WPP (NYSE:WPP) Sets New 12-Month Low – What’s Next?

WPP plc (NYSE:WPP) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $34.62 and last traded at $36.29, with a volume of 768657 shares traded. The stock had previously closed at $37.96.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WPP shares. Kepler Capital Markets upgraded shares of WPP from a “hold” rating to a “buy” rating in a research note on Friday, January 24th. The Goldman Sachs Group began coverage on shares of WPP in a report on Wednesday, March 26th. They set a “neutral” rating on the stock. Finally, Barclays lowered shares of WPP from an “overweight” rating to an “equal weight” rating in a report on Friday, February 28th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

WPP Stock Performance

The firm has a market cap of $7.83 billion, a PE ratio of 6.08, a price-to-earnings-growth ratio of 7.06 and a beta of 1.20. The stock has a 50-day simple moving average of $44.01 and a two-hundred day simple moving average of $48.89.

WPP Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, July 7th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.9728 per share. This represents a dividend yield of 6.2%. This is a boost from WPP’s previous semi-annual dividend of $0.95. The ex-dividend date of this dividend is Friday, June 6th. WPP’s payout ratio is presently 8.04%.

Institutional Investors Weigh In On WPP

A number of large investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC purchased a new position in shares of WPP in the 4th quarter worth $962,000. Quantinno Capital Management LP lifted its holdings in WPP by 55.8% in the fourth quarter. Quantinno Capital Management LP now owns 54,443 shares of the business services provider’s stock valued at $2,798,000 after acquiring an additional 19,493 shares during the period. Mork Capital Management LLC purchased a new position in WPP in the fourth quarter worth about $987,000. Graham Capital Management L.P. bought a new stake in shares of WPP during the 4th quarter valued at about $872,000. Finally, Jane Street Group LLC purchased a new stake in shares of WPP during the 4th quarter valued at about $2,292,000. Institutional investors own 4.34% of the company’s stock.

About WPP

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.