Chatham Capital Group Inc. lessened its position in shares of Omnicom Group Inc. (NYSE:OMC) by 7.3% in the 1st quarter, HoldingsChannel reports. The fund owned 31,895 shares of the business services provider’s stock after selling 2,500 shares during the period. Chatham Capital Group Inc.’s holdings in Omnicom Group were worth $2,328,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of OMC. NuWave Investment Management LLC increased its stake in Omnicom Group by 1,876.5% during the 4th quarter. NuWave Investment Management LLC now owns 336 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 319 shares in the last quarter. Sontag Advisory LLC acquired a new position in Omnicom Group during the 4th quarter valued at approximately $28,000. Eukles Asset Management acquired a new position in Omnicom Group during the 4th quarter valued at approximately $29,000. Capital Financial Planning LLC acquired a new position in Omnicom Group during the 4th quarter valued at approximately $30,000. Finally, JOYN Advisors Inc. increased its stake in 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 in the last quarter.
A number of brokerages have issued reports on OMC. BMO Capital Markets upped their price target on shares of Omnicom Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Barclays upgraded shares of Omnicom Group from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $76.00 to $84.00 in a research note on Wednesday, April 17th. Citigroup upped their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company a “neutral” rating in a research note on Thursday, February 14th. Macquarie set a $76.00 price target on shares of Omnicom Group and gave the company a “hold” rating in a research note on Thursday, February 14th. Finally, Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Friday, January 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $76.90.
In other news, CEO Jonathan B. Nelson sold 4,916 shares of the stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $84.22, for a total value of $414,025.52. Following the sale, the chief executive officer now owns 83,858 shares in the company, valued at $7,062,520.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman John Wren sold 60,541 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $79.84, for a total transaction of $4,833,593.44. The disclosure for this sale can be found here. Insiders sold 72,910 shares of company stock worth $5,834,558 in the last quarter. Company insiders own 1.10% of the company’s stock.
Shares of Omnicom Group stock opened at $79.78 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.79 and a debt-to-equity ratio of 1.89. Omnicom Group Inc. has a 12-month low of $65.85 and a 12-month high of $84.35. The company has a market cap of $17.63 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 2.86 and a beta of 0.71.
Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, April 16th. The business services provider reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.09. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.51 billion. Omnicom Group had a net margin of 8.76% and a return on equity of 44.01%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 earnings per share. Research analysts forecast that Omnicom Group Inc. will post 5.93 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.26%. Omnicom Group’s payout ratio is currently 45.22%.
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About Omnicom Group
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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