Omnicom Group Inc. $OMC Shares Sold by Richards Merrill & Peterson Inc.

Richards Merrill & Peterson Inc. lowered its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 6.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,412 shares of the business services provider’s stock after selling 399 shares during the quarter. Richards Merrill & Peterson Inc.’s holdings in Omnicom Group were worth $389,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of OMC. Pacer Advisors Inc. lifted its position in Omnicom Group by 17,506.1% during the 1st quarter. Pacer Advisors Inc. now owns 2,744,080 shares of the business services provider’s stock worth $227,512,000 after acquiring an additional 2,728,494 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Omnicom Group by 20.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 7,178,226 shares of the business services provider’s stock valued at $595,147,000 after buying an additional 1,205,165 shares during the last quarter. Baird Financial Group Inc. raised its position in Omnicom Group by 44.5% during the 1st quarter. Baird Financial Group Inc. now owns 3,896,270 shares of the business services provider’s stock worth $323,040,000 after buying an additional 1,199,725 shares during the last quarter. AQR Capital Management LLC lifted its stake in Omnicom Group by 1,836.5% during the 1st quarter. AQR Capital Management LLC now owns 1,086,752 shares of the business services provider’s stock valued at $89,114,000 after acquiring an additional 1,030,633 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Omnicom Group by 42.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,965,974 shares of the business services provider’s stock worth $245,909,000 after acquiring an additional 887,415 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Trading Down 1.7%

Shares of OMC stock opened at $78.97 on Friday. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $107.00. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92. The stock’s fifty day moving average is $77.85 and its two-hundred day moving average is $75.11. The firm has a market capitalization of $15.24 billion, a P/E ratio of 11.66, a PEG ratio of 1.54 and a beta of 0.96.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 21st. The business services provider reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.07. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the prior year, the company earned $2.03 EPS. Omnicom Group’s revenue was up 4.0% compared to the same quarter last year. Research analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $78.00 to $91.00 in a report on Tuesday, September 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research report on Wednesday, October 8th. Finally, Barclays lifted their price target on Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.57.

About Omnicom Group

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.