Barclays PLC Boosts Holdings in Kelly Services, Inc. (NASDAQ:KELYA)

Barclays PLC raised its holdings in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 238.0% in the third quarter, Holdings Channel reports. The institutional investor owned 63,638 shares of the business services provider’s stock after acquiring an additional 44,811 shares during the period. Barclays PLC’s holdings in Kelly Services were worth $1,362,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. grew its position in shares of Kelly Services by 6.8% during the 2nd quarter. Federated Hermes Inc. now owns 10,454 shares of the business services provider’s stock valued at $224,000 after acquiring an additional 668 shares during the period. US Bancorp DE lifted its position in Kelly Services by 9.3% during the third 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. Northwestern Mutual Wealth Management Co. purchased a new position in Kelly Services during the second quarter valued at $30,000. nVerses Capital LLC bought a new stake in Kelly Services during the second quarter valued at about $47,000. Finally, Meeder Asset Management Inc. purchased a new stake in Kelly Services in the second quarter worth about $51,000. 76.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Barrington Research lowered their price objective on Kelly Services from $29.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, November 18th.

Kelly Services Stock Performance

KELYA opened at $13.18 on Friday. The company has a 50 day simple moving average of $15.85 and a two-hundred day simple moving average of $19.30. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market cap of $469.34 million, a P/E ratio of 11.46, a PEG ratio of 0.55 and a beta of 1.12. Kelly Services, Inc. has a 1-year low of $12.68 and a 1-year high of $25.27.

Kelly Services (NASDAQ:KELYA) last issued its earnings results on Thursday, November 7th. The business services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.23). The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.07 billion. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. The company’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 EPS. Equities analysts forecast that Kelly Services, Inc. will post 1.93 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Wednesday, November 20th. Kelly Services’s dividend payout ratio is currently 26.09%.

Insider Activity at Kelly Services

In related news, SVP Daniel H. Malan purchased 3,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were acquired at an average price of $13.88 per share, for a total transaction of $48,580.00. Following the purchase, the senior vice president now directly owns 95,906 shares in the company, valued at $1,331,175.28. This trade represents a 3.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.90% of the stock is owned by corporate insiders.

Kelly Services 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.