Brandes Investment Partners LP Acquires 7,576 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

Brandes Investment Partners LP boosted its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 36.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,512 shares of the business services provider’s stock after purchasing an additional 7,576 shares during the quarter. Brandes Investment Partners LP owned about 0.08% of Kelly Services worth $610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in shares of Kelly Services by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,707,721 shares of the business services provider’s stock worth $57,972,000 after purchasing an additional 21,230 shares in the last quarter. Boston Partners acquired a new stake in Kelly Services in the first quarter worth about $18,618,000. American Century Companies Inc. grew its stake in shares of Kelly Services by 35.9% during the second quarter. American Century Companies Inc. now owns 682,857 shares of the business services provider’s stock worth $14,620,000 after acquiring an additional 180,238 shares during the last quarter. LSV Asset Management increased its holdings in shares of Kelly Services by 5.2% during the second quarter. LSV Asset Management now owns 615,729 shares of the business services provider’s stock valued at $13,183,000 after acquiring an additional 30,300 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Kelly Services by 5.8% in the 2nd quarter. AQR Capital Management LLC now owns 371,548 shares of the business services provider’s stock valued at $7,955,000 after purchasing an additional 20,520 shares during the last quarter. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Analysts Set New Price Targets

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

Kelly Services Stock Performance

NASDAQ:KELYA opened at $21.41 on Tuesday. Kelly Services, Inc. has a 12 month low of $17.40 and a 12 month high of $25.27. The firm has a market capitalization of $760.53 million, a PE ratio of 15.40, a price-to-earnings-growth ratio of 0.65 and a beta of 1.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.61. The business’s fifty day moving average price is $21.09 and its 200 day moving average price is $22.15.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.15. Kelly Services had a return on equity of 7.82% and a net margin of 1.09%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. Kelly Services’s revenue was down 13.1% on a year-over-year basis. On average, sell-side analysts anticipate that Kelly Services, Inc. will post 2.49 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were issued a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.30 dividend on an annualized basis and a yield of 1.40%. Kelly Services’s payout ratio is 21.58%.

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.