Kelly Services, Inc. (NASDAQ:KELYA) Holdings Trimmed by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its holdings in Kelly Services, Inc. (NASDAQ:KELYA) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,899 shares of the business services provider’s stock after selling 1,201 shares during the period. Wells Fargo & Company MN owned approximately 0.11% of Kelly Services worth $528,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Versant Capital Management Inc increased its stake in Kelly Services by 367.1% in the 4th quarter. Versant Capital Management Inc now owns 2,396 shares of the business services provider’s stock valued at $33,000 after buying an additional 1,883 shares during the period. KBC Group NV increased its stake in shares of Kelly Services by 109.1% in the fourth quarter. KBC Group NV now owns 3,886 shares of the business services provider’s stock worth $54,000 after acquiring an additional 2,028 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Kelly Services by 49.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,277 shares of the business services provider’s stock worth $60,000 after acquiring an additional 1,406 shares during the last quarter. Palouse Capital Management Inc. boosted its position in Kelly Services by 13.1% during the fourth quarter. Palouse Capital Management Inc. now owns 8,194 shares of the business services provider’s stock valued at $114,000 after purchasing an additional 950 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Kelly Services by 3,062.7% in the fourth quarter. GAMMA Investing LLC now owns 9,330 shares of the business services provider’s stock valued at $130,000 after purchasing an additional 9,035 shares in the last quarter. Institutional investors and hedge funds own 76.34% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an “outperform” rating and set a $25.00 price target on shares of Kelly Services in a research note on Tuesday, February 18th.

Kelly Services Stock Performance

KELYA stock opened at $11.73 on Friday. The firm has a 50 day moving average of $12.45 and a two-hundred day moving average of $14.17. Kelly Services, Inc. has a 12 month low of $10.80 and a 12 month high of $23.97. The company has a market capitalization of $409.24 million, a price-to-earnings ratio of -195.47, a P/E/G ratio of 0.43 and a beta of 1.03. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.19.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.38. Kelly Services had a negative net margin of 0.01% and a positive return on equity of 6.56%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.15 billion. As a group, equities analysts anticipate that Kelly Services, Inc. will post 2.45 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, February 26th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend was Wednesday, February 26th. Kelly Services’s payout ratio is -500.00%.

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.