Hsbc Holdings PLC Sells 8,405 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

Hsbc Holdings PLC lessened its position in Kelly Services, Inc. (NASDAQ:KELYA) by 22.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,247 shares of the business services provider’s stock after selling 8,405 shares during the period. Hsbc Holdings PLC owned 0.08% of Kelly Services worth $637,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of KELYA. SG Americas Securities LLC bought a new position in shares of Kelly Services during the third quarter valued at approximately $337,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Kelly Services in the 3rd quarter worth about $455,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Kelly Services by 80.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,135 shares of the business services provider’s stock valued at $148,000 after purchasing an additional 3,616 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Kelly Services by 32.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 14,233 shares of the business services provider’s stock valued at $259,000 after buying an additional 3,481 shares during the period. Finally, Teacher Retirement System of Texas purchased a new stake in Kelly Services in the third quarter worth about $231,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Kelly Services Stock Down 0.4 %

Shares of KELYA stock traded down $0.09 during mid-day trading on Friday, reaching $23.63. 193,144 shares of the company’s stock traded hands, compared to its average volume of 160,144. The company’s 50-day moving average price is $24.07 and its 200-day moving average price is $21.81. The company has a market cap of $833.90 million, a P/E ratio of 24.11, a P/E/G ratio of 1.03 and a beta of 1.19. Kelly Services, Inc. has a 12 month low of $15.53 and a 12 month high of $25.27.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Thursday, February 15th. The business services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.38. Kelly Services had a return on equity of 6.50% and a net margin of 0.75%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the firm posted $0.18 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. Equities analysts predict that Kelly Services, Inc. will post 1.78 earnings per share for the current year.

Kelly Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Monday, February 26th. Kelly Services’s dividend payout ratio (DPR) is currently 30.61%.

Insider Buying and Selling

In other news, EVP Olivier Thirot sold 20,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $24.07, for a total transaction of $481,400.00. Following the transaction, the executive vice president now directly owns 174,793 shares of the company’s stock, valued at $4,207,267.51. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Timothy L. Dupree sold 12,711 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $24.98, for a total transaction of $317,520.78. Following the transaction, the senior vice president now directly owns 32,392 shares of the company’s stock, valued at approximately $809,152.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Olivier Thirot sold 20,000 shares of Kelly Services stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $24.07, for a total value of $481,400.00. Following the completion of the sale, the executive vice president now directly owns 174,793 shares of the company’s stock, valued at approximately $4,207,267.51. The disclosure for this sale can be found here. 3.50% of the stock is owned by company insiders.

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.