Gotham Asset Management LLC Raises Holdings in Omnicom Group Inc. $OMC

Key Points

• Gotham Asset Management LLC increased its stake in Omnicom Group by 11.0% in Q1, now owning approximately 0.13% of the company valued at $21 million.
• Omnicom Group's recent earnings report showed earnings per share of $2.05, surpassing expectations, with revenues reaching $4.02 billion, a 4.2% increase from the previous year.
• The company announced a $0.70 quarterly dividend with an annualized yield of 3.6%, payable on October 10th to shareholders of record from September 2nd.

Gotham Asset Management LLC raised its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 11.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 253,963 shares of the business services provider's stock after purchasing an additional 25,222 shares during the period. Gotham Asset Management LLC owned about 0.13% of Omnicom Group worth $21,056,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Merit Financial Group LLC lifted its position in shares of Omnicom Group by 157.9% in the first quarter. Merit Financial Group LLC now owns 7,661 shares of the business services provider's stock valued at $635,000 after acquiring an additional 4,690 shares in the last quarter. Golden State Wealth Management LLC lifted its position in 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 buying an additional 343 shares in the last quarter. Fifth Third Bancorp lifted its position in Omnicom Group by 13.9% during the first quarter. Fifth Third Bancorp now owns 7,459 shares of the business services provider's stock worth $618,000 after buying an additional 913 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Omnicom Group during the first quarter worth approximately $1,357,000. Finally, Asset Management One Co. Ltd. lifted its position in Omnicom Group by 10.4% during the first quarter. Asset Management One Co. Ltd. now owns 81,474 shares of the business services provider's stock worth $6,755,000 after buying an additional 7,665 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company's stock.

Omnicom Group Stock Performance

OMC stock traded down $1.23 during trading on Tuesday, hitting $77.71. The company had a trading volume of 2,789,633 shares, compared to its average volume of 3,621,875. 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 firm has a 50-day moving average price of $75.10 and a 200-day moving average price of $75.68. Omnicom Group Inc. has a 1-year low of $68.37 and a 1-year high of $107.00. The firm has a market cap of $15.05 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.58 and a beta of 0.97.

Omnicom Group (NYSE:OMC - Get Free Report) last released its 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. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The company had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.95 billion. During the same quarter in the previous year, the firm posted $1.95 EPS. The firm's quarterly revenue was up 4.2% on a year-over-year basis. On average, 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 will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a yield of 3.6%. Omnicom Group's dividend payout ratio is presently 40.17%.

Analysts Set New Price Targets

OMC has been the topic of a number of analyst reports. Barclays downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. Bank of America upgraded Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective on the stock in a research report on Monday, June 23rd. JPMorgan Chase & Co. reduced their price objective on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Finally, Wells Fargo & Company cut their target price on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 16th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $94.43.

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.