Essex Investment Management Co. LLC Lowers Holdings in Kelly Services, Inc. (NASDAQ:KELYA)

Essex Investment Management Co. LLC decreased its position in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 12.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,808 shares of the business services provider’s stock after selling 9,876 shares during the quarter. Essex Investment Management Co. LLC owned approximately 0.20% of Kelly Services worth $973,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KELYA. Barclays PLC raised its holdings in Kelly Services by 238.0% in the third quarter. Barclays PLC now owns 63,638 shares of the business services provider’s stock worth $1,362,000 after purchasing an additional 44,811 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Kelly Services by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 781,661 shares of the business services provider’s stock valued at $16,739,000 after acquiring an additional 9,635 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Kelly Services in the third quarter valued at $2,122,000. Franklin Resources Inc. boosted its stake in shares of Kelly Services by 9.3% in the third quarter. Franklin Resources Inc. now owns 22,362 shares of the business services provider’s stock worth $456,000 after buying an additional 1,905 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Kelly Services by 1.4% during the 3rd quarter. State Street Corp now owns 1,253,704 shares of the business services provider’s stock worth $26,842,000 after purchasing an additional 17,579 shares during the period. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Analysts Set New Price Targets

Separately, Barrington Research restated an “outperform” rating and set a $25.00 target price on shares of Kelly Services in a research report on Tuesday, February 18th.

Kelly Services Stock Performance

Shares of Kelly Services stock opened at $13.40 on Monday. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19. Kelly Services, Inc. has a twelve month low of $12.66 and a twelve month high of $25.27. The firm has a market capitalization of $467.50 million, a PE ratio of -223.30, a P/E/G ratio of 0.43 and a beta of 1.13. The firm’s 50-day moving average price is $13.81 and its 200 day moving average price is $16.59.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, February 13th. The business services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.38. Kelly Services had a negative net margin of 0.01% and a positive return on equity of 6.56%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.15 billion. On average, sell-side analysts predict that Kelly Services, Inc. will post 2.45 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.30 annualized dividend and a yield of 2.24%. Kelly Services’s dividend payout ratio (DPR) is -500.00%.

Kelly Services Company Profile

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.