Omnicom Group Inc. $OMC Position Trimmed by Kiker Wealth Management LLC

Key Points

• Kiker Wealth Management LLC significantly reduced its stake in Omnicom Group Inc. by 94.2% during the second quarter, holding only 542 shares valued at $39,000 at the end of the quarter.
• Analysts have varied opinions on the stock, with five analysts rating it a Buy and others adjusting target prices, including JPMorgan lowering it from $104.00 to $96.00.
• Omnicom Group recently announced a quarterly dividend of $0.70 per share, yielding approximately 3.6%, with a payout ratio of 40.17%.

Kiker Wealth Management LLC lessened its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 94.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 542 shares of the business services provider's stock after selling 8,868 shares during the quarter. Kiker Wealth Management LLC's holdings in Omnicom Group were worth $39,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp grew its stake in shares of Omnicom Group by 13.9% in the 1st quarter. Fifth Third Bancorp now owns 7,459 shares of the business services provider's stock valued at $618,000 after buying an additional 913 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Omnicom Group by 80.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,040 shares of the business services provider's stock valued at $2,076,000 after buying an additional 11,149 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Omnicom Group by 424.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 110,396 shares of the business services provider's stock valued at $9,153,000 after buying an additional 89,332 shares in the last quarter. Sowell Financial Services LLC bought a new stake in shares of Omnicom Group in the 1st quarter valued at approximately $543,000. Finally, Grove Bank & Trust grew its stake in shares of Omnicom Group by 1,136.4% in the 1st quarter. Grove Bank & Trust now owns 1,088 shares of the business services provider's stock valued at $90,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company's stock.

Analyst Ratings Changes

OMC has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price target on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Weiss Ratings reissued a "hold (c)" rating on shares of Omnicom Group in a research note on Wednesday, October 8th. Barclays cut Omnicom Group from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $105.00 to $80.00 in a research note 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 research report on Monday, June 23rd. Finally, Wells Fargo & Company raised Omnicom Group from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $78.00 to $91.00 in a research report on Tuesday, September 23rd. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.29.

Omnicom Group Stock Up 2.7%

Shares of Omnicom Group stock opened at $78.58 on Wednesday. The stock has a market capitalization of $15.22 billion, a P/E ratio of 11.27, a PEG ratio of 1.49 and a beta of 0.96. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The stock has a 50 day moving average price of $77.09 and a two-hundred day moving average price of $74.94. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.03. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $1.95 earnings per share. Equities analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.6%. The ex-dividend date was Tuesday, September 2nd. Omnicom Group's dividend payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.