California State Teachers Retirement System Sells 279 Shares of Omnicom Group Inc. (OMC)

California State Teachers Retirement System lessened its holdings in Omnicom Group Inc. (NYSE:OMC) by 0.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 371,323 shares of the business services provider’s stock after selling 279 shares during the period. California State Teachers Retirement System owned approximately 0.17% of Omnicom Group worth $27,196,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. JOYN Advisors Inc. boosted its position in Omnicom Group by 47.2% in the 4th quarter. JOYN Advisors Inc. now owns 443 shares of the business services provider’s stock valued at $32,000 after buying an additional 142 shares during the period. Archford Capital Strategies LLC boosted its position in Omnicom Group by 16.4% in the 4th quarter. Archford Capital Strategies LLC now owns 1,202 shares of the business services provider’s stock valued at $88,000 after buying an additional 169 shares during the period. Wetherby Asset Management Inc. boosted its position in Omnicom Group by 2.2% in the 4th quarter. Wetherby Asset Management Inc. now owns 7,977 shares of the business services provider’s stock valued at $584,000 after buying an additional 173 shares during the period. CENTRAL TRUST Co boosted its position in Omnicom Group by 3.2% in the 4th quarter. CENTRAL TRUST Co now owns 7,455 shares of the business services provider’s stock valued at $546,000 after buying an additional 234 shares during the period. Finally, CIBC Asset Management Inc boosted its position in Omnicom Group by 1.1% in the 4th quarter. CIBC Asset Management Inc now owns 21,778 shares of the business services provider’s stock valued at $1,595,000 after buying an additional 246 shares during the period.

In related news, Director Linda Johnson Rice sold 495 shares of the business’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $74.79, for a total value of $37,021.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leonard S. Coleman, Jr. sold 2,556 shares of the business’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $75.25, for a total transaction of $192,339.00. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Several research firms have recently issued reports on OMC. Zacks Investment Research raised shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Monday, December 17th. BMO Capital Markets decreased their price objective on shares of Omnicom Group from $84.00 to $83.00 and set an “outperform” rating for the company in a research report on Wednesday, February 13th. Macquarie set a $76.00 price objective on shares of Omnicom Group and gave the stock a “hold” rating in a research report on Thursday, February 14th. Finally, Citigroup lifted their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the stock a “neutral” rating in a research report on Thursday, February 14th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Omnicom Group has a consensus rating of “Hold” and a consensus target price of $75.60.

Omnicom Group stock opened at $75.64 on Friday. The firm has a market cap of $16.83 billion, a PE ratio of 13.15, a PEG ratio of 2.73 and a beta of 0.69. Omnicom Group Inc. has a 12-month low of $65.85 and a 12-month high of $78.75. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.90 and a quick ratio of 0.82.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, February 12th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.11. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 43.14%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 EPS. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 5.86 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 9th. Investors of record on Monday, March 11th will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, March 8th. This is a boost from Omnicom Group’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a yield of 3.44%. Omnicom Group’s payout ratio is 45.22%.

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Omnicom Group Profile

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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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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