Los Angeles Capital Management LLC Trims Holdings in Kelly Services, Inc. (NASDAQ:KELYA)

Los Angeles Capital Management LLC lessened its stake in Kelly Services, Inc. (NASDAQ:KELYA) by 9.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,055 shares of the business services provider’s stock after selling 5,550 shares during the period. Los Angeles Capital Management LLC owned about 0.16% of Kelly Services worth $1,200,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas increased its holdings in shares of Kelly Services by 138.6% in the 4th quarter. Teacher Retirement System of Texas now owns 30,277 shares of the business services provider’s stock valued at $655,000 after acquiring an additional 17,588 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Kelly Services by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,694,094 shares of the business services provider’s stock worth $58,247,000 after purchasing an additional 22,006 shares during the period. Janney Montgomery Scott LLC bought a new stake in Kelly Services during the fourth quarter valued at $466,000. ARGA Investment Management LP raised its holdings in shares of Kelly Services by 167.0% during the fourth quarter. ARGA Investment Management LP now owns 33,010 shares of the business services provider’s stock worth $714,000 after purchasing an additional 20,645 shares during the period. Finally, Brandes Investment Partners LP bought a new position in shares of Kelly Services in the 4th quarter worth about $259,000. 76.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Barrington Research restated an “outperform” rating and issued a $29.00 target price on shares of Kelly Services in a research note on Thursday, August 15th.

Kelly Services Stock Up 2.0 %

Kelly Services stock opened at $20.96 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.61 and a current ratio of 1.61. Kelly Services, Inc. has a one year low of $17.40 and a one year high of $25.27. The company has a 50-day simple moving average of $21.22 and a 200-day simple moving average of $22.46. The firm has a market capitalization of $744.54 million, a P/E ratio of 15.08, a P/E/G ratio of 0.62 and a beta of 1.19.

Kelly Services (NASDAQ:KELYA) last posted its earnings results on Thursday, August 8th. The business services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.56 by $0.15. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Kelly Services had a net margin of 1.09% and a return on equity of 7.82%. Kelly Services’s quarterly revenue was down 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. As a group, equities analysts expect that Kelly Services, Inc. will post 2.49 earnings per share for the current year.

Kelly Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a $0.075 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.30 annualized dividend and a dividend yield of 1.43%. Kelly Services’s payout ratio is 21.58%.

About Kelly Services

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.