AQR Capital Management LLC Boosts Stake in Kelly Services, Inc. (NASDAQ:KELYA)

AQR Capital Management LLC boosted its holdings in Kelly Services, Inc. (NASDAQ:KELYA) by 5.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 371,548 shares of the business services provider’s stock after acquiring an additional 20,520 shares during the quarter. AQR Capital Management LLC owned about 1.05% of Kelly Services worth $7,955,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Federated Hermes Inc. increased its position in Kelly Services by 6.8% during the second quarter. Federated Hermes Inc. now owns 10,454 shares of the business services provider’s stock worth $224,000 after buying an additional 668 shares in the last quarter. Bailard Inc. raised its stake in Kelly Services by 6.9% in the 2nd quarter. Bailard Inc. now owns 10,874 shares of the business services provider’s stock valued at $233,000 after purchasing an additional 700 shares during the last quarter. Innealta Capital LLC acquired a new position in Kelly Services in the 2nd quarter valued at $39,000. nVerses Capital LLC purchased a new position in shares of Kelly Services during the 2nd quarter worth $47,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Kelly Services during the second quarter worth $51,000. Institutional investors and hedge funds own 76.34% of the company’s stock.

Kelly Services Trading Down 1.6 %

KELYA stock opened at $20.66 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The company has a market cap of $733.88 million, a price-to-earnings ratio of 15.04, a PEG ratio of 0.65 and a beta of 1.19. The business has a fifty day simple moving average of $21.02 and a 200-day simple moving average of $22.10. Kelly Services, Inc. has a 52 week low of $17.40 and a 52 week high of $25.27.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.15. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Kelly Services had a return on equity of 7.82% and a net margin of 1.09%. The company’s revenue was down 13.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. On average, equities research analysts expect that Kelly Services, Inc. will post 2.49 EPS for the current year.

Kelly Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Wednesday, August 21st. Kelly Services’s dividend payout ratio is presently 21.58%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Barrington Research reiterated an “outperform” rating and set a $29.00 target price on shares of Kelly Services in a research report on Friday, September 27th. StockNews.com lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th.

Kelly Services 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.