.2% in the 1st 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 period. CX Institutional increased its stake in Kelly Services by 1.8% during the 2nd quarter. CX Institutional now owns 140,583 shares of the business services provider’s stock worth $3,010,000 after buying an additional 2,456 shares during the period. New York State Teachers Retirement System boosted its position in Kelly Services by 5.4% in the 1st quarter. New York State Teachers Retirement System now owns 58,882 shares of the business services provider’s stock valued at $1,474,000 after buying an additional 3,002 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Kelly Services during the first quarter valued at about $125,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Kelly Services by 38.9% during the first quarter. BNP Paribas Financial Markets now owns 22,576 shares of the business services provider’s stock valued at $565,000 after acquiring an additional 6,325 shares in the last quarter. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Kelly Services Stock Up 2.0 %

Shares of Kelly Services stock opened at $20.96 on Thursday. Kelly Services, Inc. has a 1-year low of $17.40 and a 1-year high of $25.27. The company has a market capitalization of $744.54 million, a P/E ratio of 15.08, a PEG ratio of 0.62 and a beta of 1.19. The business’s fifty day moving average price is $21.22 and its two-hundred day moving average price is $22.46. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.61.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.15. Kelly Services had a net margin of 1.09% and a return on equity of 7.82%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm earned $0.36 EPS. Kelly Services’s revenue was down 13.1% on a year-over-year basis. As a group, research analysts forecast that Kelly Services, Inc. will post 2.49 EPS for the current year.

Kelly Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.30 annualized dividend and a dividend yield of 1.43%. Kelly Services’s dividend payout ratio is currently 21.58%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on KELYA shares. StockNews.com lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Barrington Research reissued an “outperform” rating and issued a $29.00 target price on shares of Kelly Services in a research report on Thursday, August 15th.

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.