Allspring Global Investments Holdings LLC lifted its position in Kelly Services, Inc. (NASDAQ:KELYA – Free Report) by 1,730.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 234,057 shares of the business services provider’s stock after buying an additional 221,271 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.66% of Kelly Services worth $5,011,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Kelly Services during the 2nd quarter valued at about $30,000. Innealta Capital LLC acquired a new position in Kelly Services during the second quarter valued at approximately $39,000. nVerses Capital LLC bought a new position in shares of Kelly Services in the second quarter valued at approximately $47,000. Meeder Asset Management Inc. acquired a new position in Kelly Services in the 2nd quarter valued at $51,000. Finally, SG Americas Securities LLC bought a new position in Kelly Services in the 1st quarter worth $125,000. Institutional investors and hedge funds own 76.34% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. StockNews.com downgraded Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Barrington Research restated an “outperform” rating and issued a $29.00 price target on shares of Kelly Services in a research report on Friday, September 27th.
Kelly Services Stock Performance
Shares of Kelly Services stock opened at $19.46 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market cap of $691.26 million, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 0.61 and a beta of 1.19. The stock’s 50-day moving average is $20.65 and its 200-day moving average is $21.59. Kelly Services, Inc. has a one year low of $17.47 and a one year high of $25.27.
Kelly Services (NASDAQ:KELYA – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.56 by $0.15. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Kelly Services had a net margin of 1.09% and a return on equity of 7.82%. The company’s revenue for the quarter was down 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 EPS. Equities analysts predict that Kelly Services, Inc. will post 2.49 earnings per share for the current fiscal year.
Kelly Services Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were paid a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.30 annualized dividend and a yield of 1.54%. Kelly Services’s dividend payout ratio 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.
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