Kelly Services, Inc. (NASDAQ:KELYA – Get Free Report) announced a quarterly dividend on Tuesday, November 7th, NASDAQ reports. Shareholders of record on Wednesday, November 22nd will be paid a dividend of 0.075 per share by the business services provider on Wednesday, December 6th. This represents a $0.30 annualized dividend and a yield of 1.44%. The ex-dividend date is Tuesday, November 21st.
Kelly Services has decreased its dividend payment by an average of 2.9% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Kelly Services has a payout ratio of 15.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Kelly Services to earn $2.16 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 13.9%.
Kelly Services Trading Up 0.6 %
Shares of Kelly Services stock traded up $0.13 during trading on Friday, hitting $20.80. 153,320 shares of the stock were exchanged, compared to its average volume of 168,769. The stock has a market capitalization of $736.32 million, a price-to-earnings ratio of 32.00, a price-to-earnings-growth ratio of 0.93 and a beta of 1.11. The company has a fifty day moving average price of $18.56 and a 200-day moving average price of $18.13. Kelly Services has a 1-year low of $15.07 and a 1-year high of $21.08.
Wall Street Analyst Weigh In
KELYA has been the subject of several research analyst reports. StockNews.com raised shares of Kelly Services from a “hold” rating to a “buy” rating in a report on Friday, October 13th. Barrington Research reaffirmed an “outperform” rating and set a $26.00 target price on shares of Kelly Services in a report on Wednesday. Finally, TheStreet raised shares of Kelly Services from a “c” rating to a “b-” rating in a report on Thursday, November 9th.
Institutional Trading of Kelly Services
A number of institutional investors have recently bought and sold shares of KELYA. Bank of New York Mellon Corp boosted 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 valued at $9,050,000 after purchasing an additional 2,941 shares during the period. American Century Companies Inc. lifted its holdings in shares of 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 worth $1,462,000 after acquiring an additional 13,906 shares during the period. US Bancorp DE lifted its holdings in shares of Kelly Services by 16.9% during the 1st quarter. US Bancorp DE now owns 4,185 shares of the business services provider’s stock worth $91,000 after acquiring an additional 606 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Kelly Services by 66.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,038 shares of the business services provider’s stock worth $132,000 after acquiring an additional 2,401 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings 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 worth $397,000 after acquiring an additional 5,957 shares during the period. Institutional investors own 73.09% of the company’s stock.
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 placement services in the areas of office, professional, light industrial, and contact center specialties.
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