Freestone Grove Partners LP Purchases New Holdings in Omnicom Group Inc. $OMC

Key Points

• Freestone Grove Partners acquired 11,652 Omnicom shares worth approximately $849,000 in the second quarter. Institutional investors collectively own 91.97% of OMC.
• Omnicom reported quarterly revenue of $6.56 billion, up 63.4% year over year and above estimates, while EPS of $2.65 narrowly missed expectations. Shares opened at $88.32, near their 52-week high.
• The company declared a quarterly dividend of $0.80 per share, representing a 3.6% yield, while analysts maintain a consensus “Hold” rating with an average price target of $99.

Freestone Grove Partners LP acquired a new position in Omnicom Group Inc. (NYSE:OMC - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 11,652 shares of the business services provider's stock, valued at approximately $849,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Activest Wealth Management boosted its position in shares of Omnicom Group by 2,960.0% in the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider's stock worth $25,000 after buying an additional 296 shares during the period. Keating Financial Advisory Services Inc. purchased a new position in shares of Omnicom Group during the second quarter valued at $25,000. Elyxium Wealth LLC purchased a new position in shares of Omnicom Group during the fourth quarter valued at $26,000. Legacy Wealth Managment LLC ID raised its position in Omnicom Group by 111.4% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider's stock valued at $27,000 after buying an additional 176 shares during the period. Finally, EFG International AG acquired a new position in Omnicom Group during the fourth quarter valued at $28,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $88.32 on Friday. The firm has a market cap of $24.23 billion, a price-to-earnings ratio of 76.14, a P/E/G ratio of 0.59 and a beta of 0.64. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year 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 business has a fifty day simple moving average of $81.71 and a 200 day simple moving average of $78.19.

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

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, September 18th. Omnicom Group's payout ratio is currently 275.86%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OMC. Citigroup decreased their price objective on Omnicom Group from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Weiss Ratings upgraded Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, July 30th. The Goldman Sachs Group assumed coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They issued a "buy" rating and a $146.00 price target for the company. Zacks Research cut shares of Omnicom Group from a "hold" rating to a "strong sell" rating in a report on Thursday, July 30th. Finally, Rothschild & Co Redburn began coverage on shares of Omnicom Group in a report on Thursday, May 28th. They set a "neutral" rating and a $89.00 price target for the company. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Omnicom Group currently has a consensus rating of "Hold" and an average target price of $99.00.

Insider Activity at Omnicom Group

In related news, Director Linda Johnson Rice sold 1,385 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the sale, the director owned 11,719 shares of the company's stock, valued at approximately $1,039,826.87. The trade was a 10.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company's stock.

About Omnicom Group

Omnicom Group Inc NYSE: OMC is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company's primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.

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