Kendall Capital Management Invests $9.27 Million in Omnicom Group Inc. $OMC

Kendall Capital Management bought a new position in Omnicom Group Inc. (NYSE:OMC) during the 2nd quarter, Holdings Channel reports. The fund bought 127,322 shares of the business services provider’s stock, valued at approximately $9,273,000. Omnicom Group accounts for about 1.5% of Kendall Capital Management’s holdings, making the stock its 12th largest position.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in Omnicom Group by 82.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider’s stock valued at $138,000 after purchasing an additional 869 shares during the last quarter. Gamco Investors INC. ET AL bought a new stake in shares of Omnicom Group in the 2nd quarter worth approximately $241,000. Gabelli Funds LLC bought a new stake in shares of Omnicom Group in the 2nd quarter worth approximately $1,061,000. Daiwa Securities Group Inc. increased its stake in shares of Omnicom Group by 5.3% during the second quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider’s stock valued at $2,113,000 after buying an additional 1,482 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Omnicom Group by 14.1% during the second quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock valued at $25,990,000 after buying an additional 44,746 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Up 0.9%

Omnicom Group stock opened at $87.87 on Friday. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $88.55. The stock has a fifty day simple moving average of $80.34 and a two-hundred day simple moving average of $77.57. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The firm has a market cap of $24.11 billion, a price-to-earnings ratio of 75.75, a PEG ratio of 0.58 and a beta of 0.64.

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

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 3.6%. Omnicom Group’s dividend payout ratio is presently 275.86%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. The Goldman Sachs Group began coverage on Omnicom Group in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price target for the company. Citigroup reduced their price objective on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Morgan Stanley raised their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Zacks Research lowered shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Four investment 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. Based on data from MarketBeat.com, Omnicom Group has an average rating of “Hold” and an average target price of $99.00.

About Omnicom Group

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.