Omnicom Group Inc. (OMC) Position Increased by Teacher Retirement System of Texas
Teacher Retirement System of Texas increased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 75.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 603,376 shares of the business services provider’s stock after acquiring an additional 259,229 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.27% of Omnicom Group worth $46,019,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. lifted its holdings in Omnicom Group by 201.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,454 shares of the business services provider’s stock worth $111,000 after acquiring an additional 972 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in Omnicom Group by 239.8% during the first quarter. Stratos Wealth Partners LTD. now owns 1,672 shares of the business services provider’s stock worth $122,000 after acquiring an additional 1,180 shares during the period. Credit Agricole S A bought a new stake in Omnicom Group during the first quarter worth $151,000. Vigilant Capital Management LLC lifted its holdings in Omnicom Group by 3,495.5% during the second quarter. Vigilant Capital Management LLC now owns 2,409 shares of the business services provider’s stock worth $184,000 after acquiring an additional 2,342 shares during the period. Finally, Piedmont Investment Advisors LLC bought a new stake in Omnicom Group during the second quarter worth $199,000.
A number of brokerages recently commented on OMC. ValuEngine upgraded Omnicom Group from a “sell” rating to a “hold” rating in a report on Thursday, July 12th. Moffett Nathanson assumed coverage on Omnicom Group in a report on Tuesday, June 19th. They set a “sell” rating and a $63.00 price target on the stock. BMO Capital Markets reissued a “buy” rating and issued a $85.00 target price on shares of Omnicom Group in a research report on Thursday, July 19th. Zacks Investment Research downgraded Omnicom Group from a “hold” rating to a “sell” rating in a research report on Tuesday, June 19th. Finally, Royal Bank of Canada decreased their target price on Omnicom Group to $75.00 and set a “$70.60” rating for the company in a research report on Wednesday, July 18th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $78.08.
NYSE:OMC opened at $67.85 on Friday. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.89 and a quick ratio of 0.78. Omnicom Group Inc. has a 1 year low of $65.32 and a 1 year high of $83.34. The firm has a market capitalization of $15.24 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 2.17 and a beta of 1.10.
Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, July 17th. The business services provider reported $1.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.06. Omnicom Group had a return on equity of 40.82% and a net margin of 7.45%. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same period last year, the business posted $1.40 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. equities research analysts predict that Omnicom Group Inc. will post 5.58 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 10th. Stockholders of record on Friday, September 21st will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Thursday, September 20th. Omnicom Group’s dividend payout ratio (DPR) is presently 47.06%.
About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.
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