Wpp Plc (NYSE:WPP) Receives Consensus Rating of “Hold” from Brokerages

Shares of Wpp Plc (NYSE:WPP) have received an average rating of “Hold” from the six brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company.

Several research analysts have commented on the stock. Zacks Research raised shares of WPP from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Wall Street Zen raised shares of WPP from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Citigroup assumed coverage on shares of WPP in a research report on Monday, January 12th. They issued a “neutral” rating on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of WPP in a research note on Wednesday, January 21st. Finally, Barclays upgraded shares of WPP from an “underweight” rating to an “equal weight” rating in a research report on Friday, February 27th.

WPP Stock Performance

WPP opened at $17.79 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.89 and a quick ratio of 0.89. WPP has a 52 week low of $14.81 and a 52 week high of $40.94. The business’s fifty day simple moving average is $17.05 and its 200 day simple moving average is $19.99.

WPP Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, July 6th. Stockholders of record on Friday, June 5th will be paid a dividend of $0.5079 per share. This represents a dividend yield of 616.0%. The ex-dividend date of this dividend is Friday, June 5th.

Institutional Investors Weigh In On WPP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of WPP by 0.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,186,191 shares of the business services provider’s stock worth $255,164,000 after purchasing an additional 47,289 shares during the period. Mondrian Investment Partners LTD boosted its holdings in WPP by 1.5% in the fourth quarter. Mondrian Investment Partners LTD now owns 3,240,219 shares of the business services provider’s stock valued at $72,775,000 after acquiring an additional 48,714 shares in the last quarter. Dimensional Fund Advisors LP increased its position in WPP by 12.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 861,579 shares of the business services provider’s stock valued at $21,555,000 after purchasing an additional 94,162 shares during the period. Royal Bank of Canada increased its position in WPP by 7.5% during the 4th quarter. Royal Bank of Canada now owns 481,076 shares of the business services provider’s stock valued at $10,805,000 after purchasing an additional 33,433 shares during the period. Finally, Bank of America Corp DE raised its holdings in WPP by 10.8% in the 2nd quarter. Bank of America Corp DE now owns 470,900 shares of the business services provider’s stock worth $16,486,000 after purchasing an additional 45,866 shares in the last quarter. 4.34% of the stock is currently owned by institutional investors.

WPP Company Profile

WPP plc (NYSE: WPP) is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world’s largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.