Deprince Race & Zollo Inc. Lowers Stock Holdings in Omnicom Group Inc. $OMC

Deprince Race & Zollo Inc. cut its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 32.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 354,761 shares of the business services provider’s stock after selling 169,276 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Omnicom Group were worth $26,717,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Omnicom Group by 64.2% during the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock valued at $3,143,930,000 after acquiring an additional 15,220,444 shares during the last quarter. State Street Corp boosted its position in shares of Omnicom Group by 40.4% in the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock worth $1,933,891,000 after acquiring an additional 6,813,441 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Omnicom Group by 69.6% in the fourth quarter. Bank of New York Mellon Corp now owns 11,283,863 shares of the business services provider’s stock worth $911,172,000 after acquiring an additional 4,631,394 shares during the last quarter. Wellington Management Group LLP grew its holdings in Omnicom Group by 522.9% in the fourth quarter. Wellington Management Group LLP now owns 5,199,477 shares of the business services provider’s stock valued at $419,858,000 after purchasing an additional 4,364,797 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Omnicom Group by 57.1% in the fourth quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock valued at $690,327,000 after purchasing an additional 3,117,188 shares during the period. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Trading Up 4.5%

Shares of OMC stock opened at $76.13 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $87.17. The firm’s 50 day moving average price is $74.85 and its two-hundred day moving average price is $76.75. The stock has a market cap of $21.70 billion, a price-to-earnings ratio of 195.20, a price-to-earnings-growth ratio of 0.44 and a beta of 0.63.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The company had revenue of $6.24 billion during the quarter, compared to analyst estimates of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The business’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.70 earnings per share. On average, analysts anticipate that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s payout ratio is currently 820.51%.

Analysts Set New Price Targets

A number of research firms have weighed in on OMC. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Omnicom Group in a research note on Friday, May 22nd. Citigroup decreased their price target on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Rothschild & Co Redburn began coverage on Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective for the company. Morgan Stanley increased their target price on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, UBS Group lifted their target price on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Company Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.