Morningstar Investment Services LLC Has $2.33 Million Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Morningstar Investment Services LLC decreased its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 52.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 28,135 shares of the business services provider's stock after selling 31,176 shares during the period. Morningstar Investment Services LLC's holdings in Omnicom Group were worth $2,333,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Johnson Financial Group Inc. raised its stake in Omnicom Group by 153.8% in the 4th quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock worth $29,000 after purchasing an additional 200 shares in the last quarter. Versant Capital Management Inc raised its stake in Omnicom Group by 45.7% in the 1st 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 in the last quarter. CoreCap Advisors LLC raised its stake in Omnicom Group by 708.8% in the 4th quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock worth $40,000 after purchasing an additional 404 shares in the last quarter. Whittier Trust Co. raised its stake in Omnicom Group by 194.6% in the 4th quarter. Whittier Trust Co. now owns 489 shares of the business services provider's stock worth $42,000 after purchasing an additional 323 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in Omnicom Group by 230.2% in the 1st 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 in the last quarter. Institutional investors own 91.97% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on OMC shares. Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Wells Fargo & Company dropped their price objective on shares of Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a research note on Wednesday. Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective for the company in a research note on Monday, June 23rd. Citigroup reiterated a "buy" rating and issued a $103.00 price objective on shares of Omnicom Group in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Omnicom Group currently has an average rating of "Moderate Buy" and a consensus price target of $94.43.

Omnicom Group Price Performance

Shares of NYSE:OMC traded up $0.22 during midday trading on Friday, hitting $71.08. The stock had a trading volume of 4,789,196 shares, compared to its average volume of 2,744,942. The company's 50-day moving average price is $72.86 and its 200-day moving average price is $77.98. The company has a market capitalization of $13.77 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 1.41 and a beta of 0.92. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $107.00.

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

Omnicom Group Announces Dividend

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 3.94%. The ex-dividend date of this dividend is Tuesday, September 2nd. Omnicom Group's dividend payout ratio is 40.17%.

Omnicom Group Company Profile

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.