Omnicom Group Inc. $OMC Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Omnicom Group by 5.8%, selling 17,145 shares, and now holds 278,842 shares valued at approximately $20.06 million.
• Omnicom Group reported a strong quarterly performance with $2.05 EPS, exceeding expectations by $0.03, and revenue of $4.02 billion, surpassing estimates of $3.95 billion.
• Barclays downgraded Omnicom Group's rating from "overweight" to "equal weight", while Wells Fargo upgraded it from "equal weight" to "overweight", with differing target prices reflecting mixed analyst sentiment.

TD Asset Management Inc reduced its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 278,842 shares of the business services provider's stock after selling 17,145 shares during the period. TD Asset Management Inc owned 0.14% of Omnicom Group worth $20,060,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Robinson Value Management Ltd. grew its stake in shares of Omnicom Group by 0.4% in the 1st quarter. Robinson Value Management Ltd. now owns 34,217 shares of the business services provider's stock valued at $2,837,000 after buying an additional 139 shares during the period. Financial Advisors Network Inc. grew its position in Omnicom Group by 6.1% in the first quarter. Financial Advisors Network Inc. now owns 2,756 shares of the business services provider's stock worth $228,000 after acquiring an additional 159 shares during the period. Linden Thomas Advisory Services LLC increased its stake in Omnicom Group by 0.8% during the first quarter. Linden Thomas Advisory Services LLC now owns 22,126 shares of the business services provider's stock worth $1,834,000 after acquiring an additional 165 shares during the last quarter. Harbour Investments Inc. raised its position in Omnicom Group by 39.1% in the first quarter. Harbour Investments Inc. now owns 616 shares of the business services provider's stock valued at $51,000 after purchasing an additional 173 shares during the period. Finally, Horizon Investments LLC raised its position in Omnicom Group by 6.6% in the first quarter. Horizon Investments LLC now owns 2,859 shares of the business services provider's stock valued at $237,000 after purchasing an additional 176 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $77.48 on Friday. The stock has a market capitalization of $15.01 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 1.51 and a beta of 0.96. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80. The business has a 50-day moving average of $77.40 and a 200 day moving average of $74.92. 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 issued 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 analysts' expectations of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The business's quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.95 earnings per share. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on OMC shares. Barclays cut Omnicom Group from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. Wells Fargo & Company raised shares of Omnicom Group from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Bank of America raised shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price target on the stock in a research note on Monday, June 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Omnicom Group in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. cut their target price 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. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Omnicom Group presently has an average rating of "Moderate Buy" and an average target price of $96.29.

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.

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