FORA Capital LLC Takes Position in Omnicom Group Inc. $OMC

Key Points

• FORA Capital LLC has acquired a new position in Omnicom Group, purchasing 39,697 shares valued at approximately $3.29 million during the 1st quarter.
• In recent earnings, Omnicom Group reported $2.05 EPS, beating estimates of $2.02, and had revenue of $4.02 billion, surpassing projections.
• The company declared a quarterly dividend of $0.70 per share, resulting in an annualized dividend yield of 3.5%, with the payout ratio at 40.17%.

FORA Capital LLC bought a new stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 39,697 shares of the business services provider's stock, valued at approximately $3,291,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Omnicom Group by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 23,466,754 shares of the business services provider's stock valued at $1,945,629,000 after buying an additional 424,936 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Omnicom Group by 20.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,178,226 shares of the business services provider's stock valued at $595,147,000 after acquiring an additional 1,205,165 shares in the last quarter. Boston Partners boosted its holdings in shares of Omnicom Group by 18.5% in the first quarter. Boston Partners now owns 4,882,041 shares of the business services provider's stock valued at $402,598,000 after purchasing an additional 762,871 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Omnicom Group by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,259,431 shares of the business services provider's stock worth $270,235,000 after purchasing an additional 49,801 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Omnicom Group by 9.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,181,425 shares of the business services provider's stock worth $263,700,000 after purchasing an additional 279,265 shares during the period. Hedge funds and other institutional investors own 91.97% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company dropped their price target 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. Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a report on Monday, June 23rd. Barclays lowered shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $105.00 to $80.00 in a report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.43.

Omnicom Group Stock Down 0.9%

Shares of OMC traded down $0.68 during midday trading on Thursday, hitting $77.78. 2,047,131 shares of the company's stock traded hands, compared to its average volume of 3,628,626. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $15.07 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 1.56 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's fifty day moving average is $74.14 and its 200-day moving average is $75.98.

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

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Omnicom Group's dividend payout ratio (DPR) is presently 40.17%.

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.