Procyon Advisors LLC Increases Stake in Omnicom Group Inc. $OMC

Key Points

• Procyon Advisors LLC boosted its stake in Omnicom Group by 56.3% in the first quarter, buying an additional 12,561 shares and bringing its total holding to 34,881 shares valued at about $2.63 million.
• Omnicom Group reported better-than-expected quarterly earnings, with EPS of $1.90 versus estimates of $1.84 and revenue of $6.24 billion versus expectations of $5.85 billion. Revenue also rose 69.2% year over year.
• The company paid a quarterly dividend of $0.80, equal to a 3.9% yield, while analysts currently have a consensus rating of Hold with an average price target of $99.38.

Procyon Advisors LLC lifted its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 56.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,881 shares of the business services provider's stock after buying an additional 12,561 shares during the quarter. Procyon Advisors LLC's holdings in Omnicom Group were worth $2,627,000 at the end of the most recent reporting period.

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

Omnicom Group Trading Up 0.7%

NYSE OMC opened at $82.48 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77. The firm's fifty day moving average price is $75.40 and its 200 day moving average price is $76.73. The company has a market capitalization of $23.51 billion, a price-to-earnings ratio of 211.49, a price-to-earnings-growth ratio of 0.49 and a beta of 0.63. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $87.17.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates 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 in the previous year, the company earned $1.70 earnings per share. Omnicom Group's quarterly revenue was up 69.2% compared to the same quarter last year. On average, sell-side analysts expect that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Wednesday, June 10th. Omnicom Group's payout ratio is presently 820.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on OMC shares. Morgan Stanley lifted their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Argus upgraded Omnicom Group to a "hold" rating in a research note on Thursday, March 26th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Omnicom Group in a report on Friday, May 22nd. The Goldman Sachs Group initiated coverage on Omnicom Group in a research report on Wednesday, June 3rd. They set a "buy" rating and a $146.00 price objective for the company. Finally, 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. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Omnicom Group has an average rating of "Hold" and an average price target of $99.38.

Omnicom Group Company 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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