WPP (NYSE:WPP) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of WPP (NYSE:WPP) in a research report released on Wednesday. The brokerage issued a neutral rating on the business services provider’s stock.

Other analysts have also recently issued reports about the company. Barclays cut WPP from an “overweight” rating to an “equal weight” rating in a report on Friday, February 28th. Kepler Capital Markets raised shares of WPP from a “hold” rating to a “buy” rating in a report on Friday, January 24th. Three research 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

WPP Price Performance

Shares of WPP stock opened at $39.30 on Wednesday. WPP has a 1-year low of $38.90 and a 1-year high of $57.37. The stock has a market cap of $8.48 billion, a P/E ratio of 6.58, a P/E/G ratio of 7.06 and a beta of 1.20. The stock’s 50 day simple moving average is $44.59 and its 200-day simple moving average is $49.18.

WPP Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, July 7th. Shareholders of record on Friday, June 6th will be given a $0.9728 dividend. The ex-dividend date is Friday, June 6th. This represents a yield of 6.2%. This is an increase from WPP’s previous semi-annual dividend of $0.95. WPP’s payout ratio is currently 8.04%.

Hedge Funds Weigh In On WPP

A number of hedge funds have recently modified their holdings of WPP. Vestmark Advisory Solutions Inc. increased its holdings in WPP by 1.2% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 17,402 shares of the business services provider’s stock valued at $894,000 after purchasing an additional 207 shares during the last quarter. M&T Bank Corp grew its stake in shares of WPP by 1.9% in the fourth quarter. M&T Bank Corp now owns 12,506 shares of the business services provider’s stock valued at $642,000 after buying an additional 228 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of WPP by 0.4% in the 4th quarter. Stifel Financial Corp now owns 56,210 shares of the business services provider’s stock valued at $2,889,000 after buying an additional 247 shares during the period. Jones Financial Companies Lllp boosted its holdings in WPP by 2.5% during the 4th quarter. Jones Financial Companies Lllp now owns 10,231 shares of the business services provider’s stock valued at $526,000 after acquiring an additional 249 shares during the period. Finally, Aaron Wealth Advisors LLC grew its position in WPP by 5.2% in the 4th quarter. Aaron Wealth Advisors LLC now owns 5,105 shares of the business services provider’s stock valued at $262,000 after acquiring an additional 251 shares in the last quarter. 4.34% of the stock is currently owned by hedge funds and other institutional investors.

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.