Richards Merrill & Peterson Inc. Trims Stock Holdings in Omnicom Group Inc. $OMC

Richards Merrill & Peterson Inc. lowered its position in shares of Omnicom Group Inc. (NYSE:OMC) by 6.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,412 shares of the business services provider’s stock after selling 399 shares during the quarter. Richards Merrill & Peterson Inc.’s holdings in Omnicom Group were worth $389,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Omnicom Group by 1.8% in the first quarter. Vanguard Group Inc. now owns 23,466,754 shares of the business services provider’s stock worth $1,945,629,000 after acquiring an additional 424,936 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Omnicom Group by 20.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,178,226 shares of the business services provider’s stock valued at $595,147,000 after acquiring an additional 1,205,165 shares in the last quarter. Boston Partners increased its holdings in Omnicom Group by 18.5% in the 1st quarter. Boston Partners now owns 4,882,041 shares of the business services provider’s stock valued at $402,598,000 after acquiring an additional 762,871 shares during the last quarter. Baird Financial Group Inc. lifted its stake in Omnicom Group by 44.5% in the 1st quarter. Baird Financial Group Inc. now owns 3,896,270 shares of the business services provider’s stock worth $323,040,000 after purchasing an additional 1,199,725 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Omnicom Group by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,259,431 shares of the business services provider’s stock valued at $270,235,000 after purchasing an additional 49,801 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

OMC has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their price objective on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a research note on Thursday, July 10th. Barclays raised their target price on shares of Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $78.00 to $91.00 in a research report on Tuesday, September 23rd. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.57.

Omnicom Group Price Performance

Shares of OMC stock opened at $78.97 on Friday. The company’s 50-day simple moving average is $77.85 and its two-hundred day simple moving average is $75.11. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $107.00. The company has a market capitalization of $15.24 billion, a P/E ratio of 11.66, a P/E/G ratio of 1.54 and a beta of 0.96.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the company posted $2.03 EPS. Omnicom Group’s revenue was up 4.0% on a year-over-year basis. As a group, equities analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.