Brandes Investment Partners LP Has $30.76 Million Position in WPP plc (NYSE:WPP)

Brandes Investment Partners LP reduced its holdings in WPP plc (NYSE:WPP) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 598,396 shares of the business services provider’s stock after selling 11,010 shares during the period. Brandes Investment Partners LP owned 0.28% of WPP worth $30,758,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vestmark Advisory Solutions Inc. increased its stake in shares of WPP by 1.2% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 17,402 shares of the business services provider’s stock worth $894,000 after purchasing an additional 207 shares during the last quarter. M&T Bank Corp increased its stake in shares of WPP by 1.9% during the 4th quarter. M&T Bank Corp now owns 12,506 shares of the business services provider’s stock worth $642,000 after purchasing an additional 228 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of WPP by 2.5% during the 4th quarter. Jones Financial Companies Lllp now owns 10,231 shares of the business services provider’s stock worth $526,000 after purchasing an additional 249 shares during the last quarter. Aaron Wealth Advisors LLC increased its stake in shares of WPP by 5.2% during the 4th quarter. Aaron Wealth Advisors LLC now owns 5,105 shares of the business services provider’s stock worth $262,000 after purchasing an additional 251 shares during the last quarter. Finally, HF Advisory Group LLC increased its stake in shares of WPP by 3.9% during the 4th quarter. HF Advisory Group LLC now owns 6,928 shares of the business services provider’s stock worth $356,000 after purchasing an additional 260 shares during the last quarter. 4.34% of the stock is currently owned by institutional investors and hedge funds.

WPP Stock Performance

Shares of WPP stock opened at $39.91 on Friday. The company has a market capitalization of $8.61 billion, a price-to-earnings ratio of 6.68, a PEG ratio of 7.06 and a beta of 1.20. The company has a 50-day simple moving average of $45.45 and a 200 day simple moving average of $49.60. WPP plc has a 52 week low of $38.90 and a 52 week high of $57.37.

WPP Increases Dividend

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

Analyst Ratings Changes

Several research firms have recently weighed in on WPP. Barclays lowered shares of WPP from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 28th. StockNews.com downgraded shares of WPP from a “buy” rating to a “hold” rating in a report on Monday, November 18th. Finally, Kepler Capital Markets raised shares of WPP from a “hold” rating to a “buy” rating in a report on Friday, January 24th.

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.