Invesco Ltd. Sells 1,275,039 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

Invesco Ltd. lowered its stake in Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 72.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 479,176 shares of the business services provider's stock after selling 1,275,039 shares during the period. Invesco Ltd. owned approximately 1.35% of Kelly Services worth $6,680,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in Kelly Services by 367.1% in the fourth quarter. Versant Capital Management Inc now owns 2,396 shares of the business services provider's stock valued at $33,000 after acquiring an additional 1,883 shares in the last quarter. KBC Group NV grew its position in Kelly Services by 109.1% during the 4th quarter. KBC Group NV now owns 3,886 shares of the business services provider's stock valued at $54,000 after purchasing an additional 2,028 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Kelly Services by 49.0% during the 4th 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 holdings in Kelly Services by 13.1% in the fourth 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 during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Kelly Services by 3,062.7% in the fourth quarter. GAMMA Investing LLC now owns 9,330 shares of the business services provider's stock worth $130,000 after buying an additional 9,035 shares in the last quarter. Institutional investors own 76.34% of the company's stock.

Kelly Services Stock Performance

NASDAQ:KELYA traded up $0.04 during mid-day trading on Wednesday, reaching $11.55. The company's stock had a trading volume of 243,731 shares, compared to its average volume of 345,451. Kelly Services, Inc. has a 12-month low of $10.80 and a 12-month high of $24.01. 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 firm's fifty day moving average price is $12.54 and its two-hundred day moving average price is $14.33. The stock has a market cap of $402.96 million, a P/E ratio of -192.47, a PEG ratio of 0.43 and a beta of 1.03.

Kelly Services (NASDAQ:KELYA - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.38. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.15 billion. Kelly Services had a positive return on equity of 6.56% and a negative net margin of 0.01%. On average, equities analysts forecast that Kelly Services, Inc. will post 2.45 EPS for the current fiscal year.

Kelly Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Wednesday, February 26th. Kelly Services's payout ratio is -500.00%.

Analyst Upgrades and Downgrades

Separately, Barrington Research restated an "outperform" rating and issued a $25.00 price objective on shares of Kelly Services in a report on Tuesday, February 18th.

Kelly Services Company 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.