Martin Capital Partners LLC Invests $549,000 in Omnicom Group Inc. $OMC

Key Points

• Martin Capital Partners LLC acquired 7,637 shares of Omnicom Group Inc., investing approximately $549,000 during the second quarter of 2023, according to SEC filings.
• Analysts have mixed ratings on Omnicom Group, with a consensus price target of $94.43 and recent adjustments including a downgrade by Barclays and a reduced target by JPMorgan Chase.
• Omnicom Group announced a quarterly dividend of $0.70 per share, reflecting an annual yield of 3.6%, with the payment date set for October 10, 2023.

Martin Capital Partners LLC bought a new position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,637 shares of the business services provider's stock, valued at approximately $549,000.

Other hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT acquired a new stake in shares of Omnicom Group during the first quarter worth $34,000. Gen Wealth Partners Inc acquired a new stake in shares of Omnicom Group during the first quarter worth $36,000. Versant Capital Management Inc lifted its holdings in shares of Omnicom Group by 45.7% during the first quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock worth $38,000 after purchasing an additional 143 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Omnicom Group by 230.2% during the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock worth $41,000 after purchasing an additional 343 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Omnicom Group during the first quarter worth $43,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Barclays downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $105.00 to $80.00 in a report on Wednesday, June 25th. Bank of America raised Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price for the company in a report on Monday, June 23rd. Finally, Wells Fargo & Company reduced their target price on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a report on Wednesday, July 16th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.43.

Omnicom Group Trading Down 0.9%

NYSE:OMC opened at $77.14 on Monday. The company has a market capitalization of $14.94 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 1.53 and a beta of 0.97. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week high of $107.00. The stock has a fifty day simple moving average of $75.31 and a 200-day simple moving average of $75.51.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.03. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.95 billion. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The business's revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.95 EPS. On average, equities research analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group's dividend payout ratio (DPR) is currently 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.

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