Jupiter Topco LLC Makes New $2.43 Million Investment in Omnicom Group Inc. $OMC

Key Points

• Jupiter Topco LLC acquired 33,400 Omnicom shares during the second quarter, valued at approximately $2.43 million. Institutional investors and hedge funds collectively own 91.97% of OMC.
• Omnicom reported quarterly revenue of $6.56 billion, up 63.4% year over year and above estimates, although earnings per share of $2.65 slightly missed forecasts.
• The company declared a quarterly dividend of $0.80 per share, representing an annualized payout of $3.20 and a 3.9% yield. Analysts maintain a consensus “Hold” rating with an average price target of $99.

Jupiter Topco LLC acquired a new stake in Omnicom Group Inc. (NYSE:OMC - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 33,400 shares of the business services provider's stock, valued at approximately $2,432,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Omnicom Group during the second quarter worth $2,082,476,000. State Street Corp raised its stake in Omnicom Group by 40.4% in the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider's stock valued at $1,933,891,000 after buying an additional 6,813,441 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Omnicom Group in the second quarter valued at $914,156,000. Geode Capital Management LLC lifted its holdings in Omnicom Group by 57.1% during the 4th quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider's stock worth $690,327,000 after buying an additional 3,117,188 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in Omnicom Group by 0.5% during the 4th quarter. First Eagle Investment Management LLC now owns 6,352,034 shares of the business services provider's stock worth $512,927,000 after buying an additional 33,557 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Stock Performance

Shares of OMC stock opened at $81.76 on Thursday. The stock's 50-day moving average is $82.42 and its two-hundred day moving average is $78.56. The firm has a market cap of $22.43 billion, a price-to-earnings ratio of 70.48, a PEG ratio of 0.74 and a beta of 0.65. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $89.57. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92.

Omnicom Group (NYSE:OMC - Get Free Report) last posted 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). The firm had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The firm's revenue for the quarter was up 63.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 EPS. Analysts predict that Omnicom Group Inc. will post 10.35 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 annualized dividend and a yield of 3.9%. Omnicom Group's payout ratio is 275.86%.

Insider Buying and Selling

In other Omnicom Group 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 in the company, valued at approximately $1,039,826.87. The trade was a 10.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on OMC. Weiss Ratings upgraded Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, July 30th. Citigroup decreased their target price on Omnicom Group from $105.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Wells Fargo & Company upped their price target on Omnicom Group from $91.00 to $93.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Zacks Research lowered shares of Omnicom Group from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 30th. Finally, The Goldman Sachs Group assumed coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They set a "buy" rating and a $146.00 price objective on the stock. Four investment 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. According to MarketBeat, Omnicom Group has a consensus rating of "Hold" and an average target price of $99.00.

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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