Brokerages Set WPP plc (NYSE:WPP) PT at $46.00

Shares of WPP plc (NYSE:WPP) have been assigned a consensus rating of “Reduce” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $46.00.

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

WPP Stock Up 1.2 %

Shares of NYSE:WPP opened at $51.57 on Friday. The business’s 50-day moving average is $46.89 and its 200 day moving average is $46.40. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. WPP has a 1 year low of $41.13 and a 1 year high of $59.28.

WPP Cuts Dividend

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

Institutional Investors Weigh In On WPP

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vestmark Advisory Solutions Inc. lifted its position in shares of WPP by 1.4% in the third quarter. Vestmark Advisory Solutions Inc. now owns 17,344 shares of the business services provider’s stock valued at $773,000 after acquiring an additional 240 shares in the last quarter. NewEdge Wealth LLC grew its position in shares of WPP by 1.4% in the third quarter. NewEdge Wealth LLC now owns 17,344 shares of the business services provider’s stock valued at $773,000 after purchasing an additional 240 shares in the last quarter. Natixis Advisors L.P. increased its holdings in shares of WPP by 0.4% in the third quarter. Natixis Advisors L.P. now owns 66,272 shares of the business services provider’s stock valued at $2,955,000 after purchasing an additional 268 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its position in WPP by 3.0% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 9,259 shares of the business services provider’s stock worth $440,000 after buying an additional 273 shares in the last quarter. Finally, CWM LLC boosted its stake in WPP by 48.2% during the third quarter. CWM LLC now owns 864 shares of the business services provider’s stock worth $39,000 after buying an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 4.34% of the company’s stock.

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.