Meyer Handelman Co. grew its holdings in Omnicom Group Inc. (NYSE:OMC – Free Report) by 29.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 240,466 shares of the business services provider’s stock after acquiring an additional 54,309 shares during the quarter. Meyer Handelman Co. owned about 0.08% of Omnicom Group worth $18,109,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the business. Activest Wealth Management increased its stake in Omnicom Group by 2,960.0% in the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 296 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in shares of Omnicom Group during the 4th quarter worth approximately $26,000. Elyxium Wealth LLC acquired a new position in shares of Omnicom Group in the 4th quarter valued at $26,000. Legacy Wealth Managment LLC ID boosted its holdings in shares of Omnicom Group by 111.4% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares in the last quarter. Finally, EFG International AG purchased a new position in shares of Omnicom Group in the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.
Omnicom Group Stock Down 0.2%
Shares of NYSE:OMC opened at $73.54 on Friday. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77. The stock has a market cap of $20.96 billion, a P/E ratio of 188.56, a P/E/G ratio of 0.44 and a beta of 0.63. The firm has a fifty day moving average price of $75.20 and a 200 day moving average price of $76.80.
Omnicom Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is presently 820.51%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on OMC. Argus raised shares of Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. UBS Group raised their price objective on Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, March 20th. The Goldman Sachs Group started coverage on Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price on the stock. Rothschild & Co Redburn assumed coverage on Omnicom Group in a report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price for the company. Finally, Citigroup decreased their target price on Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $99.00.
Read Our Latest Analysis on Omnicom Group
Omnicom Group Profile
Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.
The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.
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