California State Teachers Retirement System Has $33.80 Million Stock Holdings in Omnicom Group Inc. $OMC

California State Teachers Retirement System lowered its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 12.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 464,152 shares of the business services provider's stock after selling 68,156 shares during the quarter. California State Teachers Retirement System owned about 0.17% of Omnicom Group worth $33,804,190 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Pure Financial Advisors LLC raised its stake in Omnicom Group by 3.1% in the second quarter. Pure Financial Advisors LLC now owns 4,464 shares of the business services provider's stock worth $325,000 after buying an additional 135 shares in the last quarter. Tranquilli Financial Advisor LLC raised its holdings in shares of Omnicom Group by 2.0% during the second quarter. Tranquilli Financial Advisor LLC now owns 7,610 shares of the business services provider's stock worth $554,000 after purchasing an additional 148 shares during the last quarter. Wakefield Asset Management LLLP raised its stake in Omnicom Group by 2.6% in the 4th quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider's stock valued at $477,000 after purchasing an additional 149 shares during the last quarter. Caldwell Trust Co raised 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 acquiring an additional 149 shares during the period. Finally, SJS Investment Consulting Inc. lifted its holdings in Omnicom Group by 39.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 544 shares of the business services provider's stock worth $41,000 after buying an additional 153 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. The Goldman Sachs Group began coverage on Omnicom Group in a report on Wednesday, June 3rd. They issued a "buy" rating and a $146.00 target price on the stock. Citigroup reduced their price target 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. Zacks Research downgraded Omnicom Group from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company increased 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 analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $99.00.

Insider Buying and Selling at Omnicom Group

In other news, Director Linda Rice sold 1,385 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $88.73, for a total value of $122,891.05. Following the transaction, the director directly owned 11,719 shares of the company's stock, valued at $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.

Omnicom Group Price Performance

OMC stock traded down $0.19 during mid-day trading on Tuesday, reaching $80.88. The company's stock had a trading volume of 783,475 shares, compared to its average volume of 4,190,199. The stock has a market cap of $22.19 billion, a PE ratio of 69.72, a P/E/G ratio of 0.68 and a beta of 0.65. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $89.57. 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 company's 50 day moving average is $83.26 and its two-hundred day moving average is $78.88.

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

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group's payout ratio is currently 275.86%.

Omnicom Group Company Profile

Omnicom Group Inc NYSE: OMC is a global marketing and communications holding company. Through a network of agencies and specialized businesses, it provides advertising, branding, media planning and buying, public relations, customer relationship management, digital marketing, experiential marketing and healthcare communications services.

Omnicom's agency brands have included BBDO Worldwide, DDB Worldwide, TBWA\Worldwide, Omnicom Media Group, FleishmanHillard and Ketchum. These businesses serve clients across industries, including consumer products, healthcare, technology, financial services, automotive and telecommunications, helping organizations develop brand strategies, create campaigns and engage audiences through traditional and digital channels.

Omnicom was formed in 1986 through the merger of advertising companies BBDO, Doyle Dane Bernbach and Needham Harper Worldwide.

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