Royce & Associates LP Takes Position in Kelly Services, Inc. (NASDAQ:KELYA)

Key Points

• Royce & Associates LP has acquired 451,590 shares of Kelly Services, Inc., amounting to approximately $5.95 million, representing 1.29% of the company by the end of the last reporting period.
• Multiple institutional investors significantly increased their holdings in Kelly Services during the 4th quarter, with Millennium Management LLC leading with a staggering increase of 2,251.9%, bringing their total to over 1 million shares.
• Kelly Services recently declared a quarterly dividend of $0.075 per share, yielding 2.24%, with a negative dividend payout ratio of -50.00%.

Royce & Associates LP bought a new position in shares of Kelly Services, Inc. (NASDAQ:KELYA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 451,590 shares of the business services provider's stock, valued at approximately $5,947,000. Royce & Associates LP owned 1.29% of Kelly Services as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of KELYA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Kelly Services by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,786 shares of the business services provider's stock worth $248,000 after acquiring an additional 760 shares during the period. Federated Hermes Inc. grew its position in Kelly Services by 9.6% in the 4th quarter. Federated Hermes Inc. now owns 12,240 shares of the business services provider's stock valued at $171,000 after buying an additional 1,076 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Kelly Services by 22.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,383 shares of the business services provider's stock valued at $173,000 after buying an additional 2,298 shares in the last quarter. Barclays PLC grew its position in Kelly Services by 3.9% in the 4th quarter. Barclays PLC now owns 66,095 shares of the business services provider's stock valued at $922,000 after buying an additional 2,457 shares in the last quarter. Finally, Palouse Capital Management Inc. grew its position in Kelly Services by 33.6% in the 1st quarter. Palouse Capital Management Inc. now owns 10,944 shares of the business services provider's stock valued at $144,000 after buying an additional 2,750 shares in the last quarter. 76.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on KELYA shares. Wall Street Zen lowered shares of Kelly Services from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Barrington Research reiterated an "outperform" rating and issued a $25.00 target price on shares of Kelly Services in a research report on Tuesday, May 20th.

Kelly Services Price Performance

Shares of NASDAQ:KELYA traded up $0.11 during trading hours on Friday, hitting $13.40. 249,684 shares of the company's stock traded hands, compared to its average volume of 271,646. Kelly Services, Inc. has a 52 week low of $10.80 and a 52 week high of $23.81. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.64 and a current ratio of 1.64. The company's fifty day simple moving average is $12.09 and its two-hundred day simple moving average is $12.64. The company has a market cap of $467.53 million, a price-to-earnings ratio of -22.33, a price-to-earnings-growth ratio of 0.49 and a beta of 0.95.

Kelly Services (NASDAQ:KELYA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The business services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.14). Kelly Services had a negative net margin of 0.46% and a positive return on equity of 6.13%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. As a group, equities analysts anticipate that Kelly Services, Inc. will post 2.45 EPS for the current fiscal year.

Kelly Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, May 19th. Kelly Services's payout ratio is -50.00%.

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.