Oak Thistle LLC Purchases New Shares in ManpowerGroup Inc. (NYSE:MAN)

Key Points

• Oak Thistle LLC has acquired a stake of 6,109 shares in ManpowerGroup Inc., valued at around $354,000.
• ManpowerGroup's dividend yield is currently at 3.5%, with a recent payout of $0.72 per share, despite a high payout ratio of -378.95%.
• Wall Street analysts have generally rated ManpowerGroup as a "hold," with a consensus target price of $48.20 following multiple adjustments to price objectives.

Oak Thistle LLC purchased a new position in ManpowerGroup Inc. (NYSE:MAN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,109 shares of the business services provider's stock, valued at approximately $354,000.

A number of other hedge funds also recently modified their holdings of the stock. SummerHaven Investment Management LLC raised its stake in ManpowerGroup by 2.1% in the 1st quarter. SummerHaven Investment Management LLC now owns 11,657 shares of the business services provider's stock valued at $675,000 after acquiring an additional 238 shares during the period. Fifth Third Bancorp raised its holdings in ManpowerGroup by 48.6% during the 1st quarter. Fifth Third Bancorp now owns 743 shares of the business services provider's stock valued at $43,000 after acquiring an additional 243 shares during the period. Principal Financial Group Inc. raised its holdings in ManpowerGroup by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 107,969 shares of the business services provider's stock valued at $6,249,000 after acquiring an additional 278 shares during the period. Vident Advisory LLC raised its holdings in ManpowerGroup by 2.8% during the 4th quarter. Vident Advisory LLC now owns 10,708 shares of the business services provider's stock valued at $618,000 after acquiring an additional 290 shares during the period. Finally, KBC Group NV raised its holdings in ManpowerGroup by 0.6% during the 1st quarter. KBC Group NV now owns 54,456 shares of the business services provider's stock valued at $3,152,000 after acquiring an additional 347 shares during the period. Institutional investors own 98.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MAN shares. Truist Financial dropped their price objective on ManpowerGroup from $55.00 to $48.00 and set a "hold" rating on the stock in a report on Monday, April 21st. UBS Group upped their target price on shares of ManpowerGroup from $42.00 to $45.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. JPMorgan Chase & Co. decreased their target price on shares of ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Barclays raised shares of ManpowerGroup from an "underweight" rating to an "equal weight" rating and decreased their price target for the stock from $55.00 to $50.00 in a report on Thursday, April 10th. Finally, Wall Street Zen raised shares of ManpowerGroup from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $48.20.

ManpowerGroup Trading Down 1.4%

Shares of MAN stock traded down $0.64 on Tuesday, hitting $44.54. 146,909 shares of the company's stock traded hands, compared to its average volume of 913,840. The company's fifty day simple moving average is $42.27 and its 200 day simple moving average is $49.47. ManpowerGroup Inc. has a one year low of $37.99 and a one year high of $77.85. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -117.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.12 and a current ratio of 0.98.

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

ManpowerGroup Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.72 dividend. The ex-dividend date was Monday, June 2nd. This represents a dividend yield of 3.5%. ManpowerGroup's payout ratio is presently -378.95%.

ManpowerGroup Profile

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.