Naples Global Advisors LLC trimmed its holdings in Omnicom Group Inc. (NYSE:OMC) by 18.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 11,210 shares of the business services provider’s stock after selling 2,588 shares during the period. Naples Global Advisors LLC’s holdings in Omnicom Group were worth $818,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. NuWave Investment Management LLC grew its position in Omnicom Group by 1,876.5% during the fourth quarter. NuWave Investment Management LLC now owns 336 shares of the business services provider’s stock worth $25,000 after buying an additional 319 shares during the period. Sontag Advisory LLC acquired a new position in Omnicom Group during the fourth quarter worth about $28,000. Eukles Asset Management acquired a new stake in shares of Omnicom Group in the fourth quarter valued at approximately $29,000. Capital Financial Planning LLC acquired a new stake in shares of Omnicom Group in the fourth quarter valued at approximately $30,000. Finally, JOYN Advisors Inc. grew its position in shares of Omnicom Group by 47.2% in the fourth quarter. JOYN Advisors Inc. now owns 443 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 142 shares during the last quarter.
Several research firms have recently commented on OMC. Barclays upgraded shares of Omnicom Group from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $76.00 to $84.00 in a research report on Wednesday, April 17th. Citigroup increased their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company a “neutral” rating in a research report on Thursday, February 14th. BMO Capital Markets lowered their price target on shares of Omnicom Group from $84.00 to $83.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 13th. Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Friday, January 25th. Finally, Macquarie set a $76.00 target price on shares of Omnicom Group and gave the stock a “hold” rating in a research report on Thursday, February 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Omnicom Group has a consensus rating of “Hold” and an average price target of $76.90.
NYSE:OMC traded down $0.30 during trading hours on Wednesday, reaching $79.78. 1,001,800 shares of the company were exchanged, compared to its average volume of 1,941,598. Omnicom Group Inc. has a 52-week low of $65.85 and a 52-week high of $84.35. The company has a quick ratio of 0.79, a current ratio of 0.88 and a debt-to-equity ratio of 1.89. The company has a market cap of $17.51 billion, a P/E ratio of 13.87, a P/E/G ratio of 2.84 and a beta of 0.71.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, April 16th. The business services provider reported $1.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.09. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.51 billion. Omnicom Group had a net margin of 8.76% and a return on equity of 44.01%. The business’s revenue was down 4.4% on a year-over-year basis. During the same period last year, the business earned $1.14 EPS. Research analysts forecast that Omnicom Group Inc. will post 5.93 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Thursday, June 13th. Omnicom Group’s payout ratio is 45.22%.
In related news, Director Linda Johnson Rice sold 497 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $83.59, for a total transaction of $41,544.23. Following the completion of the sale, the director now directly owns 8,161 shares of the company’s stock, valued at approximately $682,177.99. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Andrew Castellaneta sold 4,400 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $80.24, for a total transaction of $353,056.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,910 shares of company stock valued at $5,834,558. Company insiders own 1.10% of the company’s stock.
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Omnicom Group Company Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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