Omnicom Group Inc. $OMC Shares Sold by Morningstar Investment Management LLC

Key Points

• Morningstar Investment Management cut its Omnicom Group stake by 66.4% in the first quarter, selling 85,363 shares and leaving it with 43,233 shares valued at about $3.26 million.
• Omnicom reported better-than-expected quarterly results, with EPS of $1.90 versus $1.84 expected and revenue of $6.24 billion, well above analyst estimates.
• The company also announced a quarterly dividend of $0.80 per share, or $3.20 annualized, for a 4.0% yield; analysts currently rate the stock a consensus Hold with a $99.38 price target.

Morningstar Investment Management LLC decreased its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 66.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,233 shares of the business services provider's stock after selling 85,363 shares during the quarter. Morningstar Investment Management LLC's holdings in Omnicom Group were worth $3,256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Activest Wealth Management boosted its position in Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider's stock worth $25,000 after purchasing an additional 296 shares in the last quarter. Bayforest Capital Ltd acquired a new position in shares of Omnicom Group during the 4th quarter worth approximately $26,000. Elyxium Wealth LLC purchased a new position in shares of Omnicom Group during the 4th quarter valued at approximately $26,000. Legacy Wealth Managment LLC ID lifted its position in shares of Omnicom Group by 111.4% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider's stock valued at $27,000 after buying an additional 176 shares in the last quarter. Finally, EFG International AG acquired a new stake in Omnicom Group in the 4th quarter valued at $28,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Stock Up 2.3%

NYSE OMC opened at $79.70 on Friday. The business's fifty day simple moving average is $76.40 and its 200-day simple moving average is $76.77. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm has a market cap of $22.72 billion, a PE ratio of 204.37, a P/E/G ratio of 0.48 and a beta of 0.63. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $87.17.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The firm had revenue of $6.24 billion during the quarter, compared to analysts' expectations of $5.85 billion. During the same period last year, the business earned $1.70 earnings per share. Omnicom Group's revenue was up 69.2% compared to the same quarter last year. As a group, equities analysts anticipate that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be issued a $0.80 dividend. The ex-dividend date is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 4.0%. Omnicom Group's dividend payout ratio is currently 820.51%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of Omnicom Group in a research report on Friday, May 22nd. The Goldman Sachs Group began coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They issued a "buy" rating and a $146.00 price target on the stock. Rothschild & Co Redburn assumed coverage on Omnicom Group in a report on Thursday, May 28th. They issued a "neutral" rating and a $89.00 price objective on the stock. Morgan Stanley increased their target price on Omnicom Group from $82.00 to $83.00 and gave the company an "equal weight" rating in a report on Friday, May 1st. Finally, Citigroup decreased their target price on Omnicom Group from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $99.38.

Omnicom Group Profile

Omnicom Group Inc NYSE: OMC is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company's primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.

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