WPP PLC $WPP Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada reduced its shareholdings in WPP PLC by 3.6%, now owning approximately 0.17% of the company, valued at $13.9 million.
• WPP recently announced a semi-annual dividend of $0.5033 per share, with an impressive yield of 1,060.0%.
• Analysts have mixed opinions on WPP's stock, with ratings ranging from "Buy" to "Strong Sell," reflecting market uncertainty about the company's performance.

Royal Bank of Canada lessened its holdings in WPP PLC (NYSE:WPP - Free Report) by 3.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 366,663 shares of the business services provider's stock after selling 13,853 shares during the quarter. Royal Bank of Canada owned approximately 0.17% of WPP worth $13,919,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC boosted its holdings in WPP by 27.2% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 6,720,858 shares of the business services provider's stock worth $255,124,000 after purchasing an additional 1,436,668 shares during the period. Invesco Ltd. boosted its holdings in WPP by 50.8% in the first quarter. Invesco Ltd. now owns 2,448,296 shares of the business services provider's stock worth $92,937,000 after purchasing an additional 824,336 shares during the period. Northern Trust Corp boosted its holdings in WPP by 11.6% in the first quarter. Northern Trust Corp now owns 283,028 shares of the business services provider's stock worth $10,744,000 after purchasing an additional 29,388 shares during the period. Gilman Hill Asset Management LLC boosted its holdings in WPP by 15.2% in the first quarter. Gilman Hill Asset Management LLC now owns 93,542 shares of the business services provider's stock worth $3,551,000 after purchasing an additional 12,330 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in WPP by 55.8% in the fourth quarter. Quantinno Capital Management LP now owns 54,443 shares of the business services provider's stock worth $2,798,000 after purchasing an additional 19,493 shares during the period. Institutional investors and hedge funds own 4.34% of the company's stock.

WPP Price Performance

Shares of NYSE WPP opened at $26.87 on Thursday. WPP PLC has a fifty-two week low of $24.28 and a fifty-two week high of $57.37. The firm's 50-day simple moving average is $27.72 and its 200 day simple moving average is $34.67. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.13. The stock has a market cap of $5.80 billion, a P/E ratio of 4.50 and a beta of 0.97.

WPP Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.5033 per share. This represents a dividend yield of 1,060.0%. The ex-dividend date is Friday, October 10th. WPP's payout ratio is currently 8.21%.

Analysts Set New Price Targets

WPP has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of WPP in a report on Thursday, July 10th. Kepler Capital Markets downgraded shares of WPP from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Wall Street Zen downgraded shares of WPP from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Barclays reissued an "underweight" rating on shares of WPP in a report on Friday, August 8th. Finally, Zacks Research downgraded shares of WPP from a "hold" rating to a "strong sell" rating in a report on Thursday, August 21st. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce".

WPP Company 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.

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