Omnicom Group Inc. $OMC Shares Sold by Millennium Management LLC

Key Points

• Millennium Management LLC reduced its stake in Omnicom Group by 15.1%, selling 67,055 shares during the first quarter, while owning approximately $31.35 million worth of the company.
• Omnicom Group reported $2.05 EPS in its latest earnings report, exceeding the consensus estimate by $0.03 and showing a revenue growth of 4.2% year-over-year.
• The company declared a quarterly dividend of $0.70 per share, resulting in an annualized yield of 3.7%, with the ex-dividend date set for September 2nd.

Millennium Management LLC lowered its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 378,143 shares of the business services provider's stock after selling 67,055 shares during the period. Millennium Management LLC owned 0.19% of Omnicom Group worth $31,352,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OMC. Zions Bancorporation National Association UT bought a new position in Omnicom Group in the first quarter valued at $34,000. Gen Wealth Partners Inc bought a new position in Omnicom Group in the first quarter valued at $36,000. Versant Capital Management Inc increased its stake in Omnicom Group by 45.7% in the first quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock valued at $38,000 after acquiring an additional 143 shares during the last quarter. CoreCap Advisors LLC increased its stake in Omnicom Group by 708.8% in the fourth quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock valued at $40,000 after acquiring an additional 404 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its stake in Omnicom Group by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock valued at $41,000 after acquiring an additional 343 shares during the last quarter. Institutional investors own 91.97% of the company's stock.

Omnicom Group Stock Performance

Shares of NYSE OMC traded down $0.70 during midday trading on Friday, reaching $77.14. The company had a trading volume of 3,292,519 shares, compared to its average volume of 3,022,477. The business's 50-day simple moving average is $75.31 and its 200 day simple moving average is $75.61. The stock has a market cap of $14.94 billion, a P/E ratio of 11.07, a P/E/G ratio of 1.54 and a beta of 0.97. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97.

Omnicom Group (NYSE:OMC - Get Free Report) last issued 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 net margin of 8.67% and a return on equity of 33.62%. The firm had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.95 billion. During the same quarter last year, the company posted $1.95 earnings per share. The firm's revenue was up 4.2% compared to the same quarter last year. On average, analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd will be given a $0.70 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. Omnicom Group's dividend payout ratio (DPR) is 40.17%.

Analysts Set New Price Targets

Several research analysts have recently commented on OMC shares. Wells Fargo & Company decreased their price objective on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 16th. 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 report on Monday, June 23rd. Barclays downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. decreased their price objective on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Omnicom Group currently has a consensus rating of "Moderate Buy" and an average price target of $94.43.

Omnicom Group 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.