Arizona State Retirement System held its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 15,260 shares of the business services provider’s stock at the end of the second quarter. Arizona State Retirement System’s holdings in Kelly Services were worth $343,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. State of Alaska Department of Revenue increased its stake in shares of Kelly Services by 77.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,731 shares of the business services provider’s stock valued at $128,000 after purchasing an additional 2,501 shares in the last quarter. Mason Street Advisors LLC increased its stake in shares of Kelly Services by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 6,837 shares of the business services provider’s stock valued at $149,000 after purchasing an additional 449 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Kelly Services by 34.6% in the 1st quarter. Victory Capital Management Inc. now owns 7,213 shares of the business services provider’s stock valued at $158,000 after purchasing an additional 1,856 shares in the last quarter. Eqis Capital Management Inc. increased its stake in shares of Kelly Services by 3.3% in the 1st quarter. Eqis Capital Management Inc. now owns 10,937 shares of the business services provider’s stock valued at $239,000 after purchasing an additional 347 shares in the last quarter. Finally, Menta Capital LLC purchased a new position in shares of Kelly Services in the 1st quarter valued at about $241,000. Hedge funds and other institutional investors own 65.75% of the company’s stock.
Several equities analysts recently weighed in on KELYA shares. ValuEngine upgraded Kelly Services from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded Kelly Services from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a research note on Tuesday, May 16th. Finally, BidaskClub upgraded Kelly Services from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th.
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Shares of Kelly Services, Inc. (KELYA) opened at 22.18 on Monday. Kelly Services, Inc. has a 1-year low of $18.01 and a 1-year high of $24.70. The firm’s 50-day moving average price is $21.93 and its 200 day moving average price is $22.11. The stock has a market capitalization of $849.67 million, a price-to-earnings ratio of 6.65 and a beta of 0.98.
Kelly Services (NASDAQ:KELYA) last issued its earnings results on Wednesday, August 9th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.24. Kelly Services had a net margin of 2.58% and a return on equity of 6.88%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the company posted $0.29 earnings per share. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities research analysts expect that Kelly Services, Inc. will post $1.73 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 22nd were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.30 dividend on an annualized basis and a yield of 1.35%. Kelly Services’s dividend payout ratio (DPR) is presently 8.85%.
Kelly Services Company Profile
Kelly Services, Inc is a workforce solutions provider, which is engaged in offering a range of specialty services. The Company provides workforce solutions in three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). The Company’s segments are Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), and Outsourcing and Consulting Group (OCG).
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