Omnicom Group Inc. $OMC Shares Sold by Kestra Investment Management LLC

Kestra Investment Management LLC lessened its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 59.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,689 shares of the business services provider’s stock after selling 2,467 shares during the quarter. Kestra Investment Management LLC’s holdings in Omnicom Group were worth $140,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Robinson Value Management Ltd. grew its stake in Omnicom Group by 0.4% during the 1st quarter. Robinson Value Management Ltd. now owns 34,217 shares of the business services provider’s stock valued at $2,837,000 after purchasing an additional 139 shares in the last quarter. Versant Capital Management Inc grew its stake in Omnicom Group by 45.7% during the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 143 shares in the last quarter. Mezzasalma Advisors LLC grew its stake in Omnicom Group by 3.1% during the 1st quarter. Mezzasalma Advisors LLC now owns 5,339 shares of the business services provider’s stock valued at $443,000 after purchasing an additional 159 shares in the last quarter. Financial Advisors Network Inc. grew its stake in Omnicom Group by 6.1% during the 1st quarter. Financial Advisors Network Inc. now owns 2,756 shares of the business services provider’s stock valued at $228,000 after purchasing an additional 159 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its stake in Omnicom Group by 0.8% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 22,126 shares of the business services provider’s stock valued at $1,834,000 after purchasing an additional 165 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on OMC shares. Barclays lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. JPMorgan Chase & Co. decreased their target price on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a research report on Thursday, July 10th. Bank of America upgraded Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 target price for the company in a research report on Monday, June 23rd. Finally, Wells Fargo & Company decreased their target price on Omnicom Group from $84.00 to $78.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 16th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.43.

Omnicom Group Price Performance

Shares of OMC opened at $77.71 on Wednesday. The firm has a market cap of $15.05 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.57 and a beta of 0.97. Omnicom Group Inc. has a 52 week low of $68.37 and a 52 week high of $107.00. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. The stock has a 50 day moving average of $75.18 and a 200-day moving average of $75.70.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.03. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the previous year, the firm posted $1.95 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a yield of 3.6%. Omnicom Group’s payout ratio is currently 40.17%.

Omnicom Group Company 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.