WPP (NYSE:WPP) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of WPP (NYSE:WPP - Free Report) in a research report released on Wednesday, Marketbeat Ratings reports. The brokerage issued a neutral rating on the business services provider's stock.

Several other brokerages have also recently weighed in on WPP. Barclays cut WPP from an "overweight" rating to an "equal weight" rating in a report on Friday, February 28th. Kepler Capital Markets raised WPP from a "hold" rating to a "buy" rating in a research report on Friday, January 24th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

WPP Price Performance

WPP stock traded down $0.45 during trading hours on Wednesday, reaching $38.41. 315,103 shares of the stock were exchanged, compared to its average volume of 190,454. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 6.43, a PEG ratio of 7.06 and a beta of 1.20. The firm's 50-day moving average is $44.34 and its 200-day moving average is $49.05. WPP has a 12 month low of $38.25 and a 12 month high of $57.37.

WPP Increases Dividend

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

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Hedge Funds Weigh In On WPP

Several institutional investors and hedge funds have recently modified their holdings of WPP. Sanctuary Advisors LLC boosted its holdings in shares of WPP by 45.7% during the third quarter. Sanctuary Advisors LLC now owns 6,397 shares of the business services provider's stock worth $335,000 after acquiring an additional 2,007 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of WPP in the fourth quarter valued at approximately $8,724,000. QRG Capital Management Inc. bought a new stake in shares of WPP during the 4th quarter valued at $202,000. HighTower Advisors LLC raised its stake in WPP by 41.4% in the fourth quarter. HighTower Advisors LLC now owns 27,798 shares of the business services provider's stock valued at $1,429,000 after purchasing an additional 8,140 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in WPP by 92.4% during the fourth quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider's stock worth $64,000 after buying an additional 599 shares in the last quarter. 4.34% of the stock is currently owned by institutional investors and hedge funds.

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.