Cwm LLC Sells 5,268 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

Cwm LLC reduced its holdings in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 8.4% during the fourth quarter, HoldingsChannel reports. The firm owned 57,795 shares of the business services provider’s stock after selling 5,268 shares during the period. Cwm LLC’s holdings in Kelly Services were worth $1,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mackenzie Financial Corp increased its position in Kelly Services by 10.7% in the fourth quarter. Mackenzie Financial Corp now owns 43,691 shares of the business services provider’s stock worth $945,000 after buying an additional 4,228 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Kelly Services during the fourth quarter worth about $346,000. Allspring Global Investments Holdings LLC grew its holdings in Kelly Services by 58.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 22,598 shares of the business services provider’s stock valued at $489,000 after buying an additional 8,365 shares in the last quarter. American Century Companies Inc. grew its holdings in Kelly Services by 1.1% during the 3rd quarter. American Century Companies Inc. now owns 295,539 shares of the business services provider’s stock valued at $5,376,000 after buying an additional 3,319 shares in the last quarter. Finally, Comerica Bank bought a new stake in shares of Kelly Services in the 3rd quarter valued at approximately $10,485,000. 76.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Olivier Thirot sold 20,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $24.07, for a total value of $481,400.00. Following the completion of the transaction, the executive vice president now owns 174,793 shares of the company’s stock, valued at approximately $4,207,267.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Olivier Thirot sold 20,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $24.07, for a total value of $481,400.00. Following the completion of the transaction, the executive vice president now owns 174,793 shares of the company’s stock, valued at approximately $4,207,267.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Timothy L. Dupree sold 12,711 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $24.98, for a total value of $317,520.78. Following the completion of the transaction, the senior vice president now directly owns 32,392 shares of the company’s stock, valued at approximately $809,152.16. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.

Kelly Services Stock Performance

Shares of KELYA stock opened at $23.46 on Friday. Kelly Services, Inc. has a 52-week low of $15.53 and a 52-week high of $25.27. The firm has a market capitalization of $827.90 million, a P/E ratio of 23.94, a P/E/G ratio of 1.02 and a beta of 1.18. The stock has a 50 day moving average price of $24.07 and a 200 day moving average price of $21.64.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings results on Thursday, February 15th. The business services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.38. Kelly Services had a return on equity of 6.50% and a net margin of 0.75%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the business posted $0.18 EPS. The business’s revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts forecast that Kelly Services, Inc. will post 1.78 EPS for the current year.

Kelly Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 27th were given a dividend of $0.075 per share. The ex-dividend date was Monday, February 26th. This represents a $0.30 dividend on an annualized basis and a yield of 1.28%. Kelly Services’s dividend payout ratio is currently 30.61%.

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.