Sound Income Strategies LLC Trims Stake in Omnicom Group Inc. $OMC

Sound Income Strategies LLC cut its holdings in Omnicom Group Inc. (NYSE:OMC) by 7.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 355,475 shares of the business services provider’s stock after selling 29,160 shares during the period. Omnicom Group accounts for 1.3% of Sound Income Strategies LLC’s portfolio, making the stock its 13th largest holding. Sound Income Strategies LLC’s holdings in Omnicom Group were worth $26,735,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Omnicom Group by 64.2% in 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 purchasing an additional 15,220,444 shares in the last quarter. State Street Corp lifted its position in Omnicom Group by 40.4% during the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock valued at $1,933,891,000 after purchasing an additional 6,813,441 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Omnicom Group by 69.6% during the fourth quarter. Bank of New York Mellon Corp now owns 11,283,863 shares of the business services provider’s stock valued at $911,172,000 after purchasing an additional 4,631,394 shares in the last quarter. Geode Capital Management LLC grew its holdings in Omnicom Group by 57.1% during the fourth 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 period. Finally, Massachusetts Financial Services Co. MA increased its position in Omnicom Group by 5.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,870,437 shares of the business services provider’s stock worth $635,538,000 after buying an additional 433,461 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OMC. Rothschild & Co Redburn initiated coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective on the stock. Argus upgraded Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Morgan Stanley increased their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Citigroup decreased their target price on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group started 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. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group has an average rating of “Hold” and a consensus price target of $99.00.

Omnicom Group Trading Up 3.2%

Shares of OMC opened at $78.55 on Friday. The firm has a market cap of $22.39 billion, a P/E ratio of 201.41, a price-to-earnings-growth ratio of 0.46 and a beta of 0.63. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17. The company has a 50 day simple moving average of $74.86 and a two-hundred day simple moving average of $76.74.

Omnicom Group (NYSE:OMC) last posted its earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. The company had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. Omnicom Group’s quarterly revenue was up 69.2% on a year-over-year basis. During the same period last year, the company posted $1.70 earnings per share. On average, equities analysts expect that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is currently 820.51%.

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.