WPP (NYSE:WPP) Sets New 1-Year Low - Here's What Happened

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

Wall Street Analysts Forecast Growth

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

WPP Stock Down 2.1 %

The firm has a market cap of $7.93 billion, a price-to-earnings ratio of 6.15, a PEG ratio of 7.06 and a beta of 1.20. The firm has a 50 day moving average of $43.86 and a 200 day moving average of $48.81.

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 given a dividend of $0.9728 per share. This represents a dividend yield of 6.2%. The ex-dividend date of this dividend is Friday, June 6th. This is an increase from WPP's previous semi-annual dividend of $0.95. WPP's payout ratio is presently 8.04%.

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Institutional Investors Weigh In On WPP

A number of large investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC grew its stake in shares of WPP by 45.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 6,397 shares of the business services provider's stock valued at $335,000 after buying an additional 2,007 shares during the period. Raymond James Financial Inc. bought a new position in WPP in the fourth quarter worth approximately $8,724,000. QRG Capital Management Inc. acquired a new stake in WPP in the fourth quarter valued at approximately $202,000. HighTower Advisors LLC increased its holdings in shares of WPP by 41.4% during the fourth quarter. HighTower Advisors LLC now owns 27,798 shares of the business services provider's stock valued at $1,429,000 after acquiring an additional 8,140 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 599 shares during the period. 4.34% of the stock is currently owned by institutional investors and hedge funds.

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.