Hardy Reed LLC Purchases Shares of 9,513 Omnicom Group Inc. $OMC

Hardy Reed LLC acquired a new position in Omnicom Group Inc. (NYSE:OMC) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,513 shares of the business services provider’s stock, valued at approximately $693,000.

Several other institutional investors also recently modified their holdings of OMC. Wakefield Asset Management LLLP grew its holdings in Omnicom Group by 2.6% during the 4th quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider’s stock worth $477,000 after acquiring an additional 149 shares during the period. Caldwell Trust Co lifted its stake in shares of Omnicom Group by 29.0% in the 1st quarter. Caldwell Trust Co now owns 662 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 149 shares during the period. SJS Investment Consulting Inc. lifted its stake in shares of Omnicom Group by 39.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 544 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 153 shares during the period. Blake Schutter Theil Wealth Advisors LLC boosted its position in shares of Omnicom Group by 3.5% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 4,897 shares of the business services provider’s stock valued at $395,000 after purchasing an additional 167 shares in the last quarter. Finally, Binnacle Investments Inc boosted its position in shares of Omnicom Group by 17.7% during the 2nd quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider’s stock valued at $81,000 after purchasing an additional 169 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $87.45 on Friday. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $88.55. The firm has a market capitalization of $23.99 billion, a price-to-earnings ratio of 75.39, a PEG ratio of 0.59 and a beta of 0.64. The business has a 50-day simple moving average of $79.20 and a 200 day simple moving average of $77.24. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The firm had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter in the previous year, the company posted $2.05 EPS. The firm’s revenue was up 63.4% on a year-over-year basis. On average, research analysts anticipate that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s dividend payout ratio is presently 275.86%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on OMC shares. Zacks Research downgraded Omnicom Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Rothschild & Co Redburn initiated coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Finally, Wells Fargo & Company boosted their target price on shares of Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $99.00.

Omnicom Group Company 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.