Millennium Management LLC Purchases 1,048,670 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

Millennium Management LLC raised its position in shares of Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 2,251.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,095,238 shares of the business services provider's stock after purchasing an additional 1,048,670 shares during the period. Millennium Management LLC owned 3.08% of Kelly Services worth $15,268,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. KBC Group NV boosted its holdings in shares of Kelly Services by 109.1% in the fourth quarter. KBC Group NV now owns 3,886 shares of the business services provider's stock worth $54,000 after acquiring an additional 2,028 shares during the period. Parkside Financial Bank & Trust raised its position in Kelly Services by 49.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,277 shares of the business services provider's stock valued at $60,000 after purchasing an additional 1,406 shares in the last quarter. Palouse Capital Management Inc. raised its position in Kelly Services by 13.1% during the fourth quarter. Palouse Capital Management Inc. now owns 8,194 shares of the business services provider's stock valued at $114,000 after purchasing an additional 950 shares in the last quarter. Entropy Technologies LP purchased a new stake in Kelly Services during the fourth quarter valued at about $153,000. Finally, AXQ Capital LP purchased a new position in shares of Kelly Services in the fourth quarter worth about $154,000. 76.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

KELYA has been the topic of a number of research analyst reports. Barrington Research restated an "outperform" rating and set a $25.00 price target on shares of Kelly Services in a report on Tuesday, May 20th. Wall Street Zen cut Kelly Services from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th.

Kelly Services Stock Up 3.3%

KELYA stock traded up $0.39 during midday trading on Tuesday, hitting $12.06. The company's stock had a trading volume of 132,724 shares, compared to its average volume of 342,978. The firm's 50-day moving average is $12.07 and its 200-day moving average is $13.26. The company has a market cap of $420.57 million, a PE ratio of -200.97, a P/E/G ratio of 0.43 and a beta of 0.96. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19. Kelly Services, Inc. has a 12 month low of $10.80 and a 12 month high of $23.81.

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 analysts' consensus estimates of $0.53 by ($0.14). Kelly Services had a positive return on equity of 6.56% and a negative net margin of 0.01%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. On average, equities research analysts forecast that Kelly Services, Inc. will post 2.45 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th will be paid a $0.075 dividend. The ex-dividend date is Monday, May 19th. This represents a $0.30 dividend on an annualized basis and a yield of 2.49%. Kelly Services's payout ratio is presently -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.