State of Tennessee Treasury Department lessened its position in Omnicom Group Inc. (NYSE:OMC) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,952 shares of the business services provider’s stock after selling 2,110 shares during the period. State of Tennessee Treasury Department’s holdings in Omnicom Group were worth $5,762,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. TIAA CREF Investment Management LLC increased its holdings in shares of Omnicom Group by 4.4% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 478,590 shares of the business services provider’s stock valued at $32,554,000 after purchasing an additional 20,030 shares in the last quarter. Vanguard Group Inc increased its holdings in shares of Omnicom Group by 24.9% in the 3rd quarter. Vanguard Group Inc now owns 21,216,134 shares of the business services provider’s stock valued at $1,443,122,000 after purchasing an additional 4,228,195 shares in the last quarter. First Mercantile Trust Co. increased its holdings in shares of Omnicom Group by 50.0% in the 4th quarter. First Mercantile Trust Co. now owns 1,260 shares of the business services provider’s stock valued at $92,000 after purchasing an additional 420 shares in the last quarter. Transamerica Financial Advisors Inc. increased its holdings in shares of Omnicom Group by 345.1% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 543 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 421 shares in the last quarter. Finally, Capital Investment Advisory Services LLC purchased a new position in Omnicom Group during the 4th quarter valued at about $33,000.
Several equities analysts have weighed in on OMC shares. Macquarie set a $76.00 target price on shares of Omnicom Group and gave the company a “hold” rating in a report on Thursday, February 14th. BMO Capital Markets dropped their target price on shares of Omnicom Group from $84.00 to $83.00 and set an “outperform” rating for the company in a report on Wednesday, February 13th. Citigroup raised their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the company a “neutral” rating in a report on Thursday, February 14th. Finally, Barclays upgraded shares of Omnicom Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $76.00 to $84.00 in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $77.33.
NYSE:OMC traded up $0.71 during mid-day trading on Wednesday, hitting $79.92. 37,949 shares of the company’s stock traded hands, compared to its average volume of 1,924,466. The company has a current ratio of 0.88, a quick ratio of 0.79 and a debt-to-equity ratio of 1.89. Omnicom Group Inc. has a 1 year low of $65.85 and a 1 year high of $84.35. The company has a market capitalization of $17.46 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 2.83 and a beta of 0.69.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, April 16th. The business services provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.09. The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.51 billion. Omnicom Group had a net margin of 8.76% and a return on equity of 44.01%. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 earnings per share. On average, equities research analysts predict that Omnicom Group Inc. will post 5.93 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.25%. Omnicom Group’s dividend payout ratio (DPR) is presently 45.22%.
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About Omnicom Group
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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