Bank of New York Mellon Corp Has $1.76 Million Stake in WPP PLC (NYSE:WPP)

Key Points

• Bank of New York Mellon Corp increased its stake in WPP Plc by 120.2% during the first quarter, acquiring an additional 25,359 shares and totaling 46,452 shares valued at approximately $1.76 million.
• Several institutional investors have significantly boosted their holdings in WPP, with OLD Mission Capital LLC increasing its position by an astonishing 1,612.8% during the fourth quarter.
• WPP's stock has received mixed ratings from analysts, with one report downgrading it to a "hold" and others maintaining "buy" and "underweight" ratings, resulting in an average rating of "Moderate Buy."

Bank of New York Mellon Corp raised its holdings in WPP PLC (NYSE:WPP - Free Report) by 120.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,452 shares of the business services provider's stock after buying an additional 25,359 shares during the quarter. Bank of New York Mellon Corp's holdings in WPP were worth $1,763,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WPP. Invesco Ltd. raised its position in WPP by 11.9% in the 4th quarter. Invesco Ltd. now owns 1,623,960 shares of the business services provider's stock valued at $83,472,000 after purchasing an additional 172,212 shares during the last quarter. Dimensional Fund Advisors LP raised its position in WPP by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 484,996 shares of the business services provider's stock valued at $24,928,000 after purchasing an additional 35,412 shares during the last quarter. Northern Trust Corp raised its position in WPP by 83.5% in the 4th quarter. Northern Trust Corp now owns 253,640 shares of the business services provider's stock valued at $13,037,000 after purchasing an additional 115,416 shares during the last quarter. Optiver Holding B.V. raised its position in WPP by 104.6% in the 4th quarter. Optiver Holding B.V. now owns 141,488 shares of the business services provider's stock valued at $7,272,000 after purchasing an additional 72,342 shares during the last quarter. Finally, Bank of Montreal Can raised its position in WPP by 20.4% in the 4th quarter. Bank of Montreal Can now owns 134,524 shares of the business services provider's stock valued at $6,915,000 after purchasing an additional 22,770 shares during the last quarter. Institutional investors and hedge funds own 4.34% of the company's stock.

WPP Trading Down 1.2%

NYSE WPP traded down $0.33 on Friday, reaching $26.75. The company had a trading volume of 415,628 shares, compared to its average volume of 632,024. The stock's 50 day moving average is $34.14 and its 200-day moving average is $38.83. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 4.48 and a beta of 1.01. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.00. WPP PLC has a 52 week low of $26.62 and a 52 week high of $57.37.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WPP shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of WPP in a research report on Thursday, July 10th. Barclays reiterated an "underweight" rating on shares of WPP in a report on Thursday, July 10th. Finally, Wall Street Zen downgraded WPP from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, WPP has a consensus rating of "Moderate Buy".

WPP Profile

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.