Brandes Investment Partners LP Reduces Holdings in WPP plc (NYSE:WPP)

Brandes Investment Partners LP reduced its holdings in WPP plc (NYSE:WPP - Free Report) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 598,396 shares of the business services provider's stock after selling 11,010 shares during the quarter. Brandes Investment Partners LP owned 0.28% of WPP worth $30,758,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC increased its stake in WPP by 47.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,356,064 shares of the business services provider's stock worth $274,016,000 after acquiring an additional 1,734,750 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in WPP in the 3rd quarter worth about $35,757,000. Raymond James Financial Inc. bought a new position in WPP in the 4th quarter worth about $8,724,000. Gilman Hill Asset Management LLC increased its stake in WPP by 2.4% in the 4th quarter. Gilman Hill Asset Management LLC now owns 81,212 shares of the business services provider's stock worth $4,174,000 after acquiring an additional 1,865 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in WPP by 67.6% in the 3rd quarter. Stifel Financial Corp now owns 55,963 shares of the business services provider's stock worth $2,863,000 after acquiring an additional 22,578 shares during the last quarter. 4.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Barclays cut WPP from an "overweight" rating to an "equal weight" rating in a report on Friday, February 28th. Kepler Capital Markets upgraded WPP from a "hold" rating to a "buy" rating in a report on Friday, January 24th.

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WPP Trading Down 0.4 %

Shares of WPP traded down $0.14 during midday trading on Wednesday, reaching $40.28. The stock had a trading volume of 569,959 shares, compared to its average volume of 187,302. The company's 50-day moving average is $45.15 and its 200 day moving average is $49.52. WPP plc has a 12-month low of $38.90 and a 12-month high of $57.37. The company has a market capitalization of $8.69 billion, a price-to-earnings ratio of 6.75, a price-to-earnings-growth ratio of 7.06 and a beta of 1.20.

WPP Increases Dividend

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

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.