Teacher Retirement System of Texas Raises Stock Position in Kelly Services, Inc. (NASDAQ:KELYA)

Teacher Retirement System of Texas grew its holdings in Kelly Services, Inc. (NASDAQ:KELYA) by 138.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,277 shares of the business services provider’s stock after acquiring an additional 17,588 shares during the period. Teacher Retirement System of Texas owned about 0.09% of Kelly Services worth $655,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Kelly Services by 80.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,135 shares of the business services provider’s stock worth $148,000 after purchasing an additional 3,616 shares in the last quarter. EMC Capital Management boosted its stake in Kelly Services by 299.7% during the third quarter. EMC Capital Management now owns 9,504 shares of the business services provider’s stock valued at $173,000 after buying an additional 7,126 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Kelly Services by 32.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 14,233 shares of the business services provider’s stock valued at $259,000 after buying an additional 3,481 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Kelly Services in the 4th quarter worth approximately $346,000. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of Kelly Services during the 3rd quarter worth approximately $355,000. Institutional investors own 76.34% of the company’s stock.

Kelly Services Trading Down 0.4 %

KELYA opened at $22.18 on Friday. The stock has a 50-day moving average of $23.64 and a 200 day moving average of $22.27. Kelly Services, Inc. has a 12 month low of $16.62 and a 12 month high of $25.27. The firm has a market cap of $787.83 million, a P/E ratio of 15.96, a P/E/G ratio of 0.92 and a beta of 1.19.

Kelly Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Monday, May 20th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Friday, May 17th. Kelly Services’s dividend payout ratio is currently 21.58%.

Insider Activity at Kelly Services

In related news, SVP Timothy L. Dupree sold 12,711 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $24.98, for a total transaction of $317,520.78. Following the transaction, the senior vice president now directly owns 32,392 shares in the company, valued at approximately $809,152.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Kelly Services news, EVP Olivier Thirot sold 20,000 shares of Kelly Services stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $24.07, for a total transaction of $481,400.00. Following the completion of the sale, the executive vice president now directly owns 174,793 shares of the company’s stock, valued at approximately $4,207,267.51. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Timothy L. Dupree sold 12,711 shares of Kelly Services stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $24.98, for a total value of $317,520.78. Following the completion of the sale, the senior vice president now owns 32,392 shares of the company’s stock, valued at $809,152.16. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Barrington Research restated an “outperform” rating and issued a $29.00 price target on shares of Kelly Services in a research report on Monday, May 13th.

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.