Donald Smith & CO. Inc. Acquires Shares of 464,504 Kelly Services, Inc. $KELYA

Donald Smith & CO. Inc. bought a new position in shares of Kelly Services, Inc. (NASDAQ:KELYA) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 464,504 shares of the business services provider’s stock, valued at approximately $5,704,000. Donald Smith & CO. Inc. owned approximately 1.34% of Kelly Services at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in KELYA. Vanguard Group Inc. raised its position in shares of Kelly Services by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,071,363 shares of the business services provider’s stock worth $27,176,000 after purchasing an additional 151,655 shares during the last quarter. Boston Partners raised its stake in Kelly Services by 0.4% during the third quarter. Boston Partners now owns 2,051,499 shares of the business services provider’s stock worth $26,908,000 after purchasing an additional 9,020 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Kelly Services by 39.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,908,900 shares of the business services provider’s stock worth $16,798,000 after purchasing an additional 544,309 shares during the period. Private Management Group Inc. raised its stake in shares of Kelly Services by 101.8% in the 4th quarter. Private Management Group Inc. now owns 1,268,649 shares of the business services provider’s stock valued at $11,164,000 after acquiring an additional 640,076 shares during the period. Finally, Millennium Management LLC lifted its position in Kelly Services by 8.5% during the 1st quarter. Millennium Management LLC now owns 1,188,264 shares of the business services provider’s stock worth $15,649,000 after acquiring an additional 93,026 shares in the last quarter. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Kelly Services Price Performance

Shares of Kelly Services stock opened at $17.09 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $14.25 and its two-hundred day moving average price is $11.36. Kelly Services, Inc. has a 52 week low of $7.98 and a 52 week high of $17.75. The stock has a market cap of $593.57 million, a PE ratio of -2.19, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.19. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Kelly Services had a negative net margin of 6.73% and a positive return on equity of 2.69%. During the same period in the prior year, the company earned $0.52 EPS. As a group, sell-side analysts anticipate that Kelly Services, Inc. will post 1.1 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.30 annualized dividend and a yield of 1.8%. Kelly Services’s dividend payout ratio is currently -3.84%.

Analyst Ratings Changes

A number of brokerages have issued reports on KELYA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kelly Services in a research report on Friday, August 7th. Barrington Research boosted their price target on Kelly Services from $15.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Kelly Services presently has a consensus rating of “Hold” and a consensus target price of $20.00.

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.