D. E. Shaw & Co. Inc. boosted its stake in Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 567.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 350,849 shares of the business services provider's stock after buying an additional 298,310 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.99% of Kelly Services worth $4,891,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KELYA. KBC Group NV lifted its position in Kelly Services by 109.1% in the 4th quarter. KBC Group NV now owns 3,886 shares of the business services provider's stock worth $54,000 after buying an additional 2,028 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in Kelly Services by 49.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,277 shares of the business services provider's stock worth $60,000 after buying an additional 1,406 shares in the last quarter. Palouse Capital Management Inc. lifted its position in Kelly Services by 13.1% in the 4th quarter. Palouse Capital Management Inc. now owns 8,194 shares of the business services provider's stock worth $114,000 after buying an additional 950 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Kelly Services during the 4th quarter valued at $153,000. Finally, AXQ Capital LP bought a new position in shares of Kelly Services during the 4th quarter valued at $154,000. Hedge funds and other institutional investors own 76.34% of the company's stock.
Kelly Services Stock Performance
KELYA traded down $0.18 during trading on Friday, hitting $11.67. The stock had a trading volume of 219,649 shares, compared to its average volume of 343,279. The firm has a market cap of $407.14 million, a PE ratio of -194.47, a P/E/G ratio of 0.43 and a beta of 0.96. 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 company has a 50 day simple moving average of $12.11 and a 200-day simple moving average of $13.39.
Kelly Services (NASDAQ:KELYA - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $1.16 billion. Kelly Services had a positive return on equity of 6.56% and a negative net margin of 0.01%. Analysts expect that Kelly Services, Inc. will post 2.45 EPS for the current year.
Kelly Services Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.30 annualized dividend and a yield of 2.57%. Kelly Services's dividend payout ratio (DPR) is presently -50.00%.
Analysts Set New Price Targets
A number of 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 report on Tuesday. Barrington Research reiterated an "outperform" rating and issued a $25.00 target price on shares of Kelly Services in a report on Tuesday.
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About Kelly Services
(
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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