Omnicom Group Inc. (OMC) Stake Lowered by CCM Investment Advisers LLC
CCM Investment Advisers LLC cut its stake in Omnicom Group Inc. (NYSE:OMC) by 32.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 58,205 shares of the business services provider’s stock after selling 27,879 shares during the period. CCM Investment Advisers LLC’s holdings in Omnicom Group were worth $4,825,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in OMC. Cribstone Capital Management LLC purchased a new stake in Omnicom Group during the first quarter valued at approximately $164,000. Invictus RG boosted its stake in Omnicom Group by 1,098.2% in the first quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock valued at $170,000 after buying an additional 1,812 shares during the period. FNY Partners Fund LP boosted its stake in Omnicom Group by 46.7% in the first quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock valued at $189,000 after buying an additional 700 shares during the period. Global X Management Co. LLC boosted its stake in Omnicom Group by 29.4% in the first quarter. Global X Management Co. LLC now owns 2,245 shares of the business services provider’s stock valued at $194,000 after buying an additional 510 shares during the period. Finally, Huntington Steele LLC purchased a new stake in Omnicom Group during the first quarter valued at approximately $202,000. Institutional investors own 98.68% of the company’s stock.
Shares of Omnicom Group Inc. (OMC) opened at 77.75 on Friday. The firm has a market cap of $17.94 billion, a PE ratio of 15.70 and a beta of 1.25. Omnicom Group Inc. has a 52 week low of $77.50 and a 52 week high of $89.66. The company has a 50 day moving average of $80.76 and a 200 day moving average of $83.41.
Omnicom Group (NYSE:OMC) last announced its earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.02. The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.74 billion. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. Omnicom Group’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 EPS. On average, equities research analysts anticipate that Omnicom Group Inc. will post $5.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be given a $0.55 dividend. The ex-dividend date is Thursday, September 21st. This represents a $2.20 dividend on an annualized basis and a yield of 2.83%. Omnicom Group’s dividend payout ratio is presently 44.44%.
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Several research firms have recently commented on OMC. Zacks Investment Research cut shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Macquarie cut shares of Omnicom Group from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $90.00 to $83.00 in a research note on Tuesday, June 6th. Barclays PLC restated a “hold” rating and issued a $86.00 target price on shares of Omnicom Group in a research note on Thursday, April 20th. Wedbush reduced their target price on shares of Omnicom Group from $90.00 to $89.00 and set a “neutral” rating for the company in a research note on Wednesday, April 19th. Finally, Royal Bank Of Canada set a $96.00 target price on shares of Omnicom Group and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. Omnicom Group has a consensus rating of “Hold” and an average target price of $86.00.
In other Omnicom Group news, Treasurer Dennis E. Hewitt sold 900 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total value of $71,199.00. Following the completion of the sale, the treasurer now directly owns 44,161 shares of the company’s stock, valued at approximately $3,493,576.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Linda Johnson Rice sold 483 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $82.19, for a total transaction of $39,697.77. Following the completion of the sale, the director now directly owns 7,724 shares of the company’s stock, valued at $634,835.56. The disclosure for this sale can be found here. Insiders sold a total of 24,183 shares of company stock valued at $2,046,845 in the last quarter. 1.10% of the stock is currently owned by insiders.
About Omnicom Group
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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