Creative Planning Buys Shares of 9,499 Kelly Services, Inc. (NASDAQ:KELYA)

Creative Planning purchased a new stake in Kelly Services, Inc. (NASDAQ:KELYA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,499 shares of the business services provider’s stock, valued at approximately $203,000.

A number of other hedge funds also recently made changes to their positions in the stock. Federated Hermes Inc. boosted its position in Kelly Services by 6.8% during the 2nd quarter. Federated Hermes Inc. now owns 10,454 shares of the business services provider’s stock worth $224,000 after buying an additional 668 shares during the period. Bailard Inc. boosted its position in Kelly Services by 6.9% during the 2nd quarter. Bailard Inc. now owns 10,874 shares of the business services provider’s stock worth $233,000 after buying an additional 700 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in Kelly Services during the 2nd quarter worth approximately $30,000. Innealta Capital LLC acquired a new stake in Kelly Services during the 2nd quarter worth approximately $39,000. Finally, nVerses Capital LLC acquired a new stake in Kelly Services during the 2nd quarter worth approximately $47,000. 76.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on KELYA shares. 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. StockNews.com downgraded shares of Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th.

Kelly Services Price Performance

Shares of NASDAQ:KELYA opened at $16.23 on Tuesday. The company has a market capitalization of $577.30 million, a P/E ratio of 14.11, a price-to-earnings-growth ratio of 0.51 and a beta of 1.20. Kelly Services, Inc. has a fifty-two week low of $16.17 and a fifty-two week high of $25.27. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.61 and a current ratio of 1.61. The company’s 50-day moving average is $20.36 and its 200 day moving average is $21.28.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.23). Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company earned $0.50 earnings per share. The company’s quarterly revenue was down 7.1% on a year-over-year basis. On average, equities research analysts forecast that Kelly Services, Inc. will post 2.49 earnings per share for the current year.

Kelly Services Announces Dividend

The business 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 $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Wednesday, November 20th. Kelly Services’s dividend payout ratio is currently 26.09%.

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.