Patten Group Inc. Has $457,000 Stock Position in Omnicom Group Inc. $OMC

Key Points

• Patten Group Inc. reduced its stake in Omnicom Group Inc. by 34.5%, now holding 6,357 shares valued at $457,000.
• Omnicom Group recently reported an EPS of $2.24, beating analyst estimates, with quarterly revenue at $4.04 billion, a 4.0% increase year-over-year.
• The company's stock has seen a target price adjustment, with Barclays lowering it from $105.00 to $80.00, while Wells Fargo upgraded it to a price target of $91.00.

Patten Group Inc. lowered its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 34.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,357 shares of the business services provider's stock after selling 3,354 shares during the period. Patten Group Inc.'s holdings in Omnicom Group were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Harbor Asset Planning Inc. acquired a new position in shares of Omnicom Group during the second quarter valued at about $29,000. Zions Bancorporation National Association UT acquired a new position in shares of Omnicom Group during the first quarter valued at about $34,000. Ameritas Advisory Services LLC acquired a new position in shares of Omnicom Group during the second quarter valued at about $34,000. Gen Wealth Partners Inc acquired a new position in shares of Omnicom Group during the first quarter valued at about $36,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of Omnicom Group by 230.2% during the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock valued at $41,000 after purchasing an additional 343 shares during the period. Institutional investors and hedge funds own 91.97% of the company's stock.

Omnicom Group Trading Up 3.0%

OMC opened at $81.07 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $107.00. The firm has a market capitalization of $15.70 billion, a PE ratio of 11.97, a P/E/G ratio of 1.54 and a beta of 0.96. The company's 50-day moving average is $77.70 and its 200 day moving average is $74.99.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 21st. The business services provider reported $2.24 EPS for the quarter, beating the consensus estimate of $2.17 by $0.07. The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.02 billion. Omnicom Group had a net margin of 8.31% and a return on equity of 33.66%. The company's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $2.03 EPS. As a group, research analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OMC. Weiss Ratings reiterated a "hold (c)" rating on shares of Omnicom Group in a report on Wednesday, October 8th. Barclays lowered 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. Wells Fargo & Company upgraded shares of Omnicom Group from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $78.00 to $91.00 in a report on Tuesday, September 23rd. Finally, 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. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Omnicom Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.29.

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.

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