Allspring Global Investments Holdings LLC Has $5.01 Million Stock Position in Kelly Services, Inc. (NASDAQ:KELYA)

Allspring Global Investments Holdings LLC increased its holdings in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 1,730.6% during the third quarter, Holdings Channel.com reports. The fund owned 234,057 shares of the business services provider’s stock after purchasing an additional 221,271 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Kelly Services were worth $5,011,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Federated Hermes Inc. grew its stake 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. increased its stake in Kelly Services by 6.9% in the second quarter. Bailard Inc. now owns 10,874 shares of the business services provider’s stock valued at $233,000 after acquiring an additional 700 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Kelly Services in the second quarter valued at approximately $30,000. Innealta Capital LLC bought a new stake in Kelly Services during the second quarter worth $39,000. Finally, nVerses Capital LLC bought a new stake in Kelly Services during the second quarter worth $47,000. Institutional investors and hedge funds own 76.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KELYA. StockNews.com cut Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Barrington Research reissued an “outperform” rating and set a $29.00 target price on shares of Kelly Services in a research note on Friday, September 27th.

Kelly Services Stock Down 1.5 %

Shares of KELYA opened at $19.46 on Monday. The stock has a market capitalization of $691.26 million, a price-to-earnings ratio of 14.00, a PEG ratio of 0.61 and a beta of 1.19. Kelly Services, Inc. has a 52 week low of $17.47 and a 52 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 fifty day moving average of $20.65 and a 200-day moving average of $21.59.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.71 earnings per share 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 company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the business posted $0.36 earnings per share. The business’s quarterly revenue was down 13.1% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given 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 dividend yield of 1.54%. Kelly Services’s dividend payout ratio (DPR) 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.