Kendall Capital Management bought a new position in shares of Omnicom Group Inc. (NYSE:OMC – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 127,322 shares of the business services provider’s stock, valued at approximately $9,273,000. Omnicom Group makes up 1.5% of Kendall Capital Management’s portfolio, making the stock its 12th largest position.
Other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in shares of Omnicom Group by 82.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider’s stock valued at $138,000 after purchasing an additional 869 shares during the period. Gamco Investors INC. ET AL purchased a new stake in Omnicom Group during the 2nd quarter worth about $241,000. Gabelli Funds LLC bought a new position in Omnicom Group in the 2nd quarter worth about $1,061,000. Daiwa Securities Group Inc. boosted its stake in Omnicom Group by 5.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider’s stock worth $2,113,000 after purchasing an additional 1,482 shares during the period. Finally, Sei Investments Co. grew its holdings in Omnicom Group by 14.1% during the 2nd quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock valued at $25,990,000 after buying an additional 44,746 shares in the last quarter. 91.97% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on OMC shares. Zacks Research cut Omnicom Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Wells Fargo & Company boosted their price objective on shares of Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Citigroup decreased their target price on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Rothschild & Co Redburn assumed coverage on shares of Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price on the stock. Finally, The Goldman Sachs Group began coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $99.00.
Omnicom Group Price Performance
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. The stock has a market cap of $24.11 billion, a PE ratio of 75.75, a PEG ratio of 0.58 and a beta of 0.64. The company’s fifty day moving average is $80.34 and its 200 day moving average is $77.57. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $88.55.
Omnicom Group (NYSE:OMC – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The business had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the previous year, the company earned $2.05 earnings per share. The business’s quarterly revenue was up 63.4% on a year-over-year basis. Research analysts anticipate that Omnicom Group Inc. will post 10.35 earnings per share for the current year.
Omnicom Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be issued a $0.80 dividend. The ex-dividend date is Friday, September 18th. This represents a $3.20 annualized dividend and a dividend yield of 3.6%. Omnicom Group’s dividend payout ratio (DPR) is currently 275.86%.
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.
Further Reading
- Five stocks we like better than Omnicom Group
- 2 Biotech Stocks Shaping Up for Major Breakouts
- 3 Stocks Came Roaring Back—Now They’re Flashing Warning Signs
- 3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run
- Darden Restaurants Just Hit a 52-Week High–Is the Olive Garden Comeback Story Legit?
Receive News & Ratings for Omnicom Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Omnicom Group and related companies with MarketBeat.com's FREE daily email newsletter.
