Jacobs Levy Equity Management Inc. Has $7.06 Million Holdings in Kelly Services, Inc. (NASDAQ:KELYA)

Jacobs Levy Equity Management Inc. lifted its holdings in Kelly Services, Inc. (NASDAQ:KELYA) by 20.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 329,932 shares of the business services provider’s stock after purchasing an additional 56,457 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Kelly Services were worth $7,064,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Federated Hermes Inc. increased its stake in Kelly Services by 6.8% in the 2nd quarter. Federated Hermes Inc. now owns 10,454 shares of the business services provider’s stock valued at $224,000 after buying an additional 668 shares during the last quarter. Bailard Inc. grew its position in shares of Kelly Services by 6.9% during the 2nd quarter. Bailard Inc. now owns 10,874 shares of the business services provider’s stock worth $233,000 after purchasing an additional 700 shares in the last quarter. US Bancorp DE increased its stake in Kelly Services by 9.3% during the 3rd quarter. US Bancorp DE now owns 10,135 shares of the business services provider’s stock worth $217,000 after acquiring an additional 866 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of Kelly Services in the second quarter worth $30,000. Finally, Innealta Capital LLC acquired a new stake in shares of Kelly Services in the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 76.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. StockNews.com cut Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Barrington Research cut their price target on Kelly Services from $29.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, November 18th.

Kelly Services Stock Down 1.5 %

KELYA stock opened at $14.20 on Friday. The stock has a market cap of $505.66 million, a P/E ratio of 12.35, a P/E/G ratio of 0.57 and a beta of 1.12. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.18. The stock’s fifty day simple moving average is $18.11 and its two-hundred day simple moving average is $20.23. Kelly Services, Inc. has a 1-year low of $13.71 and a 1-year high of $25.27.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.23). The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS. Analysts expect that Kelly Services, Inc. will post 1.93 EPS for the current year.

Kelly Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were issued a $0.075 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $0.30 annualized dividend and a yield of 2.11%. Kelly Services’s dividend payout ratio (DPR) is presently 26.09%.

Insiders Place Their Bets

In other news, SVP Daniel H. Malan bought 3,500 shares of the stock in a transaction on Wednesday, November 20th. The shares were bought at an average price of $13.88 per share, with a total value of $48,580.00. Following the completion of the acquisition, the senior vice president now owns 95,906 shares in the company, valued at $1,331,175.28. The trade was a 3.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.90% of the company’s stock.

Kelly Services Company Profile

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.