Sawgrass Asset Management LLC reduced its stake in Omnicom Group Inc. (NYSE:OMC) by 0.8% during the first quarter, HoldingsChannel reports. The firm owned 24,960 shares of the business services provider’s stock after selling 200 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Omnicom Group were worth $1,822,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of OMC. NuWave Investment Management LLC boosted its holdings in Omnicom Group by 1,876.5% in the 4th quarter. NuWave Investment Management LLC now owns 336 shares of the business services provider’s stock worth $25,000 after buying an additional 319 shares during the period. Sontag Advisory LLC bought a new position in Omnicom Group in the 4th quarter worth $28,000. Eukles Asset Management bought a new position in Omnicom Group in the 4th quarter worth $29,000. Capital Financial Planning LLC bought a new position in Omnicom Group in the 4th quarter worth $30,000. Finally, JOYN Advisors Inc. boosted its holdings in shares of Omnicom Group by 47.2% during the 4th quarter. JOYN Advisors Inc. now owns 443 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 142 shares during the last quarter.
Shares of NYSE OMC traded up $0.22 during mid-day trading on Friday, hitting $79.26. 9,233 shares of the company’s stock traded hands, compared to its average volume of 1,868,521. The company has a current ratio of 0.88, a quick ratio of 0.79 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $17.40 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 2.83 and a beta of 0.71. Omnicom Group Inc. has a 1 year low of $65.85 and a 1 year high of $84.35.
Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, April 16th. The business services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.09. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Omnicom Group had a net margin of 8.76% and a return on equity of 44.01%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 EPS. On average, equities analysts predict that Omnicom Group Inc. will post 5.93 EPS for the current fiscal year.
In related news, SVP Andrew Castellaneta sold 4,400 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $80.24, for a total value of $353,056.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Leonard S. Coleman, Jr. sold 2,556 shares of the stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $75.25, for a total transaction of $192,339.00. The disclosure for this sale can be found here. Insiders have sold a total of 12,369 shares of company stock worth $1,000,965 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.
Several research analysts have commented on the stock. Zacks Investment Research raised shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Friday, January 25th. Barclays raised shares of Omnicom Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $76.00 to $84.00 in a report on Wednesday, April 17th. Citigroup increased their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the company a “neutral” rating in a report on Thursday, February 14th. BMO Capital Markets increased their price objective on shares of Omnicom Group from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Finally, Macquarie set a $76.00 price objective on shares of Omnicom Group and gave the company a “hold” rating in a report on Thursday, February 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $76.90.
Omnicom Group Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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