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

Wpp Plc (NYSE:WPP) has received a consensus rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company.

WPP has been the topic of a number of recent research reports. Berenberg Bank initiated coverage on WPP in a research report on Tuesday, June 9th. They set a “buy” rating on the stock. Rothschild & Co Redburn assumed coverage on shares of WPP in a research report on Thursday, May 28th. They issued a “buy” rating for the company. Weiss Ratings reissued a “sell (d)” rating on shares of WPP in a research report on Tuesday, June 16th. Citigroup reissued a “neutral” rating on shares of WPP in a report on Monday, August 10th. Finally, The Goldman Sachs Group began coverage on WPP in a research report on Wednesday, June 3rd. They set a “sell” rating on the stock.

WPP Stock Performance

WPP stock opened at $26.30 on Friday. The firm’s fifty day moving average is $20.19 and its 200 day moving average is $18.51. 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 has a 52-week low of $14.81 and a 52-week high of $27.78.

WPP Cuts Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WPP. Caitong International Asset Management Co. Ltd purchased a new stake in WPP during the third quarter valued at approximately $28,000. Global Retirement Partners LLC boosted its stake in WPP by 1,279.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,821 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 1,689 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in WPP by 184.5% in the fourth quarter. Farther Finance Advisors LLC now owns 1,889 shares of the business services provider’s stock worth $42,000 after purchasing an additional 1,225 shares during the last quarter. Osaic Holdings Inc. increased its position in shares of WPP by 105.8% during the second quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock worth $49,000 after purchasing an additional 717 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in shares of WPP by 455.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,318 shares of the business services provider’s stock worth $52,000 after purchasing an additional 1,901 shares in the last quarter. Hedge funds and other institutional investors own 4.34% of the company’s stock.

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.