Candriam S.C.A. Sells 7,896 Shares of Omnicom Group Inc. $OMC

Key Points

• Candriam S.C.A. reduced its stake in Omnicom Group Inc. by 11.0%, selling 7,896 shares, bringing its total holdings to 63,816 shares valued at approximately $5.29 million.
• Omnicom Group reported $2.05 earnings per share for its latest quarter, surpassing the consensus estimate of $2.02, and experienced a 4.2% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.70 per share, with an annualized yield of 3.6%, to be paid on October 10th.

Candriam S.C.A. lowered its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 11.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 63,816 shares of the business services provider's stock after selling 7,896 shares during the quarter. Candriam S.C.A.'s holdings in Omnicom Group were worth $5,291,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Omnicom Group by 1.8% during the first 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 increased 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 buying an additional 1,205,165 shares during the period. Boston Partners increased its stake in shares of Omnicom Group by 18.5% during the first quarter. Boston Partners now owns 4,882,041 shares of the business services provider's stock valued at $402,598,000 after buying an additional 762,871 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Omnicom Group by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,259,431 shares of the business services provider's stock valued at $270,235,000 after buying an additional 49,801 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Omnicom Group by 9.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,181,425 shares of the business services provider's stock valued at $263,700,000 after buying an additional 279,265 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

Shares of OMC stock opened at $77.4670 on Friday. The stock has a market cap of $15.01 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 1.54 and a beta of 0.94. The business's fifty day moving average is $73.24 and its 200 day moving average is $76.19. Omnicom Group Inc. has a twelve month low of $68.37 and a twelve month high of $107.00. 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 issued its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share for the quarter, topping 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 analysts' expectations of $3.95 billion. During the same period in the prior year, the firm earned $1.95 earnings per share. The firm's revenue for the quarter was up 4.2% on a year-over-year basis. Research analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

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 issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Omnicom Group's payout ratio is 40.17%.

Wall Street Analysts Forecast Growth

OMC has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their target price on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Bank of America raised Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a research note on Monday, June 23rd. Wells Fargo & Company reduced their price target on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 16th. Finally, Barclays cut Omnicom Group from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $94.43.

Omnicom Group Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.