Coho Partners Ltd. trimmed its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 2.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,947,801 shares of the business services provider’s stock after selling 53,775 shares during the period. Omnicom Group accounts for about 3.7% of Coho Partners Ltd.’s holdings, making the stock its 13th largest holding. Coho Partners Ltd. owned about 0.90% of Omnicom Group worth $159,622,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. lifted its stake in Omnicom Group by 0.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 30,462 shares of the business services provider’s stock valued at $2,496,000 after buying an additional 131 shares in the last quarter. 6 Meridian raised its holdings in Omnicom Group by 2.1% in the 2nd quarter. 6 Meridian now owns 6,530 shares of the business services provider’s stock valued at $535,000 after acquiring an additional 137 shares during the last quarter. Global Retirement Partners LLC raised its holdings in Omnicom Group by 5.2% in the 1st quarter. Global Retirement Partners LLC now owns 2,825 shares of the business services provider’s stock valued at $206,000 after acquiring an additional 139 shares during the last quarter. Securian Asset Management Inc raised its holdings in Omnicom Group by 0.6% in the 1st quarter. Securian Asset Management Inc now owns 22,741 shares of the business services provider’s stock valued at $1,660,000 after acquiring an additional 145 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in Omnicom Group by 1.1% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 18,410 shares of the business services provider’s stock valued at $1,344,000 after acquiring an additional 200 shares during the last quarter.
Shares of OMC stock traded up $0.65 during trading hours on Friday, hitting $81.46. 7,592 shares of the company were exchanged, compared to its average volume of 1,374,689. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.76 and a current ratio of 0.85. Omnicom Group Inc. has a one year low of $65.85 and a one year high of $85.05. The business’s 50-day simple moving average is $77.98 and its two-hundred day simple moving average is $78.46. The stock has a market capitalization of $17.85 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 2.68 and a beta of 0.72.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Wednesday, July 17th. The business services provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.61 by $0.07. Omnicom Group had a net margin of 8.89% and a return on equity of 43.86%. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the company posted $1.60 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, analysts anticipate that Omnicom Group Inc. will post 6.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, September 20th will be issued a $0.65 dividend. The ex-dividend date is Thursday, September 19th. This represents a $2.60 dividend on an annualized basis and a yield of 3.19%. Omnicom Group’s dividend payout ratio is currently 45.22%.
In other Omnicom Group news, SVP Andrew Castellaneta sold 2,000 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $80.16, for a total value of $160,320.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.10% of the company’s stock.
Several research analysts have weighed in on the company. Citigroup cut their price target on Omnicom Group from $87.00 to $86.00 and set a “neutral” rating for the company in a report on Monday. BMO Capital Markets downgraded Omnicom Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $88.00 to $86.00 in a report on Sunday, July 14th. ValuEngine downgraded Omnicom Group from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Barclays restated a “hold” rating and set a $85.00 price objective on shares of Omnicom Group in a report on Sunday, July 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $80.83.
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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