Kelly Services, Inc. (KELYA) Holdings Boosted by Bank of America Corp DE

Bank of America Corp DE lifted its stake in Kelly Services, Inc. (NASDAQ:KELYA) by 111.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,081 shares of the business services provider’s stock after buying an additional 22,691 shares during the quarter. Bank of America Corp DE’s holdings in Kelly Services were worth $882,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Kelly Services by 56.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,230 shares of the business services provider’s stock worth $46,000 after buying an additional 805 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Kelly Services by 47.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,771 shares of the business services provider’s stock worth $56,000 after buying an additional 891 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Kelly Services by 593.3% in the fourth quarter. Meeder Asset Management Inc. now owns 3,945 shares of the business services provider’s stock worth $81,000 after buying an additional 3,376 shares in the last quarter. Menta Capital LLC purchased a new position in shares of Kelly Services in the fourth quarter worth $208,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Kelly Services in the fourth quarter worth $225,000. 67.32% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Olivier Thirot sold 5,400 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $22.12, for a total value of $119,448.00. Following the sale, the insider now owns 73,802 shares of the company’s stock, valued at $1,632,500.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Teresa Carroll sold 6,959 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $24.13, for a total transaction of $167,920.67. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,148 shares of company stock worth $778,413. 7.20% of the stock is owned by insiders.

A number of equities research analysts recently issued reports on KELYA shares. TheStreet downgraded shares of Kelly Services from a “b” rating to a “c+” rating in a research note on Thursday, February 14th. BidaskClub downgraded shares of Kelly Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 31st. Zacks Investment Research raised shares of Kelly Services from a “sell” rating to a “hold” rating in a research note on Friday, April 12th. Finally, ValuEngine raised shares of Kelly Services from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Kelly Services has a consensus rating of “Hold” and a consensus target price of $32.50.

Kelly Services stock opened at $24.71 on Wednesday. The firm has a market cap of $942.65 million, a P/E ratio of 10.89 and a beta of 0.80. Kelly Services, Inc. has a 52-week low of $19.21 and a 52-week high of $26.57.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Monday, May 6th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.10. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.41 billion. Kelly Services had a net margin of 0.29% and a return on equity of 7.94%. Kelly Services’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 earnings per share. As a group, equities analysts forecast that Kelly Services, Inc. will post 2.45 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Monday, May 20th. Kelly Services’s payout ratio is 13.22%.

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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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Institutional Ownership by Quarter for Kelly Services (NASDAQ:KELYA)

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