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

Essex Investment Management Co. LLC cut its holdings in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 12.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,808 shares of the business services provider’s stock after selling 9,876 shares during the period. Essex Investment Management Co. LLC’s holdings in Kelly Services were worth $973,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in shares of Kelly Services by 9.3% in the 3rd quarter. US Bancorp DE now owns 10,135 shares of the business services provider’s stock valued at $217,000 after purchasing an additional 866 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Kelly Services by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 37,404 shares of the business services provider’s stock worth $521,000 after purchasing an additional 945 shares during the period. Palouse Capital Management Inc. grew its holdings in shares of Kelly Services by 13.1% during the fourth quarter. Palouse Capital Management Inc. now owns 8,194 shares of the business services provider’s stock worth $114,000 after buying an additional 950 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Kelly Services by 49.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,277 shares of the business services provider’s stock valued at $60,000 after purchasing an additional 1,406 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Kelly Services by 4.5% in the 4th quarter. Victory Capital Management Inc. now owns 32,611 shares of the business services provider’s stock valued at $455,000 after buying an additional 1,411 shares during the period. 76.34% of the stock is currently owned by institutional investors and hedge funds.

Kelly Services Price Performance

Shares of NASDAQ KELYA 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. The stock has a market cap of $467.50 million, a price-to-earnings ratio of -223.30, a PEG ratio of 0.43 and a beta of 1.13. The company’s 50-day moving average price is $13.81 and its 200 day moving average price is $16.59. Kelly Services, Inc. has a 52 week low of $12.66 and a 52 week high of $25.27.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.82 earnings per share for the quarter, beating 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 business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.15 billion. As a group, research analysts forecast that Kelly Services, Inc. will post 2.45 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Wednesday, February 26th. Kelly Services’s dividend payout ratio is currently -500.00%.

Analyst Ratings Changes

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

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.