CX Institutional Sells 2,694 Shares of Omnicom Group Inc. $OMC

CX Institutional lessened its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 61.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,700 shares of the business services provider’s stock after selling 2,694 shares during the period. CX Institutional’s holdings in Omnicom Group were worth $122,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new position in shares of Omnicom Group in the first quarter worth $34,000. Gen Wealth Partners Inc bought a new stake in Omnicom Group during the first quarter worth about $36,000. Versant Capital Management Inc grew its stake in Omnicom Group by 45.7% during the first quarter. Versant Capital Management Inc now owns 456 shares of the business services provider’s stock worth $38,000 after buying an additional 143 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Omnicom Group by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider’s stock valued at $41,000 after buying an additional 343 shares during the period. Finally, N.E.W. Advisory Services LLC bought a new position in Omnicom Group in the 1st quarter valued at about $43,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Stock Performance

NYSE OMC opened at $77.07 on Thursday. The firm’s fifty day moving average price is $75.80 and its two-hundred day moving average price is $75.27. The stock has a market cap of $14.93 billion, a PE ratio of 11.06, a PEG ratio of 1.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $107.00.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.03. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.95 billion. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.Omnicom Group’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.95 EPS. On average, equities analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Omnicom Group’s dividend payout ratio (DPR) is presently 40.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OMC. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $78.00 to $91.00 in a report on Tuesday. Barclays cut Omnicom Group from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Bank of America raised Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a report on Monday, June 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a report on Thursday, July 10th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.29.

Omnicom Group Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.