Callan Family Office LLC Invests $683,000 in Omnicom Group Inc. $OMC

Callan Family Office LLC acquired a new stake in Omnicom Group Inc. (NYSE:OMC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,377 shares of the business services provider’s stock, valued at approximately $683,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. purchased a new position in Omnicom Group in the second quarter valued at approximately $2,082,476,000. Vanguard Group Inc. lifted its position 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 worth $3,143,930,000 after buying an additional 15,220,444 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Omnicom Group in the 2nd quarter valued at $914,156,000. State Street Corp boosted its holdings in shares of Omnicom Group by 40.4% in the 4th quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock valued at $1,933,891,000 after buying an additional 6,813,441 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Omnicom Group by 522.9% in the 4th quarter. Wellington Management Group LLP now owns 5,199,477 shares of the business services provider’s stock valued at $419,858,000 after buying an additional 4,364,797 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Down 0.8%

OMC stock opened at $88.23 on Wednesday. The company has a fifty day moving average price of $80.81 and a 200 day moving average price of $77.86. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.57. The company has a market cap of $24.21 billion, a price-to-earnings ratio of 76.06, a price-to-earnings-growth ratio of 0.59 and a beta of 0.64. 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 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). The business had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The firm’s revenue for the quarter was up 63.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 EPS. Sell-side analysts expect that Omnicom Group Inc. will post 10.35 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be paid a dividend of $0.80 per share. The ex-dividend date is Friday, September 18th. This represents a $3.20 annualized dividend and a dividend yield of 3.6%. Omnicom Group’s dividend payout ratio is 275.86%.

Analyst Upgrades and Downgrades

OMC has been the topic of several research analyst reports. The Goldman Sachs Group started coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target on the stock. Rothschild & Co Redburn began coverage on shares of Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective for the company. Zacks Research cut Omnicom Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Morgan Stanley upped their target price on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, Wells Fargo & Company raised their price target on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $99.00.

About Omnicom Group

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.