Cubist Systematic Strategies LLC trimmed its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 46.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,341 shares of the business services provider’s stock after selling 13,514 shares during the period. Cubist Systematic Strategies LLC’s holdings in Kelly Services were worth $368,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in shares of Kelly Services during the 2nd quarter valued at approximately $43,000. Captrust Financial Advisors acquired a new stake in shares of Kelly Services during the 1st quarter valued at approximately $50,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of Kelly Services by 24.6% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 12,139 shares of the business services provider’s stock worth $270,000 after purchasing an additional 2,400 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Kelly Services by 26.2% during the 2nd quarter. Bank of Montreal Can now owns 12,980 shares of the business services provider’s stock worth $328,000 after purchasing an additional 2,698 shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in shares of Kelly Services by 34.2% during the 2nd quarter. GSA Capital Partners LLP now owns 17,789 shares of the business services provider’s stock worth $426,000 after purchasing an additional 4,537 shares in the last quarter. Institutional investors own 71.07% of the company’s stock.
A number of brokerages have recently weighed in on KELYA. Zacks Investment Research cut shares of Kelly Services from a “hold” rating to a “sell” rating in a research note on Wednesday, November 17th. Northcoast Research raised shares of Kelly Services from a “neutral” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Tuesday, August 10th. Finally, TheStreet cut shares of Kelly Services from a “b-” rating to a “c+” rating in a research note on Friday, August 13th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $27.00.
Kelly Services (NASDAQ:KELYA) last released its earnings results on Wednesday, November 10th. The business services provider reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.01). Kelly Services had a return on equity of 4.13% and a net margin of 2.20%. During the same quarter in the previous year, the firm earned $0.29 earnings per share. As a group, analysts predict that Kelly Services, Inc. will post 1.26 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 8th. Shareholders of record on Wednesday, November 24th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, November 23rd. This represents a $0.20 annualized dividend and a yield of 1.10%. Kelly Services’s payout ratio is currently 7.41%.
Kelly Services Profile
Kelly Services, Inc engages in staffing and workforce solutions. It operates through the following segments: Americas Staffing, Global Talent Solutions, and International Staffing. The Americas Staffing segment delivers temporary staffing, as well as direct-hire placement services, in a number of specialty staffing services, including office, education, marketing, electronic assembly, light industrial, science, engineering, and information technology in United States, Puerto Rico, Canada, Mexico and Brazil.
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