Kelly Services, Inc. (KELYA) Stake Lowered by Bessemer Group Inc.
Bessemer Group Inc. reduced its position in Kelly Services, Inc. (NASDAQ:KELYA) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,400 shares of the business services provider’s stock after selling 100 shares during the period. Bessemer Group Inc.’s holdings in Kelly Services were worth $548,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Comerica Bank raised its position in Kelly Services by 3.7% in the first quarter. Comerica Bank now owns 32,726 shares of the business services provider’s stock worth $744,000 after buying an additional 1,155 shares during the last quarter. Bank of New York Mellon Corp raised its position in Kelly Services by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 597,624 shares of the business services provider’s stock worth $13,064,000 after buying an additional 10,693 shares during the last quarter. Capital One National Association raised its position in Kelly Services by 1.0% in the first quarter. Capital One National Association now owns 21,081 shares of the business services provider’s stock worth $461,000 after buying an additional 218 shares during the last quarter. LSV Asset Management increased its stake in Kelly Services by 21.8% in the first quarter. LSV Asset Management now owns 801,261 shares of the business services provider’s stock worth $17,515,000 after buying an additional 143,261 shares during the period. Finally, Eqis Capital Management Inc. increased its stake in Kelly Services by 3.3% in the first quarter. Eqis Capital Management Inc. now owns 10,937 shares of the business services provider’s stock worth $239,000 after buying an additional 347 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.
Shares of Kelly Services, Inc. (KELYA) opened at 21.37 on Friday. The firm has a market capitalization of $818.64 million, a P/E ratio of 6.40 and a beta of 0.98. Kelly Services, Inc. has a 52-week low of $18.01 and a 52-week high of $24.70. The company’s 50-day moving average price is $22.45 and its 200-day moving average price is $22.14.
Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Wednesday, August 9th. The business services provider reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.24. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Kelly Services had a net margin of 2.58% and a return on equity of 6.88%. The business’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 EPS. On average, equities research analysts expect that Kelly Services, Inc. will post $1.73 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.075 per share. The ex-dividend date is Friday, August 18th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.40%. Kelly Services’s payout ratio is presently 8.85%.
A number of research firms recently weighed in on KELYA. Zacks Investment Research raised Kelly Services from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Friday, August 11th. ValuEngine raised Kelly Services from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. BidaskClub downgraded Kelly Services from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Finally, Northcoast Research reissued a “neutral” rating on shares of Kelly Services in a research report on Friday, May 12th.
In other Kelly Services news, Director Donald R. Parfet sold 22,029 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $23.10, for a total transaction of $508,869.90. Following the transaction, the director now owns 23,520 shares in the company, valued at approximately $543,312. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 16.10% of the company’s stock.
About Kelly Services
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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