Airain ltd purchased a new stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 17,391 shares of the business services provider’s stock, valued at approximately $390,000.
Several other institutional investors and hedge funds also recently made changes to their positions in KELYA. Prudential Financial Inc. grew its position in Kelly Services by 34.2% during the second quarter. Prudential Financial Inc. now owns 67,488 shares of the business services provider’s stock valued at $1,515,000 after acquiring an additional 17,200 shares during the last quarter. Victory Capital Management Inc. grew its position in Kelly Services by 17.6% during the second quarter. Victory Capital Management Inc. now owns 8,484 shares of the business services provider’s stock valued at $190,000 after acquiring an additional 1,271 shares during the last quarter. Virginia Retirement Systems ET AL bought a new position in Kelly Services during the second quarter valued at approximately $364,000. KBC Group NV grew its position in Kelly Services by 20.8% during the second quarter. KBC Group NV now owns 44,083 shares of the business services provider’s stock valued at $990,000 after acquiring an additional 7,602 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in Kelly Services by 49.1% during the second quarter. BNP Paribas Arbitrage SA now owns 12,079 shares of the business services provider’s stock valued at $271,000 after acquiring an additional 3,976 shares during the last quarter. Hedge funds and other institutional investors own 65.75% of the company’s stock.
Shares of Kelly Services, Inc. (NASDAQ KELYA) opened at 21.99 on Friday. The stock’s 50 day moving average price is $21.86 and its 200-day moving average price is $22.13. The stock has a market cap of $842.39 million, a price-to-earnings ratio of 6.59 and a beta of 0.98. Kelly Services, Inc. has a 1-year low of $18.06 and a 1-year high of $24.70.
Kelly Services (NASDAQ:KELYA) last announced its earnings results on Wednesday, August 9th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.24. Kelly Services had a return on equity of 6.88% and a net margin of 2.58%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company posted $0.29 EPS. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities research analysts forecast that Kelly Services, Inc. will post $1.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 22nd were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Friday, August 18th. Kelly Services’s dividend payout ratio is currently 8.85%.
A number of brokerages have commented on KELYA. Zacks Investment Research upgraded shares of Kelly Services from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Friday, August 11th. ValuEngine upgraded shares of Kelly Services from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Finally, BidaskClub lowered Kelly Services from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st.
Kelly Services Profile
Kelly Services, Inc is a workforce solutions provider, which is engaged in offering a range of specialty services. The Company provides workforce solutions in three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). The Company’s segments are Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), and Outsourcing and Consulting Group (OCG).
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