First Trust Advisors LP Sells 7,994 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

First Trust Advisors LP cut its position in Kelly Services, Inc. (NASDAQ:KELYA) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,954 shares of the business services provider’s stock after selling 7,994 shares during the period. First Trust Advisors LP owned about 0.30% of Kelly Services worth $1,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of KELYA. Barclays PLC increased its holdings in Kelly Services by 238.0% in the 3rd quarter. Barclays PLC now owns 63,638 shares of the business services provider’s stock valued at $1,362,000 after acquiring an additional 44,811 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Kelly Services by 367.1% in the fourth quarter. Versant Capital Management Inc now owns 2,396 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 1,883 shares in the last quarter. GAMMA Investing LLC increased its position 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 worth $130,000 after purchasing an additional 9,035 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in Kelly Services by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 37,404 shares of the business services provider’s stock valued at $521,000 after purchasing an additional 945 shares in the last quarter. Finally, KBC Group NV lifted its position in Kelly Services by 109.1% during the fourth quarter. KBC Group NV now owns 3,886 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 2,028 shares during the last quarter. 76.34% of the stock is currently owned by institutional investors.

Kelly Services Price Performance

Shares of Kelly Services stock opened at $11.46 on Wednesday. The stock has a 50 day moving average price of $12.38 and a 200-day moving average price of $14.04. Kelly Services, Inc. has a one year low of $10.80 and a one year high of $23.85. The stock has a market cap of $399.82 million, a price-to-earnings ratio of -190.97, a price-to-earnings-growth ratio of 0.43 and a beta of 0.96. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.65 and a current ratio of 1.65.

Kelly Services (NASDAQ:KELYA) last announced its earnings results on Thursday, February 13th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.38. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.15 billion. Kelly Services had a positive return on equity of 6.56% and a negative net margin of 0.01%. Equities analysts expect that Kelly Services, Inc. will post 2.45 EPS for the current year.

Kelly Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Wednesday, February 26th. Kelly Services’s dividend payout ratio is presently -500.00%.

Wall Street Analysts Forecast Growth

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

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.