Victory Capital Management Inc. trimmed its position in shares of Kelly Services, Inc. (NASDAQ:KELYA – Free Report) by 22.9% in the 2nd quarter, Holdings Channel reports. The firm owned 32,000 shares of the business services provider’s stock after selling 9,500 shares during the period. Victory Capital Management Inc.’s holdings in Kelly Services were worth $685,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in KELYA. Innealta Capital LLC purchased a new stake in shares of Kelly Services during the second quarter worth $39,000. nVerses Capital LLC acquired a new position in Kelly Services during the second quarter worth about $47,000. SG Americas Securities LLC acquired a new position in Kelly Services during the first quarter worth about $125,000. Lazard Asset Management LLC purchased a new stake in Kelly Services during the 1st quarter valued at about $177,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Kelly Services in the 1st quarter valued at about $221,000. 76.34% of the stock is owned by institutional investors and hedge funds.
Kelly Services Stock Performance
NASDAQ:KELYA opened at $21.18 on Friday. The company’s 50-day moving average is $21.23 and its two-hundred day moving average is $22.29. Kelly Services, Inc. has a 1-year low of $17.40 and a 1-year high of $25.27. 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 firm has a market capitalization of $752.36 million, a price-to-earnings ratio of 15.24, a PEG ratio of 0.65 and a beta of 1.19.
Kelly Services Dividend Announcement
The business also recently disclosed 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 annualized dividend and a yield of 1.42%. Kelly Services’s dividend payout ratio (DPR) is currently 21.58%.
Analysts Set New Price Targets
A number of research firms have recently issued reports on KELYA. StockNews.com lowered Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Barrington Research restated an “outperform” rating and issued a $29.00 target price on shares of Kelly Services in a report on Thursday, August 15th.
Check Out Our Latest Report on Kelly Services
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.
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