The Goldman Sachs Group Reaffirms “Buy” Rating for WPP (NYSE:WPP)

The Goldman Sachs Group reaffirmed their buy rating on shares of WPP (NYSE:WPP) in a report issued on Monday, The Fly reports.

Other research analysts have also issued research reports about the company. Exane BNP Paribas upgraded WPP from an underperform rating to a neutral rating in a research report on Monday, January 11th. JPMorgan Chase & Co. reiterated an overweight rating on shares of WPP in a research report on Friday, December 18th. Oddo Bhf upgraded WPP from a neutral rating to an outperform rating in a research report on Tuesday, February 9th. Societe Generale reiterated a buy rating on shares of WPP in a research report on Friday, December 18th. Finally, BNP Paribas upgraded WPP from an underperform rating to a neutral rating in a report on Monday, January 11th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Hold.

Shares of WPP stock opened at $65.32 on Monday. WPP has a 1 year low of $31.71 and a 1 year high of $66.49. The stock has a fifty day moving average of $62.63 and a two-hundred day moving average of $52.45. The firm has a market capitalization of $16.93 billion, a PE ratio of 13.09 and a beta of 1.40.

The business also recently announced a semi-annual dividend, which will be paid on Friday, July 9th. Stockholders of record on Friday, June 11th will be given a dividend of $0.9777 per share. The ex-dividend date is Thursday, June 10th. This is a positive change from WPP’s previous semi-annual dividend of $0.66. This represents a dividend yield of 1%. WPP’s payout ratio is 26.05%.

Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of WPP by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 7,945 shares of the business services provider’s stock worth $430,000 after purchasing an additional 184 shares during the period. WealthStone Inc. raised its position in shares of WPP by 2.2% during the fourth quarter. WealthStone Inc. now owns 10,897 shares of the business services provider’s stock worth $589,000 after purchasing an additional 230 shares during the period. Verition Fund Management LLC raised its position in shares of WPP by 1.9% during the fourth quarter. Verition Fund Management LLC now owns 17,931 shares of the business services provider’s stock worth $970,000 after purchasing an additional 342 shares during the period. CIBC World Markets Inc. raised its position in shares of WPP by 0.3% during the fourth quarter. CIBC World Markets Inc. now owns 113,006 shares of the business services provider’s stock worth $6,111,000 after purchasing an additional 388 shares during the period. Finally, Graves Light Private Wealth Management Inc. acquired a new stake in shares of WPP during the fourth quarter worth $35,000. 3.83% of the stock is currently owned by 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, Asia Pacific, Latin America, Africa, 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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Analyst Recommendations for WPP (NYSE:WPP)

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