Grandfield & Dodd LLC purchased a new position in shares of Wpp Plc (NYSE:WPP) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 175,220 shares of the business services provider’s stock, valued at approximately $12,838,000. Grandfield & Dodd LLC owned 0.07% of WPP as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of WPP. Mondrian Investment Partners LTD acquired a new position in WPP during the 3rd quarter worth approximately $36,879,000. First Trust Advisors LP acquired a new position in WPP during the 3rd quarter worth approximately $23,467,000. Dimensional Fund Advisors LP acquired a new position in WPP during the 1st quarter worth approximately $16,006,000. Massachusetts Financial Services Co. MA acquired a new position in WPP during the 3rd quarter worth approximately $9,170,000. Finally, Aperio Group LLC acquired a new position in WPP during the 3rd quarter worth approximately $9,023,000. 5.11% of the stock is currently owned by institutional investors and hedge funds.
Shares of WPP opened at $58.20 on Tuesday. The company has a market cap of $14.87 billion, a price-to-earnings ratio of 7.50, a P/E/G ratio of 7.46 and a beta of 1.30. Wpp Plc has a 52 week low of $54.92 and a 52 week high of $103.53.
The business also recently disclosed a semiannual dividend, which was paid on Monday, November 5th. Shareholders of record on Friday, October 5th were issued a dividend of $1.4595 per share. This is a positive change from WPP’s previous semiannual dividend of $1.45. This represents a yield of 3.93%. The ex-dividend date of this dividend was Thursday, October 4th. WPP’s payout ratio is currently 38.66%.
A number of research analysts recently weighed in on WPP shares. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of WPP in a research note on Monday, July 23rd. ValuEngine raised WPP from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 23rd. Zacks Investment Research downgraded WPP from a “buy” rating to a “sell” rating in a research note on Friday, September 7th. Pivotal Research raised WPP from a “hold” rating to a “buy” rating in a research note on Thursday, October 25th. Finally, Kepler Capital Markets reaffirmed a “hold” rating on shares of WPP in a research note on Friday, October 26th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $107.00.
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WPP Company 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 Consulting, Health & Wellness 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.
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