Municipal Employees Retirement System of Michigan lowered its stake in Kelly Services, Inc. (NASDAQ:KELYA) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 93,930 shares of the business services provider’s stock after selling 7,070 shares during the quarter. Municipal Employees Retirement System of Michigan owned about 0.24% of Kelly Services worth $2,561,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in KELYA. The Manufacturers Life Insurance Company grew its stake in Kelly Services by 3.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,872 shares of the business services provider’s stock worth $536,000 after acquiring an additional 791 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Kelly Services by 3.5% during the third quarter. Rhumbline Advisers now owns 62,828 shares of the business services provider’s stock valued at $1,576,000 after purchasing an additional 2,104 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Kelly Services by 4.6% during the fourth quarter. Teachers Advisors LLC now owns 56,983 shares of the business services provider’s stock valued at $1,554,000 after purchasing an additional 2,503 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Kelly Services by 2.3% during the third quarter. California Public Employees Retirement System now owns 142,241 shares of the business services provider’s stock valued at $3,569,000 after purchasing an additional 3,241 shares in the last quarter. Finally, LSV Asset Management boosted its stake in shares of Kelly Services by 0.4% during the fourth quarter. LSV Asset Management now owns 1,012,761 shares of the business services provider’s stock valued at $27,617,000 after purchasing an additional 3,900 shares in the last quarter. Hedge funds and other institutional investors own 68.09% of the company’s stock.
KELYA stock traded down $0.69 during midday trading on Friday, hitting $29.04. 160,365 shares of the stock traded hands, compared to its average volume of 149,892. The firm has a market cap of $1,142.46, a PE ratio of 13.51 and a beta of 1.01. Kelly Services, Inc. has a 1-year low of $20.27 and a 1-year high of $30.99.
Kelly Services (NASDAQ:KELYA) last announced its earnings results on Thursday, February 1st. The business services provider reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.18. Kelly Services had a net margin of 1.33% and a return on equity of 7.92%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business earned $0.55 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. research analysts predict that Kelly Services, Inc. will post 2.35 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Monday, February 26th were given a dividend of $0.075 per share. The ex-dividend date was Friday, February 23rd. This represents a $0.30 dividend on an annualized basis and a yield of 1.03%. Kelly Services’s payout ratio is presently 13.64%.
A number of research firms have issued reports on KELYA. BidaskClub raised shares of Kelly Services from a “sell” rating to a “hold” rating in a report on Saturday, January 20th. Zacks Investment Research cut shares of Kelly Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, ValuEngine raised shares of Kelly Services from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st.
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Kelly Services Company Profile
Kelly Services, Inc is a workforce solutions provider, which is engaged in offering a range of specialty services. The Company provides workforce solutions in three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). The Company’s segments are Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), and Outsourcing and Consulting Group (OCG).
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