Olstein Capital Management L.P. Has $8.71 Million Position in Omnicom Group Inc. (NYSE:OMC)

Olstein Capital Management L.P. decreased its stake in Omnicom Group Inc. (NYSE:OMC) by 8.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,000 shares of the business services provider’s stock after selling 8,000 shares during the period. Omnicom Group accounts for about 1.4% of Olstein Capital Management L.P.’s holdings, making the stock its 23rd biggest holding. Olstein Capital Management L.P.’s holdings in Omnicom Group were worth $8,708,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. HHM Wealth Advisors LLC acquired a new stake in Omnicom Group during the 4th quarter worth about $26,000. Frazier Financial Advisors LLC acquired a new stake in Omnicom Group during the fourth quarter worth approximately $26,000. Pinnacle Bancorp Inc. lifted its stake in Omnicom Group by 61.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock valued at $28,000 after buying an additional 125 shares during the period. Richardson Financial Services Inc. acquired a new position in Omnicom Group in the fourth quarter valued at approximately $29,000. Finally, First United Bank & Trust acquired a new stake in shares of Omnicom Group during the 4th quarter worth approximately $35,000. 91.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $100.00 to $110.00 in a research report on Tuesday, May 7th. Macquarie increased their price objective on shares of Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. BNP Paribas raised Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 target price for the company in a research report on Thursday, March 28th. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $91.00 to $106.00 in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. raised their price objective on Omnicom Group from $104.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $104.40.

Omnicom Group Stock Up 0.2 %

Shares of OMC stock traded up $0.15 during trading hours on Wednesday, reaching $89.23. The company had a trading volume of 633,775 shares, compared to its average volume of 1,584,583. The company has a market cap of $17.47 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.93 and a quick ratio of 0.81. Omnicom Group Inc. has a 12 month low of $72.20 and a 12 month high of $99.23. The business has a fifty day simple moving average of $92.63 and a 200-day simple moving average of $90.91.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, April 16th. The business services provider reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.15. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. On average, research analysts expect that Omnicom Group Inc. will post 7.84 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 10th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Monday, June 10th. Omnicom Group’s payout ratio is 37.84%.

Insider Buying and Selling at Omnicom Group

In related news, Director Linda Johnson Rice sold 453 shares of Omnicom Group stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $92.68, for a total transaction of $41,984.04. Following the sale, the director now directly owns 9,830 shares in the company, valued at $911,044.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.