Capital International Investors Sells 4,047 Shares of WPP plc (NYSE:WPP)

Capital International Investors reduced its position in shares of WPP plc (NYSE:WPP) by 3.3% in the fourth quarter, HoldingsChannel reports. The firm owned 119,848 shares of the business services provider’s stock after selling 4,047 shares during the quarter. Capital International Investors’ holdings in WPP were worth $6,155,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. grew its position in WPP by 52,800.0% during the fourth quarter. Assetmark Inc. now owns 529 shares of the business services provider’s stock valued at $27,000 after buying an additional 528 shares during the period. Smartleaf Asset Management LLC grew its position in shares of WPP by 453.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,179 shares of the business services provider’s stock valued at $61,000 after acquiring an additional 966 shares during the period. GAMMA Investing LLC grew its position in shares of WPP by 92.4% during the 4th quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 599 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of WPP in the 3rd quarter worth $84,000. Finally, Russell Investments Group Ltd. raised its holdings in WPP by 57.0% in the 4th quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider’s stock worth $111,000 after purchasing an additional 787 shares during the period. Hedge funds and other institutional investors own 4.34% of the company’s stock.

WPP Stock Performance

Shares of WPP stock opened at $35.64 on Monday. The stock has a fifty day simple moving average of $40.28 and a two-hundred day simple moving average of $47.23. The firm has a market capitalization of $7.69 billion, a PE ratio of 5.97, a PEG ratio of 7.06 and a beta of 1.06. WPP plc has a 52-week low of $31.52 and a 52-week high of $57.37.

WPP Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, July 7th. Investors of record on Friday, June 6th will be given a dividend of $0.9728 per share. The ex-dividend date is Friday, June 6th. This represents a dividend yield of 6.2%. This is a boost from WPP’s previous semi-annual dividend of $0.95. WPP’s dividend payout ratio (DPR) is currently 8.04%.

Wall Street Analyst Weigh In

A number of analysts have commented on WPP shares. Kepler Capital Markets upgraded WPP from a “hold” rating to a “buy” rating in a research report on Friday, January 24th. The Goldman Sachs Group initiated coverage on shares of WPP in a report on Wednesday, March 26th. They issued a “neutral” rating for the company. Finally, Barclays downgraded shares of WPP from an “overweight” rating to an “equal weight” rating in a report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, WPP has a consensus rating of “Moderate Buy”.

About WPP

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.