Kelly Services, Inc. (NASDAQ:KELYA) Shares Bought by Empowered Funds LLC

Empowered Funds LLC grew its position in Kelly Services, Inc. (NASDAQ:KELYA) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 196,283 shares of the business services provider’s stock after purchasing an additional 9,916 shares during the quarter. Empowered Funds LLC’s holdings in Kelly Services were worth $4,202,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cornercap Investment Counsel Inc. acquired a new position in shares of Kelly Services during the third quarter valued at about $243,000. US Bancorp DE grew its position in Kelly Services by 9.3% during the 3rd quarter. US Bancorp DE now owns 10,135 shares of the business services provider’s stock worth $217,000 after purchasing an additional 866 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Kelly Services by 1,730.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 234,057 shares of the business services provider’s stock valued at $5,011,000 after purchasing an additional 221,271 shares in the last quarter. Creative Planning acquired a new position in Kelly Services during the 3rd quarter valued at approximately $203,000. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Kelly Services in the third quarter worth $1,706,000. 76.34% of the stock is owned by institutional investors and hedge funds.

Kelly Services Price Performance

Shares of NASDAQ:KELYA opened at $14.39 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.18. Kelly Services, Inc. has a twelve month low of $14.36 and a twelve month high of $25.27. The company’s 50 day moving average is $19.95 and its 200 day moving average is $21.05. The company has a market cap of $511.85 million, a PE ratio of 12.51, a price-to-earnings-growth ratio of 0.54 and a beta of 1.20.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.07 billion. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. The firm’s revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 EPS. On average, sell-side analysts forecast that Kelly Services, Inc. will post 2.07 EPS for the current year.

Kelly Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.30 annualized dividend and a dividend yield of 2.08%. Kelly Services’s dividend payout ratio (DPR) is presently 26.09%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on KELYA shares. Barrington Research reissued an “outperform” rating and set a $29.00 price objective on shares of Kelly Services in a report on Friday, September 27th. StockNews.com downgraded Kelly Services from a “buy” rating to a “hold” rating in a research note on Friday, August 9th.

About Kelly Services

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.