Omnicom Group Inc. $OMC Stock: Cooke & Bieler LP Decreases Holdings

Cooke & Bieler LP trimmed its holdings in Omnicom Group Inc. (NYSE:OMC) by 27.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,642,016 shares of the business services provider’s stock after selling 623,203 shares during the quarter. Omnicom Group accounts for approximately 1.8% of Cooke & Bieler LP’s investment portfolio, making the stock its 14th biggest holding. Cooke & Bieler LP owned 0.60% of Omnicom Group worth $120,902,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Keating Financial Advisory Services Inc. purchased a new position in shares of Omnicom Group during the 2nd quarter valued at about $25,000. Clearstead Trust LLC acquired a new position in shares of Omnicom Group in the 2nd quarter valued at about $36,000. Raiffeisen Bank International AG boosted its stake in shares of Omnicom Group by 119.7% in the second quarter. Raiffeisen Bank International AG now owns 503 shares of the business services provider’s stock worth $37,000 after buying an additional 274 shares during the last quarter. SJS Investment Consulting Inc. boosted its stake in shares of Omnicom Group by 39.1% in the first quarter. SJS Investment Consulting Inc. now owns 544 shares of the business services provider’s stock worth $41,000 after buying an additional 153 shares during the last quarter. Finally, Compass Financial Management LLC purchased a new stake in shares of Omnicom Group in the second quarter worth about $43,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the transaction, the director owned 11,719 shares in the company, valued at approximately $1,039,826.87. This trade represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

OMC has been the topic of several analyst reports. Argus raised Omnicom Group to a “hold” rating in a report on Monday, September 14th. Wells Fargo & Company boosted their price target on Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Barclays lowered their price objective on Omnicom Group from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Friday, October 9th. Finally, Zacks Research raised shares of Omnicom Group from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $98.75.

Omnicom Group Stock Performance

NYSE OMC opened at $80.46 on Thursday. The company has a market cap of $22.07 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 0.68 and a beta of 0.68. The stock’s 50 day simple moving average is $80.64 and its 200-day simple moving average is $78.44. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $89.57. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%. The firm had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the previous year, the firm posted $2.05 earnings per share. The firm’s revenue for the quarter was up 63.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Omnicom Group Inc. will post 10.50 EPS for the current fiscal year.

About Omnicom Group

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management, and digital marketing services. The company works with organizations across industries to develop brand strategies, create content, manage media campaigns, and engage customers through traditional and digital channels.

Omnicom operates through a network of independently branded agencies, including BBDO Worldwide, DDB Worldwide, TBWA Worldwide, Omnicom Media Group, FleishmanHillard, Ketchum, Porter Novelli, RAPP, and several specialized healthcare, experiential, and data-driven marketing agencies.