WPP (NYSE:WPP) Shares Down 1.6% – Here’s What Happened

WPP plc (NYSE:WPP)’s share price fell 1.6% during mid-day trading on Friday . The stock traded as low as $40.02 and last traded at $39.91. 48,617 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 247,590 shares. The stock had previously closed at $40.56.

Analyst Upgrades and Downgrades

WPP has been the topic of a number of research analyst reports. Kepler Capital Markets upgraded WPP from a “hold” rating to a “buy” rating in a report on Friday, January 24th. Barclays lowered shares of WPP from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 28th. Finally, StockNews.com downgraded shares of WPP from a “buy” rating to a “hold” rating in a research note on Monday, November 18th.

WPP Stock Performance

The business’s 50-day moving average is $45.66 and its 200-day moving average is $49.65. The company has a market capitalization of $8.59 billion, a PE ratio of 6.67, a PEG ratio of 7.06 and a beta of 1.20.

WPP Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, July 7th. Investors of record on Friday, June 6th will be paid a $0.9728 dividend. The ex-dividend date is Friday, June 6th. This represents a dividend yield of 6.2%. This is an increase from WPP’s previous semi-annual dividend of $0.95. WPP’s dividend payout ratio is presently 8.04%.

Hedge Funds Weigh In On WPP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. increased its stake in shares of WPP by 52,800.0% in the fourth quarter. Assetmark Inc. now owns 529 shares of the business services provider’s stock worth $27,000 after purchasing an additional 528 shares in the last quarter. Smartleaf Asset Management LLC grew its position in WPP by 453.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,179 shares of the business services provider’s stock worth $61,000 after acquiring an additional 966 shares in the last quarter. GAMMA Investing LLC boosted its position in WPP by 92.4% in the 4th quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider’s stock valued at $64,000 after buying an additional 599 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in WPP during the 3rd quarter worth $84,000. Finally, Russell Investments Group Ltd. grew its position in shares of WPP by 57.0% during the 4th quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider’s stock worth $111,000 after buying an additional 787 shares in the last quarter. 4.34% of the stock is 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, 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.