Wpp Plc (NYSE:WPP) Given Consensus Recommendation of “Hold” by Brokerages

Wpp Plc (NYSE:WPP) has been given a consensus rating of “Hold” by the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company.

Several equities analysts have recently issued reports on the company. Berenberg Bank began coverage on WPP in a research report on Tuesday, June 9th. They set a “buy” rating on the stock. Rothschild & Co Redburn began coverage on WPP in a report on Thursday, May 28th. They issued a “buy” rating for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of WPP in a research note on Tuesday, June 16th. Citigroup reaffirmed a “neutral” rating on shares of WPP in a report on Monday, August 10th. Finally, The Goldman Sachs Group began coverage on shares of WPP in a report on Wednesday, June 3rd. They issued a “sell” rating for the company.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new position in shares of WPP in the third quarter valued at $28,000. Osaic Holdings Inc. boosted its stake in shares of WPP by 105.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock worth $49,000 after acquiring an additional 717 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of WPP by 1,279.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,821 shares of the business services provider’s stock worth $41,000 after acquiring an additional 1,689 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of WPP by 455.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,318 shares of the business services provider’s stock worth $52,000 after acquiring an additional 1,901 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of WPP by 99.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,353 shares of the business services provider’s stock worth $82,000 after acquiring an additional 1,173 shares during the last quarter. Institutional investors and hedge funds own 4.34% of the company’s stock.

WPP Trading Up 0.0%

Shares of NYSE:WPP opened at $25.33 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 12 month low of $14.81 and a 12 month high of $27.78. The stock’s 50 day moving average price is $22.13 and its 200 day moving average price is $19.13.

WPP Cuts Dividend

The firm also recently announced 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 yield of 390.0%.

About WPP

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.