D. E. Shaw & Co. Inc. boosted its holdings in Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 567.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 350,849 shares of the business services provider's stock after purchasing an additional 298,310 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.99% of Kelly Services worth $4,891,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the stock. ARGA Investment Management LP increased its position in Kelly Services by 28.6% during the fourth quarter. ARGA Investment Management LP now owns 97,482 shares of the business services provider's stock worth $1,359,000 after buying an additional 21,672 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Kelly Services by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 37,404 shares of the business services provider's stock worth $521,000 after acquiring an additional 945 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Kelly Services during the fourth quarter worth approximately $5,343,000. Proficio Capital Partners LLC acquired a new position in shares of Kelly Services in the 4th quarter valued at $201,000. Finally, Entropy Technologies LP purchased a new stake in Kelly Services in the 4th quarter valued at $153,000. 76.34% of the stock is currently owned by hedge funds and other institutional investors.
Kelly Services Trading Up 1.9%
NASDAQ:KELYA opened at $12.53 on Friday. 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's 50 day simple moving average is $12.22 and its 200-day simple moving average is $13.62. The firm has a market cap of $437.15 million, a P/E ratio of -208.80, a PEG ratio of 0.43 and a beta of 0.96.
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 analysts' consensus estimates of $0.53 by ($0.14). The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.16 billion. Kelly Services had a negative net margin of 0.01% and a positive return on equity of 6.56%. Equities analysts anticipate that Kelly Services, Inc. will post 2.45 EPS for the current year.
Kelly Services Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be issued a dividend of $0.075 per share. The ex-dividend date is Monday, May 19th. This represents a $0.30 annualized dividend and a yield of 2.39%. Kelly Services's dividend payout ratio is currently -50.00%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on KELYA shares. Barrington Research reissued an "outperform" rating and set a $25.00 price objective on shares of Kelly Services in a research report on Tuesday, February 18th. StockNews.com upgraded shares of Kelly Services from a "hold" rating to a "buy" rating in a research note on Monday, May 12th.
Get Our Latest Stock Report on KELYA
Kelly Services Company Profile
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Free Report)
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.
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