Omnicom Group Inc. $OMC Stock: Howard Capital Management LLC Grows Stake

Key Points

• Howard Capital Management increased its Omnicom stake by 250.8% in the third quarter, bringing its holdings to 82,884 shares valued at approximately $6.1 million. Institutional investors collectively own 91.97% of OMC.
• Analyst sentiment remains mixed but centered on “Hold”, with a consensus price target of $98.75. Four analysts rate the stock Buy, six Hold, and one Sell.
• Omnicom shares recently traded at $80.58, down 0.2%. The company’s latest quarterly revenue rose 63.4% year over year to $6.56 billion, though earnings of $2.65 per share slightly missed expectations.

Howard Capital Management LLC grew its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 250.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,884 shares of the business services provider's stock after purchasing an additional 59,259 shares during the quarter. Howard Capital Management LLC's holdings in Omnicom Group were worth $6,103,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Omnicom Group in the 2nd quarter worth about $2,082,476,000. Bank of New York Mellon Corp purchased a new position in shares of Omnicom Group during the second quarter worth approximately $914,156,000. Nykredit A S purchased a new position in shares of Omnicom Group during the second quarter worth approximately $126,937,000. Pacer Advisors Inc. increased its position in shares of Omnicom Group by 116.2% during the first quarter. Pacer Advisors Inc. now owns 2,847,575 shares of the business services provider's stock worth $214,451,000 after acquiring an additional 1,530,743 shares during the period. Finally, Deutsche Bank AG bought a new stake in shares of Omnicom Group during the second quarter valued at approximately $105,402,000. Institutional investors own 91.97% of the company's stock.

Insider Buying and Selling

In related news, Director Linda Rice sold 1,385 shares of the business's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the transaction, the director owned 11,719 shares of the company's stock, valued at $1,039,826.87. The trade was a 10.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OMC shares. Weiss Ratings upgraded Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, July 30th. Wells Fargo & Company raised their price objective on Omnicom Group from $91.00 to $93.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Barclays decreased their target price on Omnicom Group from $90.00 to $88.00 and set an "equal weight" rating for the company in a research report on Friday, October 9th. Zacks Research raised Omnicom Group from a "strong sell" rating to a "hold" rating in a research report on Monday, September 28th. Finally, Argus upgraded Omnicom Group to a "hold" rating in a report on Monday, September 14th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $98.75.

Omnicom Group Stock Down 0.2%

NYSE OMC traded down $0.14 during trading on Friday, reaching $80.58. 2,088,856 shares of the company's stock traded hands, compared to its average volume of 3,106,839. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $89.57. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. The firm has a market cap of $22.11 billion, a price-to-earnings ratio of 69.47, a price-to-earnings-growth ratio of 0.68 and a beta of 0.68. The company's 50 day simple moving average is $80.94 and its two-hundred day simple moving average is $78.31.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%. The business had revenue of $6.56 billion during the quarter, compared to analysts' expectations of $6.44 billion. During the same period in the previous year, the company posted $2.05 EPS. Omnicom Group's revenue for the quarter was up 63.4% on a year-over-year basis. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 10.50 EPS for the current fiscal year.

Omnicom Group Profile

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management and specialty marketing services. Through its network of agencies and specialized businesses, the company helps clients develop brands, engage customers and execute integrated marketing campaigns across traditional and digital channels.

Omnicom's services include creative advertising, strategic media planning and buying, digital marketing, data and precision marketing, public relations, healthcare communications, experiential marketing, commerce and consulting.

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