Caption Management LLC Takes Position in Omnicom Group Inc. $OMC

Key Points

• Caption Management LLC has acquired 3,500 shares of Omnicom Group Inc., valued at approximately $290,000, during the first quarter of 2023.
• Analysts have mixed ratings on Omnicom Group, with target prices ranging from $78.00 to $96.00, while the stock has an average rating of "Moderate Buy" with a consensus target of \strong>$94.43.
• Omnicom Group announced a quarterly dividend of $0.70 per share, with the ex-dividend date on September 2nd, representing an annualized yield of 3.6%.

Caption Management LLC bought a new position in Omnicom Group Inc. (NYSE:OMC - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 3,500 shares of the business services provider's stock, valued at approximately $290,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OMC. Vanguard Group Inc. raised its position in 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 purchasing an additional 424,936 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Omnicom Group by 20.2% during the 1st 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 purchasing an additional 1,205,165 shares during the last quarter. Boston Partners raised its holdings in Omnicom Group by 18.5% during the 1st 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. Baird Financial Group Inc. raised its holdings in Omnicom Group by 44.5% during the 1st quarter. Baird Financial Group Inc. now owns 3,896,270 shares of the business services provider's stock valued at $323,040,000 after buying an additional 1,199,725 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position 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 buying an additional 49,801 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company's stock.

Analyst Upgrades and Downgrades

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

Omnicom Group Trading Up 1.1%

OMC stock traded up $0.87 during mid-day trading on Friday, reaching $79.41. The company had a trading volume of 2,729,854 shares, compared to its average volume of 3,122,321. The company has a market capitalization of $15.38 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.58 and a beta of 0.97. The firm has a 50 day moving average of $74.96 and a 200 day moving average of $75.70. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $107.00. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share for the quarter, beating the consensus estimate 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 company's revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.95 earnings per share. On average, equities analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a yield of 3.5%. Omnicom Group's dividend payout ratio (DPR) is 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.