JPMorgan Chase & Co. Has $5.41 Million Holdings in Kelly Services, Inc. $KELYA

JPMorgan Chase & Co. increased its position in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 1,328.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 412,211 shares of the business services provider’s stock after purchasing an additional 383,357 shares during the quarter. JPMorgan Chase & Co.’s holdings in Kelly Services were worth $5,408,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of KELYA. Private Management Group Inc. acquired a new position in shares of Kelly Services in the 3rd quarter valued at approximately $8,247,000. Bank of America Corp DE boosted its position in shares of Kelly Services by 186.9% during the 3rd quarter. Bank of America Corp DE now owns 482,702 shares of the business services provider’s stock worth $6,333,000 after acquiring an additional 314,447 shares in the last quarter. Kennedy Capital Management LLC increased its stake in Kelly Services by 77.6% in the third quarter. Kennedy Capital Management LLC now owns 687,120 shares of the business services provider’s stock valued at $9,015,000 after acquiring an additional 300,178 shares during the last quarter. Vanguard Group Inc. increased its stake in Kelly Services by 7.9% in the third quarter. Vanguard Group Inc. now owns 2,071,363 shares of the business services provider’s stock valued at $27,176,000 after acquiring an additional 151,655 shares during the last quarter. Finally, Raymond James Financial Inc. raised its position in Kelly Services by 11,754.9% during the third quarter. Raymond James Financial Inc. now owns 120,920 shares of the business services provider’s stock valued at $1,586,000 after purchasing an additional 119,900 shares in the last quarter. 76.34% of the stock is currently owned by institutional investors and hedge funds.

Kelly Services Price Performance

Shares of NASDAQ:KELYA opened at $8.67 on Thursday. The firm has a market cap of $296.60 million, a PE ratio of -1.19, a price-to-earnings-growth ratio of 0.65 and a beta of 0.80. Kelly Services, Inc. has a 52 week low of $7.98 and a 52 week high of $14.94. The firm’s fifty day moving average is $9.53 and its 200-day moving average is $10.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.54 and a current ratio of 1.54.

Kelly Services (NASDAQ:KELYA) last announced its earnings results on Thursday, February 12th. The business services provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.29). The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Kelly Services had a positive return on equity of 4.05% and a negative net margin of 5.98%. Sell-side analysts predict that Kelly Services, Inc. will post 2.45 earnings per share for the current year.

Kelly Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, February 25th. Kelly Services’s payout ratio is currently -4.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded Kelly Services from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Kelly Services in a research note on Thursday, January 22nd. Zacks Research downgraded Kelly Services from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Finally, Barrington Research reduced their price objective on Kelly Services from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.00.

Insider Activity at Kelly Services

In other news, CEO Christopher D. Layden bought 10,100 shares of the firm’s stock in a transaction on Tuesday, March 24th. The stock was acquired at an average price of $8.80 per share, with a total value of $88,880.00. Following the transaction, the chief executive officer owned 382,513 shares of the company’s stock, valued at $3,366,114.40. This trade represents a 2.71% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Christopher Hunt purchased 4,000 shares of the stock in a transaction on Wednesday, February 25th. The shares were purchased at an average price of $9.30 per share, with a total value of $37,200.00. Following the acquisition, the director owned 29,976 shares in the company, valued at approximately $278,776.80. The trade was a 15.40% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 35,200 shares of company stock worth $327,137 over the last quarter. 48.09% of the stock is currently owned by company insiders.

Kelly Services Company Profile

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.