Fort L.P. raised its position in shares of Omnicom Group Inc. (NYSE:OMC) by 4.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,689 shares of the business services provider’s stock after buying an additional 1,637 shares during the quarter. Fort L.P.’s holdings in Omnicom Group were worth $1,959,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. lifted its stake in Omnicom Group by 2.0% during the first quarter. BlackRock Inc. now owns 17,576,180 shares of the business services provider’s stock valued at $964,935,000 after buying an additional 348,786 shares in the last quarter. State Street Corp increased its holdings in shares of Omnicom Group by 6.5% in the 1st quarter. State Street Corp now owns 12,223,835 shares of the business services provider’s stock valued at $678,488,000 after purchasing an additional 745,690 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Omnicom Group by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 9,749,771 shares of the business services provider’s stock valued at $535,260,000 after purchasing an additional 284,524 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Omnicom Group by 13.5% in the 4th quarter. Janus Henderson Group PLC now owns 4,912,444 shares of the business services provider’s stock valued at $398,006,000 after purchasing an additional 585,969 shares during the period. Finally, Charles Schwab Investment Advisory Inc. increased its holdings in shares of Omnicom Group by 3.9% in the 4th quarter. Charles Schwab Investment Advisory Inc. now owns 3,456,427 shares of the business services provider’s stock valued at $280,040,000 after purchasing an additional 130,279 shares during the period. 99.42% of the stock is owned by institutional investors.
OMC stock traded down $3.86 during midday trading on Thursday, hitting $54.26. 142,878 shares of the company traded hands, compared to its average volume of 2,648,891. Omnicom Group Inc. has a twelve month low of $46.37 and a twelve month high of $85.05. The company has a quick ratio of 0.82, a current ratio of 0.92 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $11.83 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 2.00 and a beta of 0.74. The business has a 50 day simple moving average of $54.48 and a 200-day simple moving average of $67.34.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. Omnicom Group had a return on equity of 43.58% and a net margin of 8.96%. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the prior year, the business earned $1.17 earnings per share. Omnicom Group’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities research analysts forecast that Omnicom Group Inc. will post 4.33 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 12th will be given a $0.65 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $2.60 annualized dividend and a dividend yield of 4.79%. Omnicom Group’s dividend payout ratio is 42.90%.
A number of research firms recently commented on OMC. Citigroup upgraded Omnicom Group from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $86.00 to $60.00 in a report on Tuesday, March 24th. ValuEngine downgraded Omnicom Group from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Morgan Stanley dropped their price objective on Omnicom Group from $78.00 to $57.00 and set an “underweight” rating on the stock in a report on Tuesday, April 28th. JPMorgan Chase & Co. lowered their price target on Omnicom Group from $90.00 to $73.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Finally, Cfra lowered their price target on Omnicom Group from $80.00 to $60.00 and set a “hold” rating on the stock in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $72.88.
Omnicom Group Company Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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