Sound Shore Management Inc. CT Takes $63.48 Million Position in Omnicom Group Inc. $OMC

Sound Shore Management Inc. CT bought a new position in shares of Omnicom Group Inc. (NYSE:OMC) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 842,962 shares of the business services provider’s stock, valued at approximately $63,483,000.

Several other institutional investors have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC raised its stake in shares of Omnicom Group by 155.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 91,116 shares of the business services provider’s stock valued at $7,265,000 after purchasing an additional 55,421 shares in the last quarter. Deprince Race & Zollo Inc. lifted its position in shares of Omnicom Group by 34.0% during the fourth quarter. Deprince Race & Zollo Inc. now owns 524,037 shares of the business services provider’s stock worth $42,316,000 after purchasing an additional 133,093 shares during the last quarter. Nordea Investment Management AB grew its stake in Omnicom Group by 2,103.2% in the fourth quarter. Nordea Investment Management AB now owns 411,049 shares of the business services provider’s stock worth $33,262,000 after purchasing an additional 392,392 shares in the last quarter. LBP AM SA grew its stake in Omnicom Group by 24.2% in the fourth quarter. LBP AM SA now owns 149,672 shares of the business services provider’s stock worth $12,086,000 after purchasing an additional 29,195 shares in the last quarter. Finally, Disciplined Equity Management Inc. bought a new stake in Omnicom Group in the fourth quarter valued at about $1,343,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Performance

Shares of NYSE OMC opened at $81.72 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm’s 50-day moving average price is $75.79 and its two-hundred day moving average price is $76.78. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $87.17. The stock has a market capitalization of $23.29 billion, a P/E ratio of 209.53, a P/E/G ratio of 0.49 and a beta of 0.63.

Omnicom Group (NYSE:OMC) last issued its earnings results on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.Omnicom Group’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.70 earnings per share. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio is presently 820.51%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on OMC shares. Weiss Ratings restated a “hold (c-)” rating on shares of Omnicom Group in a research note on Friday, May 22nd. Morgan Stanley lifted their target price on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Argus upgraded Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Rothschild & Co Redburn began coverage on Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target on the stock. Finally, The Goldman Sachs Group started coverage on Omnicom Group in a research note on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $99.38.

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.