Wheatland Advisors Inc. Takes $885,000 Position in WPP plc (WPP)

Wheatland Advisors Inc. acquired a new stake in WPP plc (NYSE:WPP) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,119 shares of the business services provider’s stock, valued at approximately $885,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WPP. Quadrant Capital Group LLC acquired a new position in WPP in the first quarter valued at $102,000. Neuburgh Advisers LLC acquired a new position in WPP in the first quarter valued at $173,000. Riverhead Capital Management LLC acquired a new position in WPP in the first quarter valued at $191,000. Jacobi Capital Management LLC acquired a new position in WPP in the first quarter valued at $196,000. Finally, Hall Laurie J Trustee acquired a new position in WPP in the first quarter valued at $197,000. Institutional investors own 5.30% of the company’s stock.

Several equities analysts have issued reports on WPP shares. Zacks Investment Research downgraded shares of WPP from a “buy” rating to a “hold” rating in a research note on Saturday, January 27th. HSBC downgraded shares of WPP from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Pivotal Research downgraded shares of WPP from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. ValuEngine downgraded shares of WPP from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Investec downgraded shares of WPP from a “hold” rating to a “sell” rating in a research note on Friday, March 2nd. Six research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $107.00.

Shares of WPP opened at $85.77 on Friday. WPP plc has a fifty-two week low of $76.68 and a fifty-two week high of $113.51. The stock has a market cap of $21.92 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 2.94 and a beta of 1.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.98 and a quick ratio of 0.95.

The firm also recently announced a Semi-Annual dividend, which will be paid on Monday, July 9th. Stockholders of record on Friday, June 15th will be paid a dividend of $2.566 per share. The ex-dividend date of this dividend is Thursday, June 14th. WPP’s dividend payout ratio (DPR) is 49.61%.

WPP Profile

WPP plc provides various communications services worldwide. The company operates through four segments: Advertising and Media Investment Management; Data Investment Management; Public Relations & Public Affairs; and Branding & Identity, Healthcare and Specialist Communications. The Advertising and Media Investment Management segment provides advertising services; and media planning and buying, and specialist sponsorship, and branded entertainment services.

Institutional Ownership by Quarter for WPP (NYSE:WPP)

Receive News & Ratings for WPP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WPP and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply