KBC Group NV Has $3.77 Million Position in Omnicom Group Inc. $OMC

Key Points

• KBC Group NV cut its Omnicom Group stake by 66.6% in the first quarter, selling 99,640 shares and ending with 50,063 shares valued at about $3.77 million.
• Omnicom reported better-than-expected quarterly results, posting EPS of $1.90 versus $1.84 expected and revenue of $6.24 billion versus $5.85 billion expected, while revenue rose 69.2% year over year.
• The company declared a quarterly dividend of $0.80 per share, implying an annualized yield of about 4.1%; meanwhile, analysts currently rate the stock a consensus Hold with an average target price of $99.38.

KBC Group NV lessened its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 66.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,063 shares of the business services provider's stock after selling 99,640 shares during the period. KBC Group NV's holdings in Omnicom Group were worth $3,770,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of OMC. Vanguard Group Inc. lifted its stake in Omnicom Group by 64.2% in the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider's stock valued at $3,143,930,000 after purchasing an additional 15,220,444 shares during the last quarter. State Street Corp increased its position in Omnicom Group by 40.4% during the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider's stock worth $1,933,891,000 after buying an additional 6,813,441 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Omnicom Group by 69.6% in the fourth quarter. Bank of New York Mellon Corp now owns 11,283,863 shares of the business services provider's stock valued at $911,172,000 after buying an additional 4,631,394 shares during the period. Wellington Management Group LLP raised its stake in Omnicom Group by 522.9% in the fourth quarter. Wellington Management Group LLP now owns 5,199,477 shares of the business services provider's stock valued at $419,858,000 after buying an additional 4,364,797 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Omnicom Group by 57.1% in the fourth quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider's stock valued at $690,327,000 after buying an additional 3,117,188 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Stock Performance

NYSE:OMC opened at $78.01 on Friday. The stock has a market cap of $22.23 billion, a P/E ratio of 200.02, a PEG ratio of 0.48 and a beta of 0.63. The stock has a 50 day simple moving average of $76.22 and a 200 day simple moving average of $76.75. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17.

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

Omnicom Group Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 4.1%. Omnicom Group's payout ratio is currently 820.51%.

Analyst Upgrades and Downgrades

OMC has been the subject of several research analyst reports. Rothschild & Co Redburn began coverage on Omnicom Group in a research note on Thursday, May 28th. They set a "neutral" rating and a $89.00 target price for the company. The Goldman Sachs Group started coverage on Omnicom Group in a report on Wednesday, June 3rd. They set a "buy" rating and a $146.00 price target for the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Omnicom Group in a research report on Friday, May 22nd. Citigroup reduced their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday, April 30th. Finally, Morgan Stanley upped their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the company an "equal weight" rating in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $99.38.

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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