Sterling Capital Management LLC Sells 8,451 Shares of Omnicom Group Inc. $OMC

Sterling Capital Management LLC reduced its position in Omnicom Group Inc. (NYSE:OMC) by 44.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,531 shares of the business services provider’s stock after selling 8,451 shares during the period. Sterling Capital Management LLC’s holdings in Omnicom Group were worth $793,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Omnicom Group by 64.2% during the fourth quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock valued at $3,143,930,000 after purchasing an additional 15,220,444 shares in the last quarter. State Street Corp raised its position in Omnicom Group by 40.4% in the 4th quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock worth $1,933,891,000 after buying an additional 6,813,441 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Omnicom Group by 69.6% during the 4th quarter. Bank of New York Mellon Corp now owns 11,283,863 shares of the business services provider’s stock valued at $911,172,000 after acquiring an additional 4,631,394 shares during the period. Wellington Management Group LLP lifted its stake in Omnicom Group by 522.9% during the 4th quarter. Wellington Management Group LLP now owns 5,199,477 shares of the business services provider’s stock valued at $419,858,000 after acquiring an additional 4,364,797 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Omnicom Group by 57.1% during the 4th quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock valued at $690,327,000 after acquiring an additional 3,117,188 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Omnicom Group Stock Performance

Shares of NYSE OMC opened at $76.13 on Thursday. The firm has a 50 day moving average of $74.85 and a 200 day moving average of $76.75. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $21.70 billion, a price-to-earnings ratio of 195.20, a price-to-earnings-growth ratio of 0.44 and a beta of 0.63. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $87.17.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. The business had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The company’s quarterly revenue was up 69.2% on a year-over-year basis. During the same period last year, the firm earned $1.70 earnings per share. On average, research analysts anticipate that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is currently 820.51%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OMC. Citigroup reduced their price target on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. UBS Group boosted their target price on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Morgan Stanley raised their price target on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. The Goldman Sachs Group started coverage on Omnicom Group in a report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective for the company. Finally, Rothschild & Co Redburn began coverage on Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $99.00.

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.