Dimensional Fund Advisors LP Increases Stake in Kelly Services, Inc. (KELYA)

Dimensional Fund Advisors LP increased its position in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,945,394 shares of the business services provider’s stock after buying an additional 9,868 shares during the period. Dimensional Fund Advisors LP owned about 7.69% of Kelly Services worth $73,900,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan grew its stake in Kelly Services by 4.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 101,000 shares of the business services provider’s stock valued at $2,534,000 after purchasing an additional 4,520 shares during the last quarter. Vanguard Group Inc. grew its stake in Kelly Services by 0.3% in the second quarter. Vanguard Group Inc. now owns 2,720,771 shares of the business services provider’s stock valued at $61,081,000 after purchasing an additional 9,394 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Kelly Services by 32.1% in the second quarter. Goldman Sachs Group Inc. now owns 67,929 shares of the business services provider’s stock valued at $1,525,000 after purchasing an additional 16,504 shares during the last quarter. Brandes Investment Partners LP purchased a new position in Kelly Services in the second quarter valued at about $1,110,000. Finally, Chicago Equity Partners LLC grew its stake in Kelly Services by 449.4% in the second quarter. Chicago Equity Partners LLC now owns 99,285 shares of the business services provider’s stock valued at $2,229,000 after purchasing an additional 81,215 shares during the last quarter. Hedge funds and other institutional investors own 65.91% of the company’s stock.

In other Kelly Services news, Director Jane E. Dutton sold 6,900 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $29.05, for a total value of $200,445.00. Following the completion of the transaction, the director now directly owns 24,180 shares of the company’s stock, valued at $702,429. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leslie A. Murphy sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $28.69, for a total value of $215,175.00. Following the completion of the transaction, the director now directly owns 22,695 shares of the company’s stock, valued at $651,119.55. The disclosure for this sale can be found here. Insiders have sold 17,400 shares of company stock valued at $499,800 in the last ninety days. Corporate insiders own 16.10% of the company’s stock.

Several brokerages have weighed in on KELYA. BidaskClub downgraded Kelly Services from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Zacks Investment Research raised Kelly Services from a “hold” rating to a “strong-buy” rating and set a $32.00 price target for the company in a report on Tuesday, November 14th.

Shares of Kelly Services, Inc. (NASDAQ KELYA) opened at $28.20 on Tuesday. The firm has a market capitalization of $1,080.00, a PE ratio of 15.08 and a beta of 1.09. Kelly Services, Inc. has a twelve month low of $20.27 and a twelve month high of $30.93.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.27. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.30 billion. Kelly Services had a return on equity of 7.25% and a net margin of 1.44%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share. research analysts anticipate that Kelly Services, Inc. will post 2.04 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 7th. Investors of record on Wednesday, November 22nd were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Tuesday, November 21st. Kelly Services’s dividend payout ratio (DPR) is 16.04%.

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Kelly Services Profile

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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Institutional Ownership by Quarter for Kelly Services (NASDAQ:KELYA)

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