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

Other hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 purchasing an additional 760 shares in the last quarter. Federated Hermes Inc. raised 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 worth $171,000 after buying an additional 1,076 shares during the last quarter. Price T Rowe Associates Inc. MD raised 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 worth $173,000 after buying an additional 2,298 shares during the last quarter. Barclays PLC increased its position in shares of Kelly Services by 3.9% during the 4th quarter. Barclays PLC now owns 66,095 shares of the business services provider's stock valued at $922,000 after purchasing an additional 2,457 shares during the last quarter. Finally, Palouse Capital Management Inc. increased its position in shares of Kelly Services by 33.6% during the 1st quarter. Palouse Capital Management Inc. now owns 10,944 shares of the business services provider's stock valued at $144,000 after purchasing an additional 2,750 shares during the last quarter. Institutional investors own 76.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research 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 report on Tuesday, May 20th. Barrington Research reiterated an "outperform" rating and set a $25.00 target price on shares of Kelly Services in a research report on Tuesday, May 20th.

Kelly Services Trading Down 0.9%

KELYA stock traded down $0.11 during mid-day trading on Wednesday, reaching $12.75. 34,879 shares of the stock traded hands, compared to its average volume of 297,865. The business has a 50-day moving average price of $12.12 and a two-hundred day moving average price of $12.64. The stock has a market capitalization of $444.82 million, a PE ratio of -21.25, a PEG ratio of 0.49 and a beta of 0.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.64 and a current ratio of 1.64. Kelly Services, Inc. has a one year low of $10.80 and a one year high of $23.81.

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

Kelly Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were given a dividend of $0.075 per share. The ex-dividend date was Monday, May 19th. This represents a $0.30 annualized dividend and a dividend yield of 2.35%. Kelly Services's dividend payout ratio (DPR) 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.