Omnicom Group Inc. $OMC Shares Sold by Cairn Investment Group Inc.

Cairn Investment Group Inc. cut its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,956 shares of the business services provider’s stock after selling 1,256 shares during the quarter. Omnicom Group makes up approximately 1.6% of Cairn Investment Group Inc.’s holdings, making the stock its 24th largest holding. Cairn Investment Group Inc.’s holdings in Omnicom Group were worth $3,018,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Zions Bancorporation National Association UT acquired a new stake in shares of Omnicom Group during the first quarter worth approximately $34,000. Gen Wealth Partners Inc bought a new position in Omnicom Group during the 1st quarter valued at $36,000. Versant Capital Management Inc boosted its stake in Omnicom Group by 45.7% during the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 143 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of Omnicom Group by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider’s stock worth $41,000 after purchasing an additional 343 shares during the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Omnicom Group in the 1st quarter valued at about $43,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $77.04 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80. The firm has a market capitalization of $14.92 billion, a PE ratio of 11.05, a P/E/G ratio of 1.50 and a beta of 0.97. Omnicom Group Inc. has a 1-year low of $68.37 and a 1-year high of $107.00. The business’s fifty day moving average price is $76.02 and its two-hundred day moving average price is $75.10.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.03. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the previous year, the company posted $1.95 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, research analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be paid a $0.70 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. Omnicom Group’s dividend payout ratio (DPR) is presently 40.17%.

Analysts Set New Price Targets

OMC has been the subject of a number of research reports. Bank of America upgraded Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a research note on Monday, June 23rd. Barclays lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. JPMorgan Chase & Co. dropped their price target on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Thursday, July 10th. Finally, Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $96.29.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.