KLP Kapitalforvaltning AS Takes Position in Kelly Services, Inc. (NASDAQ:KELYA)

KLP Kapitalforvaltning AS purchased a new position in shares of Kelly Services, Inc. (NASDAQ:KELYA) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 17,700 shares of the business services provider’s stock, valued at approximately $247,000.

A number of other large investors have also bought and sold shares of the stock. Barclays PLC boosted its holdings in shares of Kelly Services by 238.0% during the third 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 lifted its holdings in Kelly Services by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 781,661 shares of the business services provider’s stock worth $16,739,000 after buying an additional 9,635 shares during the period. Franklin Resources Inc. grew its position in shares of Kelly Services by 9.3% in the 3rd quarter. Franklin Resources Inc. now owns 22,362 shares of the business services provider’s stock worth $456,000 after buying an additional 1,905 shares during the last quarter. State Street Corp grew its position in shares of Kelly Services by 1.4% in the 3rd quarter. State Street Corp now owns 1,253,704 shares of the business services provider’s stock worth $26,842,000 after buying an additional 17,579 shares during the last quarter. Finally, ARGA Investment Management LP increased its stake in shares of Kelly Services by 28.6% during the fourth quarter. ARGA Investment Management LP now owns 97,482 shares of the business services provider’s stock valued at $1,359,000 after buying an additional 21,672 shares during the period. 76.34% of the stock is owned by hedge funds and other institutional investors.

Kelly Services Price Performance

Shares of NASDAQ KELYA opened at $11.83 on Tuesday. Kelly Services, Inc. has a 1 year low of $11.53 and a 1 year high of $24.67. The stock has a market capitalization of $412.73 million, a P/E ratio of -197.13, a P/E/G ratio of 0.43 and a beta of 1.03. The company’s 50-day moving average is $13.42 and its 200 day moving average is $15.45. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.65.

Kelly Services (NASDAQ:KELYA) last posted 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. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. Kelly Services had a positive return on equity of 6.56% and a negative net margin of 0.01%. On average, sell-side analysts expect that Kelly Services, Inc. will post 2.45 earnings per share for the current year.

Kelly Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Wednesday, February 26th. Kelly Services’s dividend payout ratio is currently -500.00%.

Analyst Ratings Changes

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

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.