Mackay Shields LLC boosted its position in Kelly Services, Inc. (NASDAQ:KELYA) by 22.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,500 shares of the business services provider’s stock after buying an additional 4,100 shares during the period. Mackay Shields LLC owned approximately 0.06% of Kelly Services worth $461,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in KELYA. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Kelly Services by 56.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,230 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 805 shares during the period. Founders Capital Management acquired a new position in shares of Kelly Services during the fourth quarter valued at about $51,000. PNC Financial Services Group Inc. raised its holdings in shares of Kelly Services by 47.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,771 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 891 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of Kelly Services by 593.3% during the fourth quarter. Meeder Asset Management Inc. now owns 3,945 shares of the business services provider’s stock valued at $81,000 after purchasing an additional 3,376 shares during the period. Finally, Menta Capital LLC acquired a new position in shares of Kelly Services during the fourth quarter valued at about $208,000. Institutional investors and hedge funds own 68.08% of the company’s stock.
In other news, insider Olivier Thirot sold 5,400 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $22.12, for a total transaction of $119,448.00. Following the completion of the sale, the insider now directly owns 73,802 shares of the company’s stock, valued at $1,632,500.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Teresa Carroll sold 4,422 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $24.28, for a total transaction of $107,366.16. Following the sale, the executive vice president now directly owns 115,385 shares of the company’s stock, valued at $2,801,547.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,487 shares of company stock valued at $411,008. 12.10% of the stock is currently owned by insiders.
Kelly Services (NASDAQ:KELYA) last posted its earnings results on Wednesday, February 13th. The business services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.80 by $0.07. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. Kelly Services had a net margin of 0.42% and a return on equity of 7.64%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, research analysts anticipate that Kelly Services, Inc. will post 2.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 25th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Friday, February 22nd. Kelly Services’s payout ratio is presently 13.22%.
Several equities analysts have recently weighed in on KELYA shares. ValuEngine lowered shares of Kelly Services from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Zacks Investment Research upgraded shares of Kelly Services from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Tuesday, February 5th. BidaskClub upgraded shares of Kelly Services from a “buy” rating to a “strong-buy” rating in a report on Monday, January 7th. Finally, TheStreet lowered shares of Kelly Services from a “b” rating to a “c+” rating in a report on Thursday, February 14th. Three equities research analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $32.00.
About Kelly Services
Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions, and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.
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