Hardy Reed LLC Invests $693,000 in Omnicom Group Inc. $OMC

Hardy Reed LLC bought a new position in Omnicom Group Inc. (NYSE:OMC) during the second quarter, Holdings Channel reports. The firm bought 9,513 shares of the business services provider’s stock, valued at approximately $693,000.

Several other large investors have also added to or reduced their stakes in the business. Wakefield Asset Management LLLP grew its stake in shares of Omnicom Group by 2.6% in the 4th quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider’s stock worth $477,000 after acquiring an additional 149 shares in the last quarter. Caldwell Trust Co raised its holdings in shares of Omnicom Group by 29.0% in the first quarter. Caldwell Trust Co now owns 662 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 149 shares during the last quarter. SJS Investment Consulting Inc. lifted its position in shares of Omnicom Group by 39.1% during the first quarter. SJS Investment Consulting Inc. now owns 544 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 153 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC lifted its position in shares of Omnicom Group by 3.5% during the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 4,897 shares of the business services provider’s stock valued at $395,000 after purchasing an additional 167 shares in the last quarter. Finally, Binnacle Investments Inc boosted its holdings in Omnicom Group by 17.7% during the second quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider’s stock worth $81,000 after purchasing an additional 169 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $87.45 on Friday. The company’s 50-day moving average is $79.20 and its 200 day moving average is $77.24. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92. The company has a market capitalization of $23.99 billion, a P/E ratio of 75.39, a price-to-earnings-growth ratio of 0.59 and a beta of 0.64. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $88.55.

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

Omnicom Group Announces Dividend

The company 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 $0.80 dividend. The ex-dividend date is Friday, September 18th. This represents a $3.20 annualized dividend and a yield of 3.7%. Omnicom Group’s dividend payout ratio is presently 275.86%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OMC. Wells Fargo & Company upped their price objective 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. Rothschild & Co Redburn started coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price on the stock. Morgan Stanley boosted their target price on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Zacks Research lowered Omnicom Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Finally, The Goldman Sachs Group started coverage on Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $99.00.

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.