Zebra Capital Management LLC Lowers Stake in Kelly Services, Inc. (NASDAQ:KELYA)

Zebra Capital Management LLC lowered its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 29.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 26,944 shares of the business services provider’s stock after selling 11,152 shares during the period. Zebra Capital Management LLC’s holdings in Kelly Services were worth $706,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Palouse Capital Management Inc. raised its position in shares of Kelly Services by 5.0% during the 1st quarter. Palouse Capital Management Inc. now owns 11,406 shares of the business services provider’s stock valued at $252,000 after buying an additional 543 shares in the last quarter. Meeder Asset Management Inc. raised its position in Kelly Services by 9.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 6,929 shares of the business services provider’s stock worth $182,000 after purchasing an additional 586 shares during the period. Panagora Asset Management Inc. raised its position in Kelly Services by 20.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 3,618 shares of the business services provider’s stock worth $95,000 after purchasing an additional 618 shares during the period. Comerica Bank raised its position in Kelly Services by 2.4% in the 1st quarter. Comerica Bank now owns 31,290 shares of the business services provider’s stock worth $709,000 after purchasing an additional 719 shares during the period. Finally, Texas Permanent School Fund raised its position in Kelly Services by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 21,176 shares of the business services provider’s stock worth $467,000 after purchasing an additional 770 shares during the period. Hedge funds and other institutional investors own 66.33% of the company’s stock.

In other Kelly Services news, VP Bhupendra C. Shah sold 1,161 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $64.41, for a total value of $74,780.01. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider James Polehna sold 1,784 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $27.42, for a total transaction of $48,917.28. Following the completion of the transaction, the insider now owns 21,399 shares in the company, valued at approximately $586,760.58. The disclosure for this sale can be found here. Insiders sold 32,325 shares of company stock worth $863,445 in the last 90 days. Corporate insiders own 7.20% of the company’s stock.



A number of equities analysts recently commented on the stock. BidaskClub cut shares of Kelly Services from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Noble Financial assumed coverage on shares of Kelly Services in a research report on Tuesday, July 30th. They issued an “outperform” rating and a $32.00 target price on the stock. ValuEngine cut shares of Kelly Services from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. Northcoast Research cut shares of Kelly Services from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 28th. Finally, Zacks Investment Research cut shares of Kelly Services from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $30.00.

NASDAQ:KELYA traded down $0.23 during trading hours on Wednesday, reaching $24.53. The company’s stock had a trading volume of 5,341 shares, compared to its average volume of 167,033. The firm has a market capitalization of $960.78 million, a price-to-earnings ratio of 10.78 and a beta of 0.80. The firm has a 50-day simple moving average of $26.06 and a 200-day simple moving average of $24.60. Kelly Services, Inc. has a 1 year low of $19.21 and a 1 year high of $28.91. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.50 and a current ratio of 1.50.

Kelly Services (NASDAQ:KELYA) last issued its earnings results on Wednesday, August 7th. The business services provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.16. Kelly Services had a net margin of 2.09% and a return on equity of 8.41%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the company earned $0.54 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. Equities analysts anticipate that Kelly Services, Inc. will post 2.28 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Monday, August 19th. Kelly Services’s payout ratio is 13.22%.

Kelly Services Company Profile

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions, and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.

Further Reading: Bar Chart

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

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