WPP plc (NYSE:WPP) Given Consensus Rating of “Reduce” by Brokerages

WPP plc (NYSE:WPP) has been assigned a consensus recommendation of “Reduce” from the five research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $46.00.

WPP has been the subject of a number of recent research reports. UBS Group lowered shares of WPP from a “buy” rating to a “sell” rating in a research report on Thursday, January 11th. StockNews.com raised shares of WPP from a “hold” rating to a “buy” rating in a research note on Friday, March 1st.

Institutional Investors Weigh In On WPP

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised its holdings in shares of WPP by 48.2% during the 3rd quarter. CWM LLC now owns 864 shares of the business services provider’s stock worth $39,000 after acquiring an additional 281 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of WPP during the 1st quarter worth $39,000. UMB Bank n.a. raised its holdings in shares of WPP by 54.0% during the 3rd quarter. UMB Bank n.a. now owns 973 shares of the business services provider’s stock worth $43,000 after acquiring an additional 341 shares during the period. Voisard Asset Management Group Inc. purchased a new position in shares of WPP during the 4th quarter worth $45,000. Finally, CVA Family Office LLC purchased a new position in shares of WPP during the 4th quarter worth $49,000. Institutional investors and hedge funds own 4.34% of the company’s stock.

WPP Stock Up 1.7 %

WPP opened at $50.94 on Friday. WPP has a 12-month low of $41.13 and a 12-month high of $59.28. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50 day moving average of $46.84 and a two-hundred day moving average of $46.35.

WPP Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.244 per share. The ex-dividend date is Friday, June 7th. This represents a yield of 5.3%.

WPP Company Profile

WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.