Public Employees Retirement System of Ohio Acquires Shares of 61,519 Kelly Services, Inc. $KELYA

Public Employees Retirement System of Ohio bought a new position in shares of Kelly Services, Inc. (NASDAQ:KELYA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 61,519 shares of the business services provider’s stock, valued at approximately $755,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Kelly Services by 7.9% in the third quarter. Vanguard Group Inc. now owns 2,071,363 shares of the business services provider’s stock valued at $27,176,000 after buying an additional 151,655 shares in the last quarter. Boston Partners grew its position in Kelly Services by 0.4% during the third quarter. Boston Partners now owns 2,051,499 shares of the business services provider’s stock worth $26,908,000 after buying an additional 9,020 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Kelly Services by 39.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,908,900 shares of the business services provider’s stock worth $16,798,000 after acquiring an additional 544,309 shares during the period. Private Management Group Inc. increased its stake in Kelly Services by 101.8% during the 4th quarter. Private Management Group Inc. now owns 1,268,649 shares of the business services provider’s stock worth $11,164,000 after acquiring an additional 640,076 shares during the period. Finally, Millennium Management LLC raised its holdings in Kelly Services by 8.5% in the 1st quarter. Millennium Management LLC now owns 1,188,264 shares of the business services provider’s stock valued at $15,649,000 after acquiring an additional 93,026 shares in the last quarter. 76.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KELYA has been the subject of a number of recent analyst reports. Weiss Ratings upgraded Kelly Services from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Barrington Research boosted their price target on Kelly Services from $15.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.00.

Kelly Services Stock Down 0.4%

NASDAQ KELYA opened at $15.96 on Thursday. The business has a fifty day moving average price of $15.53 and a two-hundred day moving average price of $11.96. The stock has a market capitalization of $554.29 million, a PE ratio of -2.04, a PEG ratio of 1.12 and a beta of 0.87. Kelly Services, Inc. has a fifty-two week low of $7.98 and a fifty-two week high of $17.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 1.50.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.19. Kelly Services had a positive return on equity of 2.69% and a negative net margin of 6.73%.The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company posted $0.52 EPS. Equities analysts expect that Kelly Services, Inc. will post 1.1 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were paid a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.30 annualized dividend and a yield of 1.9%. Kelly Services’s dividend payout ratio (DPR) is -3.84%.

Kelly Services Company Profile

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.