Cibc World Markets Corp Sells 1,127 Shares of Omnicom Group Inc. (NYSE:OMC)

Cibc World Markets Corp lowered its stake in Omnicom Group Inc. (NYSE:OMC) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 139,297 shares of the business services provider’s stock after selling 1,127 shares during the quarter. Cibc World Markets Corp’s holdings in Omnicom Group were worth $11,142,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in OMC. Cambridge Investment Research Advisors Inc. increased its stake in shares of Omnicom Group by 67.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 14,150 shares of the business services provider’s stock worth $1,132,000 after buying an additional 5,711 shares during the period. Toronto Dominion Bank grew its holdings in Omnicom Group by 0.6% in the 2nd quarter. Toronto Dominion Bank now owns 202,586 shares of the business services provider’s stock worth $16,202,000 after acquiring an additional 1,153 shares during the last quarter. XML Financial LLC bought a new stake in Omnicom Group in the 2nd quarter worth $405,000. Capital Advisors Ltd. LLC purchased a new position in shares of Omnicom Group in the second quarter valued at about $192,000. Finally, Ethic Inc. raised its stake in shares of Omnicom Group by 20.5% during the second quarter. Ethic Inc. now owns 19,017 shares of the business services provider’s stock valued at $1,521,000 after acquiring an additional 3,237 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

OMC stock opened at $72.46 on Wednesday. Omnicom Group Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $86.38. The company has a market capitalization of $15.54 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 1.43 and a beta of 0.92. The business’s 50 day moving average price is $74.16 and its two-hundred day moving average price is $77.75. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.00.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Monday, July 19th. The business services provider reported $1.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.08. The company had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Omnicom Group had a return on equity of 35.92% and a net margin of 9.65%. The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 earnings per share. Sell-side analysts forecast that Omnicom Group Inc. will post 6.14 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 12th. Investors of record on Tuesday, September 21st will be paid a $0.70 dividend. The ex-dividend date is Monday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.86%. Omnicom Group’s payout ratio is 55.45%.

A number of brokerages recently issued reports on OMC. Morgan Stanley reduced their price target on Omnicom Group from $79.00 to $76.00 and set an “underweight” rating on the stock in a report on Wednesday, July 21st. Zacks Investment Research upgraded Omnicom Group from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Thursday, July 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $76.50.

About Omnicom Group

Omnicom Group, Inc is a holding company, which engages in the management and provision of advertising agencies. The firm offers marketing and corporate communications services. Its agency networks operates in the advertising, marketing, and corporate communications services industry, which are organized into regions, such as the Americas, EMEA and Asia-Pacific.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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