NewEdge Advisors LLC Boosts Stock Position in Omnicom Group Inc. $OMC

NewEdge Advisors LLC boosted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 27.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,040 shares of the business services provider’s stock after buying an additional 12,425 shares during the period. NewEdge Advisors LLC’s holdings in Omnicom Group were worth $4,296,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Omnicom Group by 64.2% in the fourth quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock worth $3,143,930,000 after acquiring an additional 15,220,444 shares during the last quarter. State Street Corp boosted its stake in 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 worth $1,933,891,000 after purchasing an additional 6,813,441 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Omnicom Group by 69.6% in the 4th 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 purchasing an additional 4,631,394 shares in the last quarter. Wellington Management Group LLP boosted its stake in 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 worth $419,858,000 after purchasing an additional 4,364,797 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Omnicom Group by 57.1% during the 4th 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 last quarter. 91.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on OMC shares. Citigroup reduced their price objective on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Zacks Research cut shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. The Goldman Sachs Group assumed coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target on the stock. Morgan Stanley raised their price target on shares of 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, Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $99.00.

Omnicom Group Trading Up 1.5%

Shares of NYSE:OMC opened at $85.96 on Wednesday. The stock’s 50-day simple moving average is $78.46 and its two-hundred day simple moving average is $77.07. The stock has a market capitalization of $23.58 billion, a price-to-earnings ratio of 74.10, a PEG ratio of 0.56 and a beta of 0.64. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $87.41. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.02). The business had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.Omnicom Group’s revenue for the quarter was up 63.4% on a year-over-year basis. During the same quarter last year, the company earned $2.05 EPS. Analysts expect that Omnicom Group Inc. will post 10.35 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared 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. This represents a $3.20 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio (DPR) is currently 275.86%.

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.