Kelly Services, Inc. (NASDAQ:KELYA) Position Lessened by Comerica Bank

Comerica Bank trimmed its position in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 6.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 536,903 shares of the business services provider’s stock after selling 35,930 shares during the period. Comerica Bank’s holdings in Kelly Services were worth $13,444,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of KELYA. SG Americas Securities LLC bought a new position in shares of Kelly Services in the first quarter worth about $125,000. Lazard Asset Management LLC bought a new position in shares of Kelly Services in the first quarter worth about $177,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Kelly Services in the first quarter worth about $221,000. Price T Rowe Associates Inc. MD bought a new position in shares of Kelly Services in the first quarter worth about $225,000. Finally, Brandes Investment Partners LP bought a new position in Kelly Services during the fourth quarter valued at about $259,000. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

Kelly Services Stock Performance

Shares of KELYA stock traded down $1.16 during trading hours on Thursday, hitting $22.37. The company had a trading volume of 69,096 shares, compared to its average volume of 236,559. Kelly Services, Inc. has a 12 month low of $16.85 and a 12 month high of $25.27. The firm has a market capitalization of $794.58 million, a price-to-earnings ratio of 16.55, a PEG ratio of 0.84 and a beta of 1.22. The firm’s fifty day moving average is $21.81 and its 200 day moving average is $22.61.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.10. Kelly Services had a return on equity of 6.87% and a net margin of 1.11%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. On average, sell-side analysts expect that Kelly Services, Inc. will post 2.16 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Friday, May 17th. Kelly Services’s payout ratio is 21.58%.

Wall Street Analysts Forecast Growth

Separately, Barrington Research restated an “outperform” rating and set a $29.00 price target on shares of Kelly Services in a research note on Tuesday, May 28th.

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.