Wpp Plc (NYSE:WPP) Given Average Rating of “Hold” by Brokerages

Wpp Plc (NYSE:WPP) has earned a consensus rating of “Hold” from the eight analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company.

A number of analysts recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of WPP in a research report on Wednesday, June 3rd. They set a “sell” rating on the stock. Citigroup reiterated a “neutral” rating on shares of WPP in a report on Monday, August 10th. Weiss Ratings restated a “sell (d)” rating on shares of WPP in a report on Tuesday, June 16th. Rothschild & Co Redburn initiated coverage on WPP in a research report on Thursday, May 28th. They issued a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of WPP in a research note on Tuesday, September 8th.

WPP Stock Up 4.4%

Shares of WPP opened at $26.08 on Tuesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.87 and a quick ratio of 0.89. WPP has a 1-year low of $14.81 and a 1-year high of $27.78. The firm has a 50 day simple moving average of $23.00 and a 200-day simple moving average of $19.36.

WPP Cuts Dividend

The firm also recently declared a dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be issued a $0.5052 dividend. The ex-dividend date is Friday, October 9th. This represents a yield of 390.0%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. increased its stake in shares of WPP by 455.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,318 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 1,901 shares during the period. Caitong International Asset Management Co. Ltd grew its position in WPP by 195.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,348 shares of the business services provider’s stock valued at $75,000 after buying an additional 2,214 shares in the last quarter. Sanctuary Advisors LLC increased its stake in WPP by 75.9% during the 4th quarter. Sanctuary Advisors LLC now owns 11,577 shares of the business services provider’s stock valued at $260,000 after buying an additional 4,995 shares during the period. Abacus Wealth Partners LLC bought a new stake in shares of WPP during the 4th quarter worth about $270,000. Finally, Assetmark Inc. boosted its holdings in shares of WPP by 75.0% in the first quarter. Assetmark Inc. now owns 17,340 shares of the business services provider’s stock valued at $270,000 after acquiring an additional 7,433 shares in the last quarter. Institutional investors and hedge funds own 4.34% of the company’s stock.

About WPP

WPP plc is a global marketing and communications company headquartered in London, United Kingdom. It provides advertising, branding, public relations, media investment, customer experience, commerce, data, and technology services to businesses and organizations around the world.

WPP operates through a portfolio of agencies and specialist businesses, including Ogilvy, VML, Burson, and WPP Media. Its services support clients across areas such as creative development, digital marketing, media planning and buying, public affairs, brand strategy, customer relationship management, and marketing technology.

The company traces its origins to Wire and Plastic Products, a British manufacturer acquired by Martin Sorrell in 1985.