Korea Investment CORP Invests $11.07 Million in Omnicom Group Inc. $OMC

Korea Investment CORP purchased a new stake in shares of Omnicom Group Inc. (NYSE:OMC) during the second quarter, Holdings Channel reports. The fund purchased 152,072 shares of the business services provider’s stock, valued at approximately $11,075,000.

Several other institutional investors and hedge funds have also modified their holdings of OMC. Activest Wealth Management boosted its holdings in Omnicom Group by 2,960.0% in the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after purchasing an additional 296 shares in the last quarter. Keating Financial Advisory Services Inc. bought a new position in Omnicom Group during the second quarter valued at about $25,000. Elyxium Wealth LLC acquired a new stake in shares of Omnicom Group in the fourth quarter worth about $26,000. Legacy Wealth Managment LLC ID lifted its position in shares of Omnicom Group by 111.4% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares during the last quarter. Finally, EFG International AG bought a new stake in shares of Omnicom Group during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OMC. Citigroup lowered their price objective on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Rothschild & Co Redburn started coverage on Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price for the company. The Goldman Sachs Group assumed coverage on Omnicom Group in a report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target on the stock. Zacks Research lowered shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company boosted their price objective on shares of Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Omnicom Group currently has a consensus rating of “Hold” and an average price target of $99.00.

Omnicom Group Trading Up 1.6%

Omnicom Group stock opened at $88.94 on Tuesday. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $89.57. 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 firm has a market capitalization of $24.40 billion, a PE ratio of 76.68, a PEG ratio of 0.58 and a beta of 0.64. The business’s 50-day simple moving average is $80.59 and its 200-day simple moving average is $77.72.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.02). The business had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. Omnicom Group’s revenue for the quarter was up 63.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.05 EPS. Equities research analysts forecast that Omnicom Group Inc. will post 10.35 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s dividend payout ratio is currently 275.86%.

Omnicom Group Company Profile

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.