Coho Partners Ltd. Has $133.47 Million Position in Omnicom Group (OMC)
Coho Partners Ltd. cut its stake in Omnicom Group (NYSE:OMC) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,836,605 shares of the business services provider’s stock after selling 52,194 shares during the quarter. Omnicom Group comprises approximately 3.5% of Coho Partners Ltd.’s holdings, making the stock its 15th largest holding. Coho Partners Ltd. owned approximately 0.81% of Omnicom Group worth $133,466,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Teacher Retirement System of Texas lifted its position in Omnicom Group by 105.6% in the first quarter. Teacher Retirement System of Texas now owns 344,147 shares of the business services provider’s stock worth $25,009,000 after buying an additional 176,725 shares during the last quarter. Signaturefd LLC bought a new stake in Omnicom Group in the first quarter worth $226,000. O Shaughnessy Asset Management LLC lifted its position in Omnicom Group by 126.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 57,231 shares of the business services provider’s stock worth $4,159,000 after buying an additional 31,935 shares during the last quarter. Aperio Group LLC lifted its position in Omnicom Group by 4.5% in the first quarter. Aperio Group LLC now owns 169,388 shares of the business services provider’s stock worth $12,309,000 after buying an additional 7,360 shares during the last quarter. Finally, American International Group Inc. lifted its position in Omnicom Group by 6.7% in the first quarter. American International Group Inc. now owns 441,878 shares of the business services provider’s stock worth $32,111,000 after buying an additional 27,847 shares during the last quarter.
OMC has been the subject of a number of analyst reports. TheStreet upgraded Omnicom Group from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Zacks Investment Research upgraded Omnicom Group from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Tuesday, March 20th. Wells Fargo restated a “hold” rating and issued a $80.00 price target on shares of Omnicom Group in a research report on Friday, February 16th. Pivotal Research lowered their price target on Omnicom Group from $76.00 to $75.00 and set a “hold” rating for the company in a research report on Thursday, February 15th. Finally, ValuEngine downgraded Omnicom Group from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $81.36.
Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, April 17th. The business services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.08. Omnicom Group had a return on equity of 39.97% and a net margin of 7.25%. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period last year, the company earned $1.02 earnings per share. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. sell-side analysts anticipate that Omnicom Group will post 5.65 earnings per share for the current year.
In other news, Director Linda Johnson Rice sold 499 shares of the firm’s stock in a transaction on Thursday, April 19th. The stock was sold at an average price of $75.31, for a total transaction of $37,579.69. Following the transaction, the director now owns 7,900 shares in the company, valued at $594,949. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Treasurer Dennis E. Hewitt sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $77.38, for a total value of $154,760.00. Following the transaction, the treasurer now owns 42,561 shares in the company, valued at approximately $3,293,370.18. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.
About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.
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