Eliot Finkel Investment Counsel LLC Sells 795 Shares of Omnicom Group Inc. $OMC

Eliot Finkel Investment Counsel LLC trimmed its position in shares of Omnicom Group Inc. (NYSE:OMC) by 1.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 61,190 shares of the business services provider’s stock after selling 795 shares during the quarter. Omnicom Group makes up about 2.8% of Eliot Finkel Investment Counsel LLC’s portfolio, making the stock its 16th biggest position. Eliot Finkel Investment Counsel LLC’s holdings in Omnicom Group were worth $4,402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new position in Omnicom Group in the 1st quarter worth about $34,000. Ameritas Advisory Services LLC bought a new position in Omnicom Group in the 2nd quarter worth about $34,000. Gen Wealth Partners Inc bought a new position in Omnicom Group in the 1st quarter worth about $36,000. Golden State Wealth Management LLC grew its stake in Omnicom Group by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider’s stock worth $41,000 after acquiring an additional 343 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in Omnicom Group in the 1st quarter worth about $43,000. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Price Performance

Shares of OMC opened at $77.59 on Friday. The company has a 50 day moving average price of $76.33 and a 200-day moving average price of $75.05. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $107.00. The stock has a market capitalization of $15.03 billion, a PE ratio of 11.13, a PEG ratio of 1.51 and a beta of 0.96. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.03. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter in the prior year, the company posted $1.95 earnings per share. Omnicom Group’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a yield of 3.6%. Omnicom Group’s dividend payout ratio is presently 40.17%.

Analysts Set New Price Targets

OMC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a research note on Thursday, July 10th. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research note on Saturday, September 27th. Barclays downgraded shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $78.00 to $91.00 in a research report on Tuesday, September 23rd. Finally, Bank of America raised shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a research report on Monday, June 23rd. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.29.

Omnicom Group 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.