152,072 Shares in Omnicom Group Inc. $OMC Acquired by Korea Investment CORP

Key Points

• Korea Investment CORP acquired 152,072 Omnicom Group shares worth approximately $11.1 million in the second quarter, while institutional investors and hedge funds collectively own 91.97% of OMC.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $99.00. Recent targets range from $89 to $100, alongside ratings spanning strong sell to buy.
• Omnicom reported second-quarter revenue of $6.56 billion, up 63.4% year over year, though EPS of $2.65 slightly missed estimates. The company declared a quarterly dividend of $0.80 per share, implying a 3.6% annualized yield.

Korea Investment CORP bought a new position in Omnicom Group Inc. (NYSE:OMC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 152,072 shares of the business services provider's stock, valued at approximately $11,075,000. Korea Investment CORP owned 0.06% of Omnicom Group at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Resona Asset Management Co. Ltd. raised its position in shares of Omnicom Group by 55.4% during the fourth quarter. Resona Asset Management Co. Ltd. now owns 98,842 shares of the business services provider's stock worth $7,976,000 after purchasing an additional 35,247 shares during the period. Generali Asset Management SPA SGR increased its stake in Omnicom Group by 346.0% in the 4th quarter. Generali Asset Management SPA SGR now owns 20,580 shares of the business services provider's stock worth $1,662,000 after purchasing an additional 15,966 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Omnicom Group by 70.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 674,065 shares of the business services provider's stock worth $54,815,000 after buying an additional 277,665 shares during the period. Orca Investment Management LLC purchased a new stake in Omnicom Group during the second quarter valued at about $2,023,000. Finally, New York State Teachers Retirement System increased its position in shares of Omnicom Group by 70.2% in the fourth quarter. New York State Teachers Retirement System now owns 251,174 shares of the business services provider's stock worth $20,282,000 after acquiring an additional 103,615 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OMC has been the subject of a number of recent analyst reports. Zacks Research lowered shares of Omnicom Group from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 30th. Rothschild & Co Redburn began coverage on Omnicom Group in a research report on Thursday, May 28th. They issued a "neutral" rating and a $89.00 target price for the company. Citigroup dropped their price target on Omnicom Group from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Wells Fargo & Company raised their price objective on Omnicom Group from $91.00 to $93.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Finally, Weiss Ratings raised Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Omnicom Group presently has a consensus rating of "Hold" and an average target price of $99.00.

Omnicom Group Trading Up 1.6%

Omnicom Group stock opened at $88.94 on Tuesday. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.57. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The stock has a market cap of $24.40 billion, a P/E ratio of 76.68, a P/E/G ratio of 0.58 and a beta of 0.64. The company's fifty day simple moving average is $80.59 and its 200-day simple moving average is $77.72.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $6.56 billion for the quarter, compared to analysts' expectations of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.Omnicom Group's revenue was up 63.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.05 earnings per share. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders 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 dividend yield of 3.6%. Omnicom Group's dividend payout ratio (DPR) is 275.86%.

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.

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