Grantham Mayo Van Otterloo & Co. LLC Sells 11,100 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

Grantham Mayo Van Otterloo & Co. LLC reduced its position in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 23.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,900 shares of the business services provider’s stock after selling 11,100 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.10% of Kelly Services worth $596,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in Kelly Services by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 417,195 shares of the business services provider’s stock worth $9,050,000 after buying an additional 2,941 shares during the period. American Century Companies Inc. increased its position in Kelly Services by 26.0% during the 1st quarter. American Century Companies Inc. now owns 67,385 shares of the business services provider’s stock valued at $1,462,000 after purchasing an additional 13,906 shares during the period. US Bancorp DE raised its holdings in Kelly Services by 16.9% in the 1st quarter. US Bancorp DE now owns 4,185 shares of the business services provider’s stock worth $91,000 after purchasing an additional 606 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Kelly Services by 66.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,038 shares of the business services provider’s stock worth $132,000 after purchasing an additional 2,401 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in shares of Kelly Services by 48.2% during the 1st quarter. MetLife Investment Management LLC now owns 18,311 shares of the business services provider’s stock valued at $397,000 after purchasing an additional 5,957 shares in the last quarter. Hedge funds and other institutional investors own 73.09% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. StockNews.com cut Kelly Services from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Barrington Research increased their price objective on Kelly Services from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday, August 14th.

Kelly Services Stock Performance

Shares of NASDAQ KELYA opened at $18.10 on Wednesday. The company has a 50 day simple moving average of $17.97 and a two-hundred day simple moving average of $17.33. Kelly Services, Inc. has a fifty-two week low of $13.41 and a fifty-two week high of $19.43. The company has a market capitalization of $640.65 million, a price-to-earnings ratio of 452.50, a P/E/G ratio of 0.97 and a beta of 1.10.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Thursday, August 10th. The business services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Kelly Services had a net margin of 0.03% and a return on equity of 3.61%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period last year, the business earned $0.45 EPS. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. On average, analysts forecast that Kelly Services, Inc. will post 1.61 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 23rd will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Tuesday, August 22nd. Kelly Services’s dividend payout ratio (DPR) is currently 750.00%.

Kelly Services 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 placement services in the areas of office, professional, light industrial, and contact center specialties.