464,504 Shares in Kelly Services, Inc. $KELYA Bought by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. bought a new position in shares of Kelly Services, Inc. (NASDAQ:KELYA) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 464,504 shares of the business services provider’s stock, valued at approximately $5,704,000.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Kelly Services by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,071,363 shares of the business services provider’s stock valued at $27,176,000 after purchasing an additional 151,655 shares during the period. Boston Partners increased its stake in Kelly Services by 0.4% in the 3rd quarter. Boston Partners now owns 2,051,499 shares of the business services provider’s stock worth $26,908,000 after purchasing an additional 9,020 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 buying an additional 544,309 shares during the period. Private Management Group Inc. lifted its stake in Kelly Services by 101.8% during the fourth quarter. Private Management Group Inc. now owns 1,268,649 shares of the business services provider’s stock valued at $11,164,000 after buying an additional 640,076 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Kelly Services by 8.5% during 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 in the last quarter. 76.34% of the stock is owned by hedge funds and other institutional investors.

Kelly Services Stock Performance

Shares of Kelly Services stock opened at $17.09 on Friday. Kelly Services, Inc. has a 12 month low of $7.98 and a 12 month high of $17.75. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The stock has a market cap of $593.57 million, a PE ratio of -2.19, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. The business has a fifty day simple moving average of $14.25 and a 200-day simple moving average of $11.36.

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

Kelly Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.30 dividend on an annualized basis and a yield of 1.8%. Kelly Services’s payout ratio is presently -3.84%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Kelly Services in a research report on Friday, August 7th. Barrington Research boosted their price target on shares of Kelly Services from $15.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.00.

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.