OppenheimerFunds Inc. decreased its stake in Kelly Services, Inc. (NASDAQ:KELYA) by 23.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,442 shares of the business services provider’s stock after selling 36,257 shares during the quarter. OppenheimerFunds Inc.’s holdings in Kelly Services were worth $3,312,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its stake in shares of Kelly Services by 58.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 329,697 shares of the business services provider’s stock worth $8,991,000 after buying an additional 121,933 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Kelly Services in the fourth quarter worth about $210,000. UBS Asset Management Americas Inc. purchased a new stake in shares of Kelly Services in the fourth quarter worth about $240,000. BlackRock Inc. boosted its stake in shares of Kelly Services by 4.4% in the fourth quarter. BlackRock Inc. now owns 3,980,829 shares of the business services provider’s stock worth $108,558,000 after buying an additional 166,756 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Kelly Services by 16.3% in the fourth quarter. Rhumbline Advisers now owns 73,048 shares of the business services provider’s stock worth $1,992,000 after buying an additional 10,220 shares during the last quarter. Hedge funds and other institutional investors own 66.04% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Kelly Services from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Wednesday, February 7th. BidaskClub downgraded Kelly Services from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, ValuEngine upgraded Kelly Services from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st.
Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.18. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. Kelly Services had a return on equity of 7.92% and a net margin of 1.33%. Kelly Services’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 earnings per share. analysts expect that Kelly Services, Inc. will post 2.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Monday, February 26th will be given a $0.075 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.30 annualized dividend and a dividend yield of 1.00%. Kelly Services’s dividend payout ratio (DPR) is presently 16.57%.
About Kelly Services
Kelly Services, Inc is a workforce solutions provider, which is engaged in offering a range of specialty services. The Company provides workforce solutions in three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). The Company’s segments are Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), and Outsourcing and Consulting Group (OCG).
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