Checchi Capital Advisers LLC Trims Stock Holdings in Omnicom Group Inc. $OMC

Checchi Capital Advisers LLC reduced its stake in Omnicom Group Inc. (NYSE:OMC) by 7.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,596 shares of the business services provider’s stock after selling 280 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Omnicom Group were worth $259,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Zions Bancorporation National Association UT purchased a new stake in shares of Omnicom Group in the first quarter valued at $34,000. Gen Wealth Partners Inc purchased a new stake in shares of Omnicom Group in the first quarter valued at $36,000. Ameritas Advisory Services LLC purchased a new stake in shares of Omnicom Group in the second quarter valued at $34,000. Golden State Wealth Management LLC lifted its position in Omnicom Group by 230.2% during the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider’s stock worth $41,000 after buying an additional 343 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new position in Omnicom Group during the first quarter worth about $43,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Stock Performance

Omnicom Group stock opened at $79.68 on Wednesday. The stock’s 50-day moving average is $76.52 and its 200-day moving average is $75.03. The company has a market cap of $15.44 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 1.53 and a beta of 0.96. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $107.00.

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

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.5%. Omnicom Group’s dividend payout ratio (DPR) is 40.17%.

Analysts Set New Price Targets

OMC has been the topic of several recent analyst reports. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $78.00 to $91.00 in a research report on Tuesday, September 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research report on Saturday, September 27th. Bank of America upgraded Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research report on Monday, June 23rd. JPMorgan Chase & Co. reduced their target price 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, Barclays downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $96.29.

Omnicom Group 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.