Omnicom Group Inc. (NYSE:OMC) Shares Bought by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp has increased its stake in Omnicom Group Inc. by 17.8%, now owning 57,122 shares valued at approximately $4.74 million.
• Omnicom Group reported a Q2 earnings per share (EPS) of $2.05, exceeding estimates, with revenue of $4.02 billion and a net margin of 8.67%.
• The company recently declared a quarterly dividend of $0.70 per share, reflecting a 3.9% annualized yield and a payout ratio of 40.17%.

Mackenzie Financial Corp grew its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 17.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,122 shares of the business services provider's stock after purchasing an additional 8,625 shares during the quarter. Mackenzie Financial Corp's holdings in Omnicom Group were worth $4,736,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OMC. Norges Bank acquired a new stake in Omnicom Group during the fourth quarter worth approximately $23,163,000. Franklin Resources Inc. raised its holdings in Omnicom Group by 10.8% during the fourth quarter. Franklin Resources Inc. now owns 256,131 shares of the business services provider's stock worth $22,038,000 after purchasing an additional 25,063 shares in the last quarter. Geode Capital Management LLC raised its holdings in Omnicom Group by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,151,708 shares of the business services provider's stock worth $442,453,000 after purchasing an additional 51,148 shares in the last quarter. World Investment Advisors increased its holdings in shares of Omnicom Group by 17.8% in the 4th quarter. World Investment Advisors now owns 30,996 shares of the business services provider's stock valued at $2,667,000 after acquiring an additional 4,685 shares during the period. Finally, Pitcairn Co. increased its holdings in shares of Omnicom Group by 5.5% in the 4th quarter. Pitcairn Co. now owns 6,126 shares of the business services provider's stock valued at $527,000 after acquiring an additional 317 shares during the period. Institutional investors and hedge funds own 91.97% of the company's stock.

Omnicom Group Stock Performance

Shares of OMC opened at $71.11 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. The stock has a market capitalization of $13.78 billion, a P/E ratio of 10.20, a P/E/G ratio of 1.43 and a beta of 0.94. The company's fifty day moving average is $72.56 and its two-hundred day moving average is $77.32. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.03. The company had revenue of $4.02 billion for 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%. Omnicom Group's revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.95 EPS. On average, sell-side analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.9%. Omnicom Group's dividend payout ratio is 40.17%.

Wall Street Analysts Forecast Growth

OMC has been the topic of a number of recent research reports. Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $105.00 to $80.00 in a report on Wednesday, June 25th. Citigroup reaffirmed a "buy" rating and issued a $103.00 target price on shares of Omnicom Group in a report on Tuesday, April 15th. JPMorgan Chase & Co. cut their target price on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Wells Fargo & Company cut their target price on shares of Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 16th. Finally, Bank of America raised shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a report on Monday, June 23rd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Omnicom Group has an average rating of "Moderate Buy" and an average target price of $94.43.

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.

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