Bailard Inc. Raises Stock Holdings in Kelly Services, Inc. (NASDAQ:KELYA)

Bailard Inc. boosted its position in Kelly Services, Inc. (NASDAQ:KELYA) by 6.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,874 shares of the business services provider’s stock after purchasing an additional 700 shares during the quarter. Bailard Inc.’s holdings in Kelly Services were worth $233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Kelly Services in the first quarter worth approximately $125,000. Lazard Asset Management LLC bought a new position in Kelly Services in the 1st quarter valued at approximately $177,000. Susquehanna Fundamental Investments LLC purchased a new stake in Kelly Services during the 1st quarter valued at $221,000. Price T Rowe Associates Inc. MD purchased a new stake in Kelly Services during the 1st quarter valued at $225,000. Finally, Brandes Investment Partners LP bought a new stake in shares of Kelly Services in the 4th quarter worth $259,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on KELYA shares. Barrington Research reissued an “outperform” rating and set a $29.00 price target on shares of Kelly Services in a report on Thursday, August 15th. StockNews.com downgraded Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th.

Kelly Services Trading Down 0.5 %

NASDAQ:KELYA opened at $20.80 on Wednesday. The stock has a market capitalization of $738.86 million, a P/E ratio of 14.96, a P/E/G ratio of 0.80 and a beta of 1.21. Kelly Services, Inc. has a 12-month low of $17.40 and a 12-month high of $25.27. The stock has a 50-day moving average price of $21.39 and a 200 day moving average price of $22.58.

Kelly Services (NASDAQ:KELYA) last posted its earnings results on Thursday, August 8th. The business services provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.15. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Kelly Services had a return on equity of 6.87% and a net margin of 1.11%. The firm’s revenue for the quarter was down 13.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. On average, research analysts predict that Kelly Services, Inc. will post 2.16 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Wednesday, August 21st. Kelly Services’s dividend payout ratio is 21.58%.

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.