Kelly Services, Inc. (NASDAQ:KELYA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 66.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 78,203 shares of the business services provider’s stock after selling 155,854 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Kelly Services were worth $1,090,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC grew its position in Kelly Services by 238.0% during the 3rd quarter. Barclays PLC now owns 63,638 shares of the business services provider’s stock worth $1,362,000 after purchasing an additional 44,811 shares during the period. Geode Capital Management LLC grew its position in Kelly Services by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 781,661 shares of the business services provider’s stock worth $16,739,000 after purchasing an additional 9,635 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in Kelly Services during the 3rd quarter worth about $2,122,000. Franklin Resources Inc. grew its position in Kelly Services by 9.3% during the 3rd quarter. Franklin Resources Inc. now owns 22,362 shares of the business services provider’s stock worth $456,000 after purchasing an additional 1,905 shares during the period. Finally, State Street Corp grew its position in Kelly Services by 1.4% during the 3rd quarter. State Street Corp now owns 1,253,704 shares of the business services provider’s stock worth $26,842,000 after purchasing an additional 17,579 shares during the period. 76.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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 Trading Up 1.3 %

Shares of Kelly Services stock opened at $13.87 on Monday. The firm has a market capitalization of $483.90 million, a PE ratio of -231.13, a P/E/G ratio of 0.43 and a beta of 1.11. Kelly Services, Inc. has a twelve month low of $12.68 and a twelve month high of $25.27. The firm’s 50-day moving average price is $13.76 and its 200 day moving average price is $17.06. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19.

Kelly Services (NASDAQ:KELYA) last released its earnings results on Thursday, February 13th. The business services provider reported $0.82 earnings per share 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 business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.15 billion. On average, sell-side analysts predict that Kelly Services, Inc. will post 2.45 EPS for the current fiscal year.

Kelly Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Wednesday, February 26th. Kelly Services’s payout ratio is presently -500.00%.

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.