Key Points
- Director Linda Johnson Rice sold 1,385 Omnicom shares at an average price of $88.73, worth approximately $122,891, reducing her direct ownership by 10.57% to 11,719 shares.
- Omnicom reported quarterly revenue of $6.56 billion, up 63.4% year over year and above estimates, while EPS of $2.65 narrowly missed the $2.67 consensus.
- The company declared a quarterly dividend of $0.80, or $3.20 annualized, representing a 3.6% yield; analysts’ consensus rating remains “Hold” with a $99 price target.
Omnicom Group Inc. (NYSE:OMC - Get Free Report) Director Linda Johnson Rice sold 1,385 shares of the company's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the transaction, the director directly owned 11,719 shares of the company's stock, valued at $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Omnicom Group Stock Down 0.2%
NYSE:OMC opened at $87.98 on Thursday. The stock has a 50-day simple moving average of $81.04 and a 200 day simple moving average of $77.99. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $89.57. The company has a market cap of $24.14 billion, a PE ratio of 75.85, a PEG ratio of 0.59 and a beta of 0.64. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92.
Omnicom Group (NYSE:OMC - Get Free Report) last released its earnings results on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The firm had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. The company's revenue was up 63.4% on a year-over-year basis. On average, sell-side analysts expect that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.
Omnicom Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group's payout ratio is currently 275.86%.
Analyst Ratings Changes
A number of research analysts recently weighed in on OMC shares. Wells Fargo & Company raised their target price on shares of Omnicom Group from $91.00 to $93.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. Morgan Stanley boosted their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Zacks Research downgraded shares of Omnicom Group from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 30th. Citigroup decreased their price objective on Omnicom Group from $105.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Finally, Rothschild & Co Redburn began coverage on Omnicom Group in a research report on Thursday, May 28th. They issued a "neutral" rating and a $89.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Omnicom Group currently has a consensus rating of "Hold" and a consensus price target of $99.00.
Get Our Latest Research Report on OMC
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System lifted its holdings in Omnicom Group by 6,250.5% during the 2nd quarter. California State Teachers Retirement System now owns 33,804,190 shares of the business services provider's stock valued at $2,461,959,000 after purchasing an additional 33,271,882 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Omnicom Group in the second quarter valued at $2,082,476,000. Vanguard Group Inc. raised its position in shares of Omnicom Group by 64.2% in 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 during the period. Bank of New York Mellon Corp bought a new position in shares of Omnicom Group in the second quarter valued at about $914,156,000. Finally, State Street Corp raised its position in shares of Omnicom Group by 40.4% in the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider's stock valued at $1,933,891,000 after purchasing an additional 6,813,441 shares during the period. 91.97% of the stock is currently owned by institutional investors.
About Omnicom Group
(
Get Free Report)
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.
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