Dupont Capital Management Corp bought a new stake in Kelly Services, Inc. (NASDAQ:KELYA) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,595 shares of the business services provider’s stock, valued at approximately $63,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC purchased a new position in Kelly Services during the second quarter worth $595,000. Wells Fargo & Company MN boosted its stake in Kelly Services by 31.5% during the second quarter. Wells Fargo & Company MN now owns 380,752 shares of the business services provider’s stock worth $9,973,000 after buying an additional 91,296 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in Kelly Services by 69.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 31,758 shares of the business services provider’s stock worth $832,000 after buying an additional 13,061 shares during the period. Acadian Asset Management LLC boosted its stake in Kelly Services by 11.9% during the second quarter. Acadian Asset Management LLC now owns 299,877 shares of the business services provider’s stock worth $7,855,000 after buying an additional 31,920 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new position in Kelly Services during the second quarter worth $2,064,000. 66.38% of the stock is owned by institutional investors.
Several research analysts have commented on KELYA shares. Northcoast Research lowered shares of Kelly Services from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 28th. TheStreet lowered shares of Kelly Services from a “b” rating to a “c+” rating in a research note on Wednesday. BidaskClub lowered shares of Kelly Services from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Zacks Investment Research lowered shares of Kelly Services from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, ValuEngine lowered shares of Kelly Services from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $29.50.
In related news, VP Bhupendra C. Shah sold 1,161 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $64.41, for a total value of $74,780.01. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO George S. Corona sold 29,110 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $25.18, for a total value of $732,989.80. Following the completion of the sale, the chief executive officer now owns 213,311 shares in the company, valued at approximately $5,371,170.98. The disclosure for this sale can be found here. Insiders have sold 32,325 shares of company stock worth $863,445 in the last 90 days. Insiders own 7.20% of the company’s stock.
NASDAQ KELYA opened at $21.97 on Friday. Kelly Services, Inc. has a 52 week low of $19.21 and a 52 week high of $28.91. The firm has a market capitalization of $966.26 million, a price-to-earnings ratio of 9.68 and a beta of 0.75. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average of $23.61 and a two-hundred day moving average of $24.90.
Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.09). Kelly Services had a return on equity of 8.41% and a net margin of 2.09%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. Kelly Services’s revenue was down 5.6% on a year-over-year basis. Equities research analysts anticipate that Kelly Services, Inc. will post 2.28 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.075 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.37%. Kelly Services’s payout ratio is 13.22%.
Kelly Services Profile
Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions, and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.
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