WPP (NYSE:WPP) Shares Gap Down to $57.47

WPP plc (NYSE:WPP – Get Rating)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $57.47, but opened at $55.61. WPP shares last traded at $55.47, with a volume of 13,409 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have commented on WPP. The Goldman Sachs Group raised shares of WPP from a “neutral” rating to a “buy” rating in a report on Wednesday, January 18th. Barclays upgraded shares of WPP from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 31st. Morgan Stanley decreased their price objective on shares of WPP from GBX 770 ($9.38) to GBX 760 ($9.26) in a research report on Tuesday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of WPP from GBX 1,210 ($14.75) to GBX 1,260 ($15.36) in a research report on Monday, December 12th. Finally, Credit Suisse Group upgraded shares of WPP from a “neutral” rating to an “outperform” rating in a research report on Wednesday, February 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,001.29.

WPP Trading Down 2.6 %

The firm’s 50-day moving average is $59.28 and its two-hundred day moving average is $51.18. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of 8.36, a P/E/G ratio of 1.35 and a beta of 1.39.

WPP Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, July 7th. Shareholders of record on Friday, June 9th will be issued a $1.4657 dividend. This is an increase from WPP’s previous semi-annual dividend of $0.91. The ex-dividend date of this dividend is Thursday, June 8th. This represents a yield of 3.7%. WPP’s dividend payout ratio is presently 43.73%.

Institutional Trading of WPP

A number of hedge funds have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC raised its holdings in WPP by 4.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,930 shares of the business services provider’s stock valued at $249,000 after acquiring an additional 210 shares during the last quarter. IFP Advisors Inc grew its stake in shares of WPP by 32.8% in the 3rd quarter. IFP Advisors Inc now owns 899 shares of the business services provider’s stock valued at $74,000 after buying an additional 222 shares during the period. Global Retirement Partners LLC grew its stake in shares of WPP by 26.2% in the 3rd quarter. Global Retirement Partners LLC now owns 1,203 shares of the business services provider’s stock valued at $53,000 after buying an additional 250 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of WPP by 34.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 977 shares of the business services provider’s stock valued at $63,000 after buying an additional 251 shares during the period. Finally, Archford Capital Strategies LLC grew its stake in shares of WPP by 5.0% in the 3rd quarter. Archford Capital Strategies LLC now owns 5,389 shares of the business services provider’s stock valued at $222,000 after buying an additional 259 shares during the period. Institutional investors and hedge funds own 3.79% of the company’s stock.

WPP Company Profile

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WPP Plc is a creative transformation company, which engages in the provision of communications services. It operates through the following segments: Global Integrated Agencies, Public Relations, and Specialist Agencies. The Global Integrated Agencies segment offers creative services including advertising, marketing, and brand strategies and campaigns across all media.