Procyon Advisors LLC Grows Holdings in Omnicom Group Inc. $OMC

Procyon Advisors LLC boosted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 56.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 34,881 shares of the business services provider’s stock after purchasing an additional 12,561 shares during the period. Procyon Advisors LLC’s holdings in Omnicom Group were worth $2,627,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in OMC. Activest Wealth Management boosted its stake in shares of Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after buying an additional 296 shares during the period. Bayforest Capital Ltd purchased a new stake in Omnicom Group during the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new stake in Omnicom Group during the 4th quarter worth approximately $26,000. Legacy Wealth Managment LLC ID grew its stake in shares of Omnicom Group by 111.4% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. Finally, EFG International AG acquired a new position in shares of Omnicom Group in the fourth quarter valued at approximately $28,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on OMC. UBS Group increased their price target on Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a research note on Friday, May 22nd. The Goldman Sachs Group started coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target for the company. Argus raised Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Finally, Rothschild & Co Redburn assumed coverage on Omnicom Group in a research note on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price for the company. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $99.38.

Omnicom Group Stock Performance

OMC opened at $82.48 on Tuesday. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17. The stock has a market cap of $23.51 billion, a P/E ratio of 211.49, a P/E/G ratio of 0.49 and a beta of 0.63. The stock’s 50 day simple moving average is $75.40 and its 200 day simple moving average is $76.73. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The firm had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.Omnicom Group’s revenue was up 69.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.70 earnings per share. As a group, equities analysts anticipate that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Wednesday, June 10th. Omnicom Group’s payout ratio is 820.51%.

Omnicom Group 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.