StockNews.com upgraded shares of WPP (NYSE:WPP – Free Report) from a hold rating to a buy rating in a research report released on Wednesday morning.
Separately, Citigroup raised shares of WPP to a strong-buy rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $46.00.
Read Our Latest Stock Analysis on WPP
WPP Price Performance
WPP Increases Dividend
The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be issued a dividend of $0.954 per share. The ex-dividend date of this dividend is Friday, October 11th. This is a positive change from WPP’s previous Semi-Annual dividend of $0.24. This represents a dividend yield of 5.7%.
Hedge Funds Weigh In On WPP
Several institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its stake in shares of WPP by 767.1% during the 2nd quarter. Blue Trust Inc. now owns 737 shares of the business services provider’s stock worth $35,000 after buying an additional 652 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in WPP during the first quarter worth approximately $39,000. Voisard Asset Management Group Inc. bought a new stake in shares of WPP during the fourth quarter worth approximately $45,000. EverSource Wealth Advisors LLC grew its position in shares of WPP by 62.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,320 shares of the business services provider’s stock valued at $66,000 after purchasing an additional 505 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of WPP during the second quarter worth approximately $80,000. 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.
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