Millennium Management LLC Has $31.35 Million Stock Position in Omnicom Group Inc. $OMC

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 reduced its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 378,143 shares of the business services provider's stock after selling 67,055 shares during the quarter. Millennium Management LLC owned about 0.19% of Omnicom Group worth $31,352,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. bought a new position in Omnicom Group in the 1st quarter valued at about $67,637,000. Gotham Asset Management LLC raised its holdings in Omnicom Group by 11.0% in the 1st quarter. Gotham Asset Management LLC now owns 253,963 shares of the business services provider's stock valued at $21,056,000 after acquiring an additional 25,222 shares during the period. AQR Capital Management LLC raised its holdings in Omnicom Group by 1,836.5% in the 1st quarter. AQR Capital Management LLC now owns 1,086,752 shares of the business services provider's stock valued at $89,114,000 after acquiring an additional 1,030,633 shares during the period. Perbak Capital Partners LLP bought a new position in Omnicom Group in the 1st quarter valued at about $351,000. Finally, TIG Advisors LLC increased its holdings in shares of Omnicom Group by 4.5% during the first quarter. TIG Advisors LLC now owns 121,797 shares of the business services provider's stock worth $10,098,000 after purchasing an additional 5,218 shares during the period. 91.97% of the stock is owned by institutional investors.

Omnicom Group Price Performance

Shares of NYSE OMC traded up $0.10 during trading hours on Tuesday, hitting $76.95. 2,342,920 shares of the stock were exchanged, compared to its average volume of 3,049,714. 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 company has a market cap of $14.91 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. The company's fifty day simple moving average is $75.42 and its two-hundred day simple moving average is $75.48. 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 posted its quarterly 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. 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%. The firm's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.95 EPS. On average, sell-side analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently declared 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. 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 currently 40.17%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wells Fargo & Company lowered 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. Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. JPMorgan Chase & Co. lowered 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. 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 equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Omnicom Group presently has a consensus rating of "Moderate Buy" and a consensus 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.