Sanders Capital LLC reduced its position in Omnicom Group Inc. (NYSE:OMC) by 0.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,573,442 shares of the business services provider’s stock after selling 6,800 shares during the period. Omnicom Group accounts for 1.3% of Sanders Capital LLC’s investment portfolio, making the stock its 23rd largest position. Sanders Capital LLC owned 1.11% of Omnicom Group worth $213,338,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its stake in shares of Omnicom Group by 5.8% in the first quarter. Stifel Financial Corp now owns 41,956 shares of the business services provider’s stock valued at $3,613,000 after buying an additional 2,291 shares during the last quarter. Morgan Stanley boosted its stake in shares of Omnicom Group by 268.1% in the first quarter. Morgan Stanley now owns 1,639,312 shares of the business services provider’s stock valued at $141,325,000 after buying an additional 1,194,001 shares during the last quarter. Beutel Goodman & Co Ltd. acquired a new stake in shares of Omnicom Group during the second quarter valued at approximately $153,358,000. Geode Capital Management LLC boosted its stake in shares of Omnicom Group by 7.7% in the first quarter. Geode Capital Management LLC now owns 2,460,551 shares of the business services provider’s stock valued at $211,836,000 after buying an additional 175,835 shares during the last quarter. Finally, Kentucky Retirement Systems acquired a new stake in shares of Omnicom Group during the fourth quarter valued at approximately $1,457,000. Institutional investors own 98.02% of the company’s stock.
Omnicom Group Inc. (OMC) traded down 1.15% during mid-day trading on Friday, hitting $76.76. 1,402,601 shares of the company were exchanged. The firm has a 50 day moving average price of $80.03 and a 200 day moving average price of $83.10. Omnicom Group Inc. has a 12 month low of $76.74 and a 12 month high of $89.66. The stock has a market cap of $17.71 billion, a price-to-earnings ratio of 15.50 and a beta of 1.25.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.38 by $0.02. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. Omnicom Group’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 EPS. Analysts anticipate that Omnicom Group Inc. will post $5.08 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s dividend payout ratio (DPR) is presently 44.44%.
Several equities analysts have recently weighed in on OMC shares. Zacks Investment Research raised shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Friday, July 14th. Royal Bank Of Canada set a $96.00 target price on shares of Omnicom Group and gave the company a “buy” rating in a report on Saturday, May 20th. Wells Fargo & Company reaffirmed a “hold” rating and set a $84.00 target price on shares of Omnicom Group in a report on Tuesday, July 18th. Jefferies Group LLC reaffirmed a “hold” rating and set a $82.00 target price on shares of Omnicom Group in a report on Friday, July 14th. Finally, Macquarie lowered shares of Omnicom Group from an “outperform” rating to a “neutral” rating and cut their target price for the company from $90.00 to $83.00 in a report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $86.00.
In related news, Director Linda Johnson Rice sold 483 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $82.19, for a total transaction of $39,697.77. Following the transaction, the director now directly owns 7,724 shares of the company’s stock, valued at approximately $634,835.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Treasurer Dennis E. Hewitt sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total value of $71,199.00. Following the transaction, the treasurer now directly owns 44,161 shares in the company, valued at $3,493,576.71. The disclosure for this sale can be found here. Insiders have sold a total of 24,183 shares of company stock worth $2,046,845 over the last three months. 1.10% of the stock is currently owned by corporate insiders.
Omnicom Group Company Profile
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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