Kelly Services, Inc. (NASDAQ:KELYA) to Issue $0.07 Quarterly Dividend

Kelly Services, Inc. (NASDAQ:KELYA) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Wednesday, August 19th will be given a dividend of 0.075 per share by the business services provider on Wednesday, September 2nd. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, August 19th.

Kelly Services has increased its dividend by an average of 0.3%annually over the last three years. Kelly Services has a dividend payout ratio of 10.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kelly Services to earn $1.83 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 16.4%.

Kelly Services Stock Performance

KELYA stock opened at $16.06 on Monday. The company has a 50-day simple moving average of $13.78 and a 200 day simple moving average of $11.14. The company has a market capitalization of $557.76 million, a P/E ratio of -2.06, a PEG ratio of 1.12 and a beta of 0.83. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. Kelly Services has a fifty-two week low of $7.98 and a fifty-two week high of $17.75.

Kelly Services (NASDAQ:KELYA) last released its earnings results on Thursday, August 6th. The business services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.18 by $0.19. Kelly Services had a negative net margin of 6.73% and a positive return on equity of 2.69%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company earned $0.52 EPS. Sell-side analysts predict that Kelly Services will post 1.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kelly Services

Institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in Kelly Services by 24.3% in the first quarter. AQR Capital Management LLC now owns 373,269 shares of the business services provider’s stock worth $4,916,000 after buying an additional 73,040 shares during the last quarter. Millennium Management LLC grew its position in Kelly Services by 8.5% in the first quarter. Millennium Management LLC now owns 1,188,264 shares of the business services provider’s stock worth $15,649,000 after acquiring an additional 93,026 shares in the last quarter. Empowered Funds LLC grew its position in Kelly Services by 4.2% in the first quarter. Empowered Funds LLC now owns 214,829 shares of the business services provider’s stock worth $2,829,000 after acquiring an additional 8,562 shares in the last quarter. Quantbot Technologies LP increased its stake in shares of Kelly Services by 16.0% during the 2nd quarter. Quantbot Technologies LP now owns 29,357 shares of the business services provider’s stock worth $344,000 after purchasing an additional 4,043 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Kelly Services by 1.5% during the 2nd quarter. Invesco Ltd. now owns 472,191 shares of the business services provider’s stock worth $5,529,000 after purchasing an additional 6,876 shares during the last quarter. 76.34% of the stock is currently owned by institutional investors and hedge funds.

About Kelly Services

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.