Kelly Services, Inc. (NASDAQ:KELYA) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE raised its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 123.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 146,462 shares of the business services provider's stock after purchasing an additional 80,995 shares during the period. Bank of America Corp DE owned 0.41% of Kelly Services worth $2,042,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of KELYA. Boston Partners grew its stake in Kelly Services by 49.0% during the fourth quarter. Boston Partners now owns 1,889,389 shares of the business services provider's stock worth $26,450,000 after buying an additional 621,078 shares during the period. American Century Companies Inc. grew its stake in Kelly Services by 10.7% during the fourth quarter. American Century Companies Inc. now owns 897,155 shares of the business services provider's stock worth $12,506,000 after buying an additional 86,560 shares during the period. Geode Capital Management LLC grew its stake in Kelly Services by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 791,125 shares of the business services provider's stock worth $11,031,000 after buying an additional 9,464 shares during the period. Jane Street Group LLC grew its stake in Kelly Services by 2,489.0% during the fourth quarter. Jane Street Group LLC now owns 603,057 shares of the business services provider's stock worth $8,407,000 after buying an additional 579,764 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Kelly Services during the fourth quarter worth approximately $5,343,000. Institutional investors and hedge funds own 76.34% of the company's stock.

Kelly Services Stock Down 0.4%

NASDAQ KELYA traded down $0.05 during trading hours on Wednesday, reaching $11.67. 151,157 shares of the company traded hands, compared to its average volume of 345,250. Kelly Services, Inc. has a 12 month low of $10.80 and a 12 month high of $23.81. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $407.14 million, a PE ratio of -194.47, a PEG ratio of 0.43 and a beta of 0.96. The company has a 50 day moving average of $11.87 and a two-hundred day moving average of $13.12.

Kelly Services (NASDAQ:KELYA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The business services provider reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.14). Kelly Services had a negative net margin of 0.01% and a positive return on equity of 6.56%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. As a group, equities analysts expect that Kelly Services, Inc. will post 2.45 earnings per share for the current year.

Kelly Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were issued a $0.075 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.57%. Kelly Services's dividend payout ratio (DPR) is presently -50.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on KELYA shares. Wall Street Zen downgraded shares of Kelly Services from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Barrington Research restated an "outperform" rating and issued a $25.00 target price on shares of Kelly Services in a research note on Tuesday, May 20th.

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.