Comerica Bank Cuts Position in Kelly Services, Inc. (NASDAQ:KELYA)

Comerica Bank decreased its position in Kelly Services, Inc. (NASDAQ:KELYAGet Rating) by 4.5% in the 1st quarter, Holdings Channel reports. The fund owned 30,282 shares of the business services provider’s stock after selling 1,432 shares during the period. Comerica Bank’s holdings in Kelly Services were worth $637,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Invesco Ltd. grew its position in Kelly Services by 25.5% in the fourth quarter. Invesco Ltd. now owns 1,206,166 shares of the business services provider’s stock valued at $20,227,000 after acquiring an additional 245,200 shares in the last quarter. Paradigm Capital Management Inc. NY grew its position in Kelly Services by 2.1% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 291,825 shares of the business services provider’s stock valued at $4,893,000 after acquiring an additional 6,000 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Kelly Services in the first quarter valued at approximately $4,257,000. Assenagon Asset Management S.A. grew its position in Kelly Services by 30.3% in the first quarter. Assenagon Asset Management S.A. now owns 116,333 shares of the business services provider’s stock valued at $2,523,000 after acquiring an additional 27,018 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Kelly Services in the fourth quarter valued at approximately $1,456,000. Institutional investors and hedge funds own 70.49% of the company’s stock.

Analyst Ratings Changes

Separately, Barrington Research reaffirmed an “outperform” rating on shares of Kelly Services in a research report on Friday, May 27th.

Kelly Services Stock Performance

KELYA stock opened at $21.68 on Friday. The stock has a market capitalization of $822.06 million, a price-to-earnings ratio of 10.63, a PEG ratio of 0.89 and a beta of 0.97. Kelly Services, Inc. has a 1 year low of $15.89 and a 1 year high of $25.00. The stock’s fifty day moving average is $19.61 and its two-hundred day moving average is $19.76.

Kelly Services (NASDAQ:KELYAGet Rating) last released its earnings results on Thursday, May 12th. The business services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.16. Kelly Services had a return on equity of 5.71% and a net margin of 1.66%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the business posted $0.12 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, analysts predict that Kelly Services, Inc. will post 1.83 EPS for the current fiscal year.

Kelly Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 9th. Stockholders of record on Thursday, May 26th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.38%. This is a positive change from Kelly Services’s previous quarterly dividend of $0.05. The ex-dividend date was Wednesday, May 25th. Kelly Services’s payout ratio is currently 14.71%.

Kelly Services Company Profile

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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 direct-hire services in the areas of office, professional, light industrial, and contact center specialties.

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Institutional Ownership by Quarter for Kelly Services (NASDAQ:KELYA)

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