Arizona State Retirement System trimmed its stake in Kelly Services, Inc. Class A (NASDAQ:KELYA) by 6.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,756 shares of the business services provider’s stock after selling 3,310 shares during the quarter. Arizona State Retirement System’s holdings in Kelly Services, Inc. Class A were worth $1,005,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Mackay Shields LLC bought a new stake in Kelly Services, Inc. Class A during the first quarter worth $1,162,000. Swiss National Bank increased its position in Kelly Services, Inc. Class A by 3.2% in the first quarter. Swiss National Bank now owns 54,700 shares of the business services provider’s stock worth $1,588,000 after buying an additional 1,700 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Kelly Services, Inc. Class A by 1.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 495,345 shares of the business services provider’s stock worth $14,385,000 after buying an additional 7,500 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in Kelly Services, Inc. Class A in the first quarter worth $535,000. Finally, Aperio Group LLC increased its position in Kelly Services, Inc. Class A by 3.4% in the first quarter. Aperio Group LLC now owns 182,697 shares of the business services provider’s stock worth $5,306,000 after buying an additional 6,039 shares during the last quarter. Hedge funds and other institutional investors own 67.02% of the company’s stock.

A number of analysts have issued reports on KELYA shares. BidaskClub raised Kelly Services, Inc. Class A from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. Sidoti started coverage on Kelly Services, Inc. Class A in a research report on Friday, August 24th. They issued a “buy” rating and a $37.00 target price for the company. Northcoast Research raised Kelly Services, Inc. Class A from a “neutral” rating to a “buy” rating in a research report on Friday, June 1st. ValuEngine raised Kelly Services, Inc. Class A from a “sell” rating to a “hold” rating in a research report on Wednesday, June 13th. Finally, Zacks Investment Research upgraded Kelly Services, Inc. Class A from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $34.50.

Shares of NASDAQ KELYA opened at $24.28 on Thursday. The firm has a market capitalization of $975.51 million, a PE ratio of 11.04 and a beta of 0.89. Kelly Services, Inc. Class A has a fifty-two week low of $21.44 and a fifty-two week high of $32.31.

Kelly Services, Inc. Class A (NASDAQ:KELYA) last announced its quarterly earnings results on Wednesday, August 8th. The business services provider reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.11. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Kelly Services, Inc. Class A had a return on equity of 7.62% and a net margin of 0.99%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 earnings per share. analysts anticipate that Kelly Services, Inc. Class A will post 2.1 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Tuesday, August 21st were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Monday, August 20th. Kelly Services, Inc. Class A’s dividend payout ratio (DPR) is presently 13.64%.

About Kelly Services, Inc. Class A

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions (GTS), and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.

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Institutional Ownership by Quarter for Kelly Services, Inc. Class A (NASDAQ:KELYA)

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