Commerce Bank acquired a new position in shares of Omnicom Group Inc. (NYSE:OMC – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 214,174 shares of the business services provider’s stock, valued at approximately $15,598,000.
Several other hedge funds also recently added to or reduced their stakes in OMC. Wakefield Asset Management LLLP grew its stake in shares of Omnicom Group by 2.6% during the fourth quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider’s stock valued at $477,000 after buying an additional 149 shares during the last quarter. Caldwell Trust Co increased its stake in shares of Omnicom Group by 29.0% during the first quarter. Caldwell Trust Co now owns 662 shares of the business services provider’s stock valued at $50,000 after buying an additional 149 shares during the period. SJS Investment Consulting Inc. raised its holdings in shares of Omnicom Group by 39.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 544 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 153 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC raised its stake in Omnicom Group by 3.5% in the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 4,897 shares of the business services provider’s stock worth $395,000 after buying an additional 167 shares in the last quarter. Finally, Binnacle Investments Inc raised its position in shares of Omnicom Group by 17.7% in the 2nd quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider’s stock worth $81,000 after acquiring an additional 169 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.
Omnicom Group Trading Up 0.9%
Shares of NYSE:OMC opened at $87.87 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $88.55. The business has a 50-day moving average price of $80.34 and a 200-day moving average price of $77.57. The stock has a market cap of $24.11 billion, a price-to-earnings ratio of 75.75, a PEG ratio of 0.58 and a beta of 0.64.
Omnicom Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio is currently 275.86%.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the company. Citigroup dropped their price objective on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Weiss Ratings raised shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. The Goldman Sachs Group started coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective on the stock. Morgan Stanley increased their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, Wells Fargo & Company lifted their price target on shares of Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $99.00.
Get Our Latest Stock Report on OMC
About Omnicom Group
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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