Kelly Services, Inc. $KELYA Stock: Private Management Group Inc. Lowers Stake

Key Points

• Private Management Group reduced its Kelly Services stake by 5.9%, selling 87,174 shares; it retained 1.40 million shares, or 4.03% of the company. Institutional investors collectively owned 76.34% of the stock.
• Kelly Services reported quarterly EPS of $0.07, matching analyst expectations, while revenue of $927.2 million slightly exceeded estimates. The company declared a quarterly dividend of $0.075 per share.
• Analyst views were mixed, with a consensus rating of Hold and an average price target of $20.00. Shares opened at $13.62, compared with a 12-month range of $7.98 to $17.75.

Private Management Group Inc. cut its holdings in Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,400,351 shares of the business services provider's stock after selling 87,174 shares during the quarter. Private Management Group Inc. owned 4.03% of Kelly Services worth $22,700,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp acquired a new stake in shares of Kelly Services during the 1st quarter worth approximately $4,371,000. Donald Smith & CO. Inc. acquired a new position in shares of Kelly Services during the 2nd quarter valued at $5,704,000. Public Employees Retirement System of Ohio bought a new position in Kelly Services during the second quarter worth $755,000. Quantinno Capital Management LP boosted its stake in Kelly Services by 34.5% during the first quarter. Quantinno Capital Management LP now owns 189,010 shares of the business services provider's stock worth $1,673,000 after acquiring an additional 48,431 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Kelly Services by 90.5% in the first quarter. Sei Investments Co. now owns 94,916 shares of the business services provider's stock worth $840,000 after purchasing an additional 45,097 shares during the period. 76.34% of the stock is currently owned by institutional investors.

Kelly Services Price Performance

Shares of KELYA opened at $13.62 on Tuesday. The business's fifty day moving average is $16.09 and its 200 day moving average is $12.66. Kelly Services, Inc. has a 12-month low of $7.98 and a 12-month high of $17.75. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The stock has a market cap of $473.02 million, a P/E ratio of 22.85, a P/E/G ratio of 1.18 and a beta of 0.93.

Kelly Services (NASDAQ:KELYA - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The business services provider reported $0.07 EPS for the quarter, meeting analysts' consensus estimates of $0.07. Kelly Services had a negative net margin of 6.73% and a positive return on equity of 2.69%. The business had revenue of $927.20 million during the quarter, compared to analyst estimates of $925.87 million. Sell-side analysts anticipate that Kelly Services, Inc. will post 1.04 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 18th will be given a $0.0750 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $0.30 annualized dividend and a yield of 2.2%. Kelly Services's dividend payout ratio (DPR) is presently -8.33%.

Wall Street Analysts Forecast Growth

KELYA has been the subject of several research analyst reports. Wall Street Zen raised shares of Kelly Services from a "hold" rating to a "buy" rating in a research note on Saturday, October 10th. Weiss Ratings raised shares of Kelly Services from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, November 4th. Finally, Barrington Research increased their price objective on shares of Kelly Services from $15.00 to $20.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $20.00.

Kelly Services Company Profile

Kelly Services, Inc is a workforce solutions company that provides staffing, recruiting, and talent-management services to employers. The company helps organizations address temporary, contract, direct-hire, and outsourced workforce needs across a range of industries and skill levels.

Its offerings include professional and industrial staffing, office and administrative support, science and engineering talent, education staffing, contact-center solutions, and workforce outsourcing and consulting.

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