Cwm LLC Sells 1,343 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

Cwm LLC trimmed its stake in Kelly Services, Inc. (NASDAQ:KELYA) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,197 shares of the business services provider’s stock after selling 1,343 shares during the period. Cwm LLC owned approximately 0.13% of Kelly Services worth $968,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in Kelly Services by 67.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 37,763 shares of the business services provider’s stock valued at $946,000 after acquiring an additional 15,165 shares during the last quarter. Wasatch Advisors LP bought a new position in shares of Kelly Services during the 1st quarter valued at about $1,434,000. BNP Paribas Financial Markets raised its holdings in shares of Kelly Services by 38.9% during the 1st quarter. BNP Paribas Financial Markets now owns 22,576 shares of the business services provider’s stock valued at $565,000 after buying an additional 6,325 shares in the last quarter. Janney Montgomery Scott LLC lifted its position 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 buying an additional 2,405 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Kelly Services by 3.4% in the first quarter. LSV Asset Management now owns 585,429 shares of the business services provider’s stock worth $14,659,000 after buying an additional 19,100 shares in the last quarter. 76.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KELYA has been the subject of a number of research reports. StockNews.com cut shares of Kelly Services from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Barrington Research restated an “outperform” rating and set a $29.00 price target on shares of Kelly Services in a research report on Friday, September 27th.

Kelly Services Stock Performance

Shares of KELYA stock opened at $20.65 on Friday. The company has a market capitalization of $733.53 million, a P/E ratio of 14.86, a PEG ratio of 0.63 and a beta of 1.19. Kelly Services, Inc. has a fifty-two week low of $17.40 and a fifty-two week high of $25.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a 50 day moving average price of $20.65 and a two-hundred day moving average price of $21.82.

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

Kelly Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were issued a dividend of $0.075 per share. 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 1.45%. Kelly Services’s dividend payout ratio is presently 21.58%.

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.