Mackenzie Financial Corp Sells 8,587 Shares of ManpowerGroup Inc. (NYSE:MAN)

Key Points

• Mackenzie Financial Corp reduced its stake in ManpowerGroup Inc. by 15.5%, owning 46,967 shares valued at approximately $2.72 million after selling 8,587 shares in the first quarter.
• ManpowerGroup reported $0.78 earnings per share for the last quarter, surpassing expectations, despite a 0.5% revenue decline year-over-year.
• The company's recent semi-annual dividend of $0.72 indicates a yield of 350.0%, but the dividend payout ratio is negative at -378.95%.

Mackenzie Financial Corp decreased its holdings in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 15.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,967 shares of the business services provider's stock after selling 8,587 shares during the quarter. Mackenzie Financial Corp owned approximately 0.10% of ManpowerGroup worth $2,718,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MAN. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of ManpowerGroup by 8.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,291 shares of the business services provider's stock valued at $654,000 after purchasing an additional 916 shares during the period. Cetera Investment Advisers grew its stake in ManpowerGroup by 16.5% during the first quarter. Cetera Investment Advisers now owns 9,748 shares of the business services provider's stock worth $564,000 after buying an additional 1,381 shares in the last quarter. Royce & Associates LP grew its stake in ManpowerGroup by 9.7% during the first quarter. Royce & Associates LP now owns 68,027 shares of the business services provider's stock worth $3,937,000 after buying an additional 6,000 shares in the last quarter. Oak Thistle LLC acquired a new stake in ManpowerGroup during the first quarter worth about $354,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of ManpowerGroup by 16.6% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 56,330 shares of the business services provider's stock valued at $3,260,000 after purchasing an additional 8,000 shares in the last quarter. Institutional investors and hedge funds own 98.03% of the company's stock.

Analyst Ratings Changes

MAN has been the topic of a number of research analyst reports. BMO Capital Markets reduced their price target on shares of ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. Barclays upgraded shares of ManpowerGroup from an "underweight" rating to an "equal weight" rating and cut their target price for the stock from $55.00 to $50.00 in a research report on Thursday, April 10th. Truist Financial dropped their price target on shares of ManpowerGroup from $55.00 to $48.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. Wall Street Zen upgraded shares of ManpowerGroup from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Finally, JPMorgan Chase & Co. dropped their target price on shares of ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $48.20.

ManpowerGroup Stock Down 2.7%

Shares of NYSE MAN traded down $1.07 during trading on Wednesday, hitting $38.18. The stock had a trading volume of 415,458 shares, compared to its average volume of 919,583. The company has a market capitalization of $1.77 billion, a PE ratio of -100.57 and a beta of 1.08. The firm has a fifty day moving average of $42.04 and a two-hundred day moving average of $48.80. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.98 and a quick ratio of 1.12. ManpowerGroup Inc. has a 12 month low of $37.97 and a 12 month high of $75.57.

ManpowerGroup (NYSE:MAN - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The business services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.69 by $0.09. ManpowerGroup had a negative net margin of 0.09% and a positive return on equity of 7.98%. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. The company's revenue was down .5% compared to the same quarter last year. As a group, equities research analysts forecast that ManpowerGroup Inc. will post 4.23 EPS for the current fiscal year.

About ManpowerGroup

ManpowerGroup Inc provides workforce solutions and services worldwide. The company offers recruitment services, including permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions under the Manpower and Experis brands. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.