Mcrae Capital Management Inc. Reduces Position in Omnicom Group (OMC)

Mcrae Capital Management Inc. cut its position in shares of Omnicom Group (NYSE:OMC) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,405 shares of the business services provider’s stock after selling 3,075 shares during the period. Omnicom Group makes up about 3.1% of Mcrae Capital Management Inc.’s portfolio, making the stock its 14th biggest holding. Mcrae Capital Management Inc.’s holdings in Omnicom Group were worth $6,788,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Schroder Investment Management Group raised its position in Omnicom Group by 126.3% during the fourth quarter. Schroder Investment Management Group now owns 2,498,819 shares of the business services provider’s stock valued at $181,989,000 after purchasing an additional 1,394,586 shares during the period. Bank of New York Mellon Corp raised its position in Omnicom Group by 28.3% during the fourth quarter. Bank of New York Mellon Corp now owns 6,194,041 shares of the business services provider’s stock valued at $451,110,000 after purchasing an additional 1,366,325 shares during the period. Kiltearn Partners LLP purchased a new stake in Omnicom Group during the fourth quarter valued at approximately $97,767,000. Pzena Investment Management LLC raised its position in Omnicom Group by 20.7% during the fourth quarter. Pzena Investment Management LLC now owns 7,653,555 shares of the business services provider’s stock valued at $557,408,000 after purchasing an additional 1,310,260 shares during the period. Finally, Ceredex Value Advisors LLC purchased a new stake in Omnicom Group during the first quarter valued at approximately $80,364,000.

Omnicom Group opened at $75.29 on Tuesday, according to Marketbeat. The firm has a market cap of $17.04 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 2.29 and a beta of 1.15. Omnicom Group has a 52 week low of $65.32 and a 52 week high of $85.44. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.52.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, April 17th. The business services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.06 by $0.08. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.63 billion. Omnicom Group had a return on equity of 39.97% and a net margin of 7.25%. Omnicom Group’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the business posted $1.02 EPS. equities research analysts forecast that Omnicom Group will post 5.65 EPS for the current fiscal year.

Several brokerages have recently weighed in on OMC. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. Bank of America downgraded Omnicom Group from a “neutral” rating to an “underperform” rating in a report on Thursday, January 25th. Barclays reiterated a “hold” rating and issued a $81.00 price target on shares of Omnicom Group in a report on Thursday, January 25th. Morgan Stanley increased their price target on Omnicom Group from $72.00 to $76.00 and gave the stock an “underweight” rating in a report on Wednesday, January 31st. Finally, ValuEngine downgraded Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $81.36.

In other Omnicom Group news, Director Linda Johnson Rice sold 499 shares of the stock in a transaction on Thursday, April 19th. The stock was sold at an average price of $75.31, for a total transaction of $37,579.69. Following the sale, the director now owns 7,900 shares of the company’s stock, valued at approximately $594,949. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Treasurer Dennis E. Hewitt sold 2,000 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $77.38, for a total value of $154,760.00. Following the sale, the treasurer now directly owns 42,561 shares in the company, valued at approximately $3,293,370.18. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.

Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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