Omnicom Group Inc. $OMC Stock: TD Waterhouse Canada Inc. Trims Position

TD Waterhouse Canada Inc. lowered its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 24.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,571 shares of the business services provider’s stock after selling 31,309 shares during the period. TD Waterhouse Canada Inc.’s holdings in Omnicom Group were worth $7,214,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Orca Investment Management LLC purchased a new stake in shares of Omnicom Group during the second quarter worth about $2,023,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Omnicom Group during the second quarter valued at approximately $9,146,000. Polianta Ltd purchased a new position in shares of Omnicom Group during the second quarter valued at approximately $1,762,000. NewEdge Advisors LLC lifted its stake in shares of Omnicom Group by 27.8% during the first quarter. NewEdge Advisors LLC now owns 57,040 shares of the business services provider’s stock valued at $4,296,000 after buying an additional 12,425 shares during the period. Finally, Nykredit A S acquired a new stake in Omnicom Group during the second quarter worth approximately $92,660,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Citigroup cut their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Barclays decreased their price objective on Omnicom Group from $90.00 to $88.00 and set an “equal weight” rating on the stock in a report on Friday, October 9th. Finally, Argus raised Omnicom Group to a “hold” rating in a research report on Monday, September 14th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $98.75.

Omnicom Group Trading Down 1.4%

NYSE OMC opened at $79.43 on Tuesday. The company has a market cap of $21.79 billion, a P/E ratio of 68.47, a P/E/G ratio of 0.68 and a beta of 0.68. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month 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. The company has a 50-day moving average of $80.84 and a 200-day moving average of $78.36.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (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 company had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same period in the prior year, the business posted $2.05 earnings per share. Omnicom Group’s revenue was up 63.4% on a year-over-year basis. As a group, equities analysts predict that Omnicom Group Inc. will post 10.50 earnings per share for the current year.

Insider Activity at Omnicom Group

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the transaction, the director owned 11,719 shares in the company, valued at $1,039,826.87. The trade was a 10.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Omnicom Group Company Profile

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.