Wpp Plc (NYSE:WPP) Receives Average Recommendation of “Hold” from Analysts

Wpp Plc (NYSE:WPP) has been assigned an average rating of “Hold” from the eight analysts that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company.

WPP has been the subject of a number of research reports. Citigroup reiterated a “neutral” rating on shares of WPP in a research report on Monday, August 10th. Berenberg Bank started coverage on shares of WPP in a research report on Tuesday, June 9th. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of WPP in a research note on Tuesday. Weiss Ratings reiterated a “sell (d)” rating on shares of WPP in a research report on Tuesday, June 16th. Finally, The Goldman Sachs Group began coverage on shares of WPP in a research note on Wednesday, June 3rd. They set a “sell” rating for the company.

WPP Price Performance

Shares of NYSE WPP opened at $24.98 on Tuesday. WPP has a 1-year low of $14.81 and a 1-year high of $27.78. The company has a 50-day moving average of $22.83 and a two-hundred day moving average of $19.30. The company has a quick ratio of 0.89, a current ratio of 0.87 and a debt-to-equity ratio of 1.39.

WPP Cuts Dividend

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

Hedge Funds Weigh In On WPP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new stake in shares of WPP in the 3rd quarter valued at approximately $28,000. Global Retirement Partners LLC grew its holdings in WPP by 1,279.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,821 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 1,689 shares during the period. Osaic Holdings Inc. grew its holdings in WPP by 105.8% during the second quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 717 shares during the period. Rockefeller Capital Management L.P. increased its stake in 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 in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in WPP by 99.4% in the second quarter. Russell Investments Group Ltd. now owns 2,353 shares of the business services provider’s stock valued at $82,000 after purchasing an additional 1,173 shares in the last quarter. Institutional investors own 4.34% of the company’s stock.

WPP Company Profile

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.