Verus Capital Partners LLC Invests $754,000 in Kelly Services, Inc. $KELYA

Verus Capital Partners LLC acquired a new stake in Kelly Services, Inc. (NASDAQ:KELYA) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 57,500 shares of the business services provider’s stock, valued at approximately $754,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in 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 worth $27,176,000 after purchasing an additional 151,655 shares during the period. Millennium Management LLC lifted its holdings in shares of Kelly Services by 8.5% in the first quarter. Millennium Management LLC now owns 1,188,264 shares of the business services provider’s stock valued at $15,649,000 after buying an additional 93,026 shares during the period. Geode Capital Management LLC boosted its stake in Kelly Services by 1.5% during the second quarter. Geode Capital Management LLC now owns 784,978 shares of the business services provider’s stock valued at $9,194,000 after buying an additional 11,397 shares in the last quarter. LSV Asset Management grew its holdings in Kelly Services by 11.6% during the second quarter. LSV Asset Management now owns 561,329 shares of the business services provider’s stock worth $6,573,000 after acquiring an additional 58,200 shares during the period. Finally, Qube Research & Technologies Ltd raised its position in Kelly Services by 8.4% in the second quarter. Qube Research & Technologies Ltd now owns 517,614 shares of the business services provider’s stock worth $6,061,000 after acquiring an additional 40,228 shares in the last quarter. Institutional investors and hedge funds own 76.34% of the company’s stock.

Kelly Services Stock Down 5.1%

KELYA stock opened at $9.35 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.54 and a quick ratio of 1.54. The firm has a market capitalization of $319.86 million, a P/E ratio of -1.29, a P/E/G ratio of 0.72 and a beta of 0.79. Kelly Services, Inc. has a 52-week low of $7.98 and a 52-week high of $14.94. The company’s 50 day simple moving average is $9.65 and its 200-day simple moving average is $11.07.

Kelly Services (NASDAQ:KELYA) last issued its earnings results on Thursday, February 12th. The business services provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.29). Kelly Services had a positive return on equity of 4.05% and a negative net margin of 5.98%.The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. As a group, equities research analysts anticipate that Kelly Services, Inc. will post 2.45 EPS for the current year.

Kelly Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, February 25th. Kelly Services’s payout ratio is currently -4.13%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on KELYA shares. Weiss Ratings restated a “sell (d)” rating on shares of Kelly Services in a research report on Thursday, January 22nd. Zacks Research lowered shares of Kelly Services from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Barrington Research reduced their target price on shares of Kelly Services from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, February 13th. Finally, Wall Street Zen raised Kelly Services from a “sell” rating to a “hold” rating in a report on Sunday. Two investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.00.

Kelly Services 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.