Hsbc Holdings PLC Has $52.31 Million Stock Holdings in Omnicom Group Inc. $OMC

Key Points

• Hsbc Holdings PLC cut its Omnicom Group stake by 37.3% in the first quarter, selling 412,516 shares and ending with 693,921 shares worth about $52.3 million.
• Omnicom reported better-than-expected quarterly results, with EPS of $1.90 versus $1.84 expected and revenue of $6.24 billion versus $5.85 billion expected.
• The company declared a quarterly dividend of $0.80 per share, implying an annualized yield of about 3.9%, while analysts currently rate the stock a consensus Hold with an average price target of $99.38.

Hsbc Holdings PLC lowered its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 37.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 693,921 shares of the business services provider's stock after selling 412,516 shares during the quarter. Hsbc Holdings PLC owned 0.24% of Omnicom Group worth $52,313,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Leonard Rickey Investment Advisors P.L.L.C. boosted its stake in shares of Omnicom Group by 4.1% during the 4th quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 3,775 shares of the business services provider's stock worth $305,000 after buying an additional 147 shares during the last quarter. Wakefield Asset Management LLLP increased its position in shares of Omnicom Group by 2.6% in the fourth quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider's stock valued at $477,000 after acquiring an additional 149 shares during the last quarter. Caldwell Trust Co raised its holdings in Omnicom Group by 29.0% during the first quarter. Caldwell Trust Co now owns 662 shares of the business services provider's stock worth $50,000 after acquiring an additional 149 shares in the last quarter. SJS Investment Consulting Inc. raised its holdings in Omnicom Group by 39.1% during the first quarter. SJS Investment Consulting Inc. now owns 544 shares of the business services provider's stock worth $41,000 after acquiring an additional 153 shares in the last quarter. Finally, Hartford Financial Management Inc. boosted its position in Omnicom Group by 27.0% during the fourth quarter. Hartford Financial Management Inc. now owns 762 shares of the business services provider's stock valued at $62,000 after purchasing an additional 162 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Omnicom Group Stock Up 0.8%

OMC stock opened at $82.40 on Tuesday. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17. The business's 50 day simple moving average is $75.93 and its 200 day simple moving average is $76.80. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $23.48 billion, a PE ratio of 211.28, a PEG ratio of 0.49 and a beta of 0.63.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. The firm had revenue of $6.24 billion during the quarter, compared to analysts' expectations of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The company's quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.70 EPS. As a group, research analysts anticipate that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group Dividend Announcement

The company 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 $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group's dividend payout ratio (DPR) is currently 820.51%.

Analysts Set New Price Targets

OMC has been the subject of a number of analyst reports. Rothschild & Co Redburn initiated coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a "neutral" rating and a $89.00 price target for the company. Argus upgraded Omnicom Group to a "hold" rating in a research note on Thursday, March 26th. The Goldman Sachs Group initiated coverage on Omnicom Group in a report on Wednesday, June 3rd. They issued a "buy" rating and a $146.00 price objective for the company. Citigroup decreased their target price on shares of Omnicom Group from $115.00 to $105.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Omnicom Group in a report on Friday, May 22nd. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Omnicom Group has a consensus rating of "Hold" and an average price target of $99.38.

Omnicom Group Company Profile

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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