Kelly Services, Inc. (NASDAQ:KELYA) Stake Cut by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its holdings in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 7.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,068 shares of the business services provider’s stock after selling 3,987 shares during the period. Los Angeles Capital Management LLC’s holdings in Kelly Services were worth $1,115,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. O Shaughnessy Asset Management LLC boosted its position in Kelly Services by 73.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 59,416 shares of the business services provider’s stock valued at $1,488,000 after purchasing an additional 25,219 shares during the period. Foundry Partners LLC grew its position in shares of Kelly Services by 21.7% during the second quarter. Foundry Partners LLC now owns 183,690 shares of the business services provider’s stock worth $3,933,000 after acquiring an additional 32,770 shares during the last quarter. Boston Partners acquired a new stake in shares of Kelly Services in the 1st quarter worth about $18,618,000. Allspring Global Investments Holdings LLC lifted its position in Kelly Services by 1,730.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 234,057 shares of the business services provider’s stock valued at $5,011,000 after purchasing an additional 221,271 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Kelly Services by 178.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 155,604 shares of the business services provider’s stock valued at $3,331,000 after purchasing an additional 99,699 shares during the period. 76.34% of the stock is owned by institutional investors and hedge funds.

Kelly Services Stock Performance

Shares of KELYA opened at $15.05 on Friday. Kelly Services, Inc. has a 52-week low of $14.98 and a 52-week high of $25.27. The firm has a market capitalization of $535.33 million, a PE ratio of 13.09, a P/E/G ratio of 0.59 and a beta of 1.20. The firm has a 50-day moving average price of $20.06 and a 200 day moving average price of $21.12. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.18.

Kelly Services (NASDAQ:KELYA) last announced its earnings results on Thursday, November 7th. The business services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.23). The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.07 billion. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. Kelly Services’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. On average, sell-side analysts anticipate that Kelly Services, Inc. will post 2.07 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.075 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.30 annualized dividend and a yield of 1.99%. Kelly Services’s dividend payout ratio is currently 26.09%.

Wall Street Analyst Weigh In

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

About Kelly Services

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.