Kelly Services, Inc. (NASDAQ:KELYA) Holdings Increased by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its holdings in Kelly Services, Inc. by 114.3% in Q1, now owning 69,891 shares valued at $920,000.
• Kelly Services' stock decreased by 1.5%, trading at $12.07, with a market capitalization of $421.10 million and a P/E ratio of -20.12.
• The company recently announced a quarterly dividend of $0.075 per share, representing a 2.5% yield, despite a current dividend payout ratio of -50.00%.

Victory Capital Management Inc. grew its position in shares of Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 114.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,891 shares of the business services provider's stock after purchasing an additional 37,280 shares during the period. Victory Capital Management Inc. owned 0.20% of Kelly Services worth $920,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of KELYA. Parallel Advisors LLC boosted its position in shares of Kelly Services by 5,012.7% in the first quarter. Parallel Advisors LLC now owns 2,812 shares of the business services provider's stock worth $37,000 after acquiring an additional 2,757 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Kelly Services in the fourth quarter worth approximately $5,343,000. Cetera Investment Advisers acquired a new stake in shares of Kelly Services in the fourth quarter worth approximately $158,000. GAMMA Investing LLC boosted its position in shares of Kelly Services by 923.2% in the first quarter. GAMMA Investing LLC now owns 95,469 shares of the business services provider's stock worth $1,257,000 after acquiring an additional 86,139 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Kelly Services by 123.7% in the fourth quarter. Bank of America Corp DE now owns 146,462 shares of the business services provider's stock worth $2,042,000 after acquiring an additional 80,995 shares during the last quarter. 76.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Kelly Services Stock Up 1.5%

Shares of NASDAQ:KELYA traded up $0.18 during midday trading on Monday, reaching $12.25. The company had a trading volume of 72,311 shares, compared to its average volume of 300,428. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.64 and a quick ratio of 1.64. The stock's fifty day moving average price is $12.15 and its 200-day moving average price is $12.59. The stock has a market capitalization of $427.40 million, a P/E ratio of -20.42, a PEG ratio of 0.44 and a beta of 0.99. Kelly Services, Inc. has a one year low of $10.80 and a one year high of $22.44.

Kelly Services (NASDAQ:KELYA - Get Free Report) last released its earnings results on Thursday, May 8th. The business services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.14). Kelly Services had a negative net margin of 0.46% and a positive return on equity of 6.13%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. Equities research analysts expect that Kelly Services, Inc. will post 2.45 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were given a dividend of $0.075 per share. The ex-dividend date was Monday, May 19th. This represents a $0.30 annualized dividend and a dividend yield of 2.4%. Kelly Services's dividend payout ratio is currently -50.00%.

Kelly Services 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.