CCM Investment Group LLC Makes New Investment in Omnicom Group Inc. (NYSE:OMC)

Key Points

• CCM Investment Group LLC acquired 18,983 shares of Omnicom Group Inc., valued at approximately $1.5 million, marking a new position in the company during the first quarter.
• Omnicom Group reported a quarterly earnings per share of $2.05, exceeding the consensus estimate of $2.02 and showing a 4.2% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.70 per share, translating to a 3.8% dividend yield, with the payout ratio currently sitting at 40.17%.

CCM Investment Group LLC acquired a new stake in Omnicom Group Inc. (NYSE:OMC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,983 shares of the business services provider's stock, valued at approximately $1,523,000.

A number of other hedge funds also recently bought and sold shares of OMC. Johnson Financial Group Inc. boosted its holdings in Omnicom Group by 153.8% in the 4th quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Omnicom Group during the first quarter worth about $34,000. Versant Capital Management Inc lifted its position in shares of Omnicom Group by 45.7% during the first quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock worth $38,000 after purchasing an additional 143 shares in the last quarter. CoreCap Advisors LLC grew its position in shares of Omnicom Group by 708.8% during the fourth quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock worth $40,000 after buying an additional 404 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its position in shares of Omnicom Group by 230.2% during the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock worth $41,000 after buying an additional 343 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.

Omnicom Group Stock Performance

OMC stock traded down $0.85 during trading on Thursday, hitting $75.63. The company had a trading volume of 1,144,396 shares, compared to its average volume of 3,655,987. The firm has a market cap of $14.65 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 1.46 and a beta of 0.94. Omnicom Group Inc. has a 1-year low of $68.37 and a 1-year high of $107.00. The firm has a 50-day moving average price of $72.64 and a 200-day moving average price of $76.62. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.03. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The firm's revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.95 earnings per share. On average, analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group's dividend payout ratio is presently 40.17%.

Analysts Set New Price Targets

A number of brokerages have recently commented on OMC. Bank of America raised Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective for the company in a research report on Monday, June 23rd. Barclays lowered Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. JPMorgan Chase & Co. cut their target price on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Finally, Wells Fargo & Company cut their target price on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 16th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $94.43.

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.