Teacher Retirement System of Texas Lowers Stock Holdings in Kelly Services, Inc. (NASDAQ:KELYA)

Teacher Retirement System of Texas reduced its position in Kelly Services, Inc. (NASDAQ:KELYA) by 31.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 103,758 shares of the business services provider’s stock after selling 46,818 shares during the period. Teacher Retirement System of Texas owned about 0.30% of Kelly Services worth $1,366,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in shares of Kelly Services by 5,012.7% in the 1st quarter. Parallel Advisors LLC now owns 2,812 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 2,757 shares during the last quarter. Palouse Capital Management Inc. boosted its holdings in shares of Kelly Services by 33.6% in the 1st quarter. Palouse Capital Management Inc. now owns 10,944 shares of the business services provider’s stock valued at $144,000 after purchasing an additional 2,750 shares during the last quarter. AXQ Capital LP acquired a new position in shares of Kelly Services in the 4th quarter valued at $154,000. Cetera Investment Advisers acquired a new position in shares of Kelly Services in the 4th quarter valued at $158,000. Finally, Federated Hermes Inc. boosted its holdings in shares of Kelly Services by 9.6% in the 4th quarter. Federated Hermes Inc. now owns 12,240 shares of the business services provider’s stock valued at $171,000 after purchasing an additional 1,076 shares during the last quarter. 76.34% of the stock is owned by hedge funds and other institutional investors.

Kelly Services Stock Performance

NASDAQ:KELYA opened at $12.46 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $434.73 million, a price-to-earnings ratio of -20.77, a PEG ratio of 0.45 and a beta of 0.95. The firm’s fifty day simple moving average is $11.94 and its 200 day simple moving average is $12.71. Kelly Services, Inc. has a twelve month low of $10.80 and a twelve month high of $23.81.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Thursday, May 8th. The business services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.14). Kelly Services had a positive return on equity of 6.13% and a negative net margin of 0.46%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. As a group, equities research analysts expect that Kelly Services, Inc. will post 2.45 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were issued a $0.075 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.30 dividend on an annualized basis and a yield of 2.41%. Kelly Services’s dividend payout ratio is currently -50.00%.

Wall Street Analyst Weigh In

KELYA has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a report on Tuesday, May 20th. Barrington Research reiterated an “outperform” rating and issued a $25.00 price target on shares of Kelly Services in a report on Tuesday, May 20th.

About Kelly Services

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.