Morningstar Investment Management LLC cut its stake in Omnicom Group Inc. (NYSE:OMC – Free Report) by 29.8% in the 4th quarter, Holdings Channel reports. The firm owned 128,596 shares of the business services provider’s stock after selling 54,536 shares during the period. Omnicom Group makes up about 0.6% of Morningstar Investment Management LLC’s portfolio, making the stock its 26th biggest position. Morningstar Investment Management LLC’s holdings in Omnicom Group were worth $10,384,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in OMC. Activest Wealth Management raised its holdings in Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after purchasing an additional 296 shares in the last quarter. Bayforest Capital Ltd bought a new position in Omnicom Group in the 4th quarter worth $26,000. Elyxium Wealth LLC bought a new position in Omnicom Group in the 4th quarter worth $26,000. Cornerstone Planning Group LLC raised its holdings in Omnicom Group by 2,126.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock worth $27,000 after purchasing an additional 319 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID raised its holdings in 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 worth $27,000 after purchasing an additional 176 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have commented on OMC shares. Barclays upped their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. UBS Group upped their price objective on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Citigroup decreased their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Morgan Stanley increased their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a research note on Friday. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $93.71.
Omnicom Group Stock Up 0.0%
Shares of Omnicom Group stock opened at $74.95 on Monday. 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 company has a 50-day moving average of $75.83 and a 200 day moving average of $76.49. The firm has a market cap of $21.36 billion, a price-to-earnings ratio of 192.19, a PEG ratio of 0.45 and a beta of 0.66. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17.
Omnicom Group (NYSE:OMC – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The company had revenue of $6.24 billion during the quarter, compared to analyst estimates of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. Omnicom Group’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same period last year, the business earned $1.70 EPS. As a group, sell-side analysts anticipate that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.
Omnicom Group announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 18th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the business services provider to purchase up to 38.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
Omnicom Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is presently 820.51%.
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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