Bank of New York Mellon Corp Lowers Stock Holdings in Kelly Services, Inc. (NASDAQ:KELYA)

Bank of New York Mellon Corp cut its holdings in Kelly Services, Inc. (NASDAQ:KELYA) by 4.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 310,537 shares of the business services provider’s stock after selling 15,599 shares during the quarter. Bank of New York Mellon Corp’s holdings in Kelly Services were worth $4,329,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC lifted 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 purchasing an additional 44,811 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Kelly Services by 1.2% in the third 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 in the last quarter. Segall Bryant & Hamill LLC acquired a new position in Kelly Services during the third quarter worth about $2,122,000. Franklin Resources Inc. boosted its position in Kelly Services by 9.3% during the third quarter. Franklin Resources Inc. now owns 22,362 shares of the business services provider’s stock worth $456,000 after acquiring an additional 1,905 shares during the last quarter. Finally, State Street Corp grew its stake 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 valued at $26,842,000 after acquiring an additional 17,579 shares in the last quarter. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

Kelly Services Price Performance

NASDAQ:KELYA opened at $13.49 on Wednesday. Kelly Services, Inc. has a 52 week low of $12.66 and a 52 week high of $25.16. The stock’s fifty day moving average is $13.70 and its two-hundred day moving average is $16.21. The company has a market capitalization of $470.64 million, a P/E ratio of -224.80, a P/E/G ratio of 0.43 and a beta of 1.13. 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 announced its earnings results on Thursday, February 13th. The business services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.15 billion. Equities analysts expect that Kelly Services, Inc. will post 2.45 EPS for the current year.

Kelly Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, February 26th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Wednesday, February 26th. Kelly Services’s dividend payout ratio (DPR) is -500.00%.

Wall Street Analysts Forecast Growth

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

Kelly Services Company 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.