Omnicom Group Inc. $OMC Shares Bought by Meyer Handelman Co.

Meyer Handelman Co. grew its position in Omnicom Group Inc. (NYSE:OMC) by 29.2% during the 1st quarter, Holdings Channel reports. The fund owned 240,466 shares of the business services provider’s stock after buying an additional 54,309 shares during the quarter. Meyer Handelman Co.’s holdings in Omnicom Group were worth $18,109,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Omnicom Group by 64.2% during the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock worth $3,143,930,000 after buying an additional 15,220,444 shares in the last quarter. State Street Corp boosted its stake in shares of Omnicom Group by 40.4% in the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock valued at $1,933,891,000 after buying an additional 6,813,441 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Omnicom Group by 69.6% in the fourth quarter. Bank of New York Mellon Corp now owns 11,283,863 shares of the business services provider’s stock valued at $911,172,000 after buying an additional 4,631,394 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Omnicom Group by 57.1% in the fourth quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock valued at $690,327,000 after buying an additional 3,117,188 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Omnicom Group by 5.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,870,437 shares of the business services provider’s stock worth $635,538,000 after acquiring an additional 433,461 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Trading Down 0.2%

Shares of OMC stock opened at $73.54 on Friday. The stock has a market cap of $20.96 billion, a P/E ratio of 188.56, a P/E/G ratio of 0.44 and a beta of 0.63. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $87.17. The business has a fifty day simple moving average of $75.20 and a 200-day simple moving average of $76.80.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.84 by $0.06. The business had revenue of $6.24 billion for the quarter, compared to analyst estimates of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.70 EPS. On average, analysts forecast that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s dividend payout ratio is 820.51%.

Analysts Set New Price Targets

OMC has been the subject of several research analyst reports. Argus upgraded Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Rothschild & Co Redburn started coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. The Goldman Sachs Group started coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price target for the company. Finally, UBS Group raised their price objective on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $99.00.

Omnicom Group Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.