Omnicom Group Inc. $OMC Shares Sold by Procyon Advisors LLC

Key Points

• Procyon Advisors LLC reduced its holdings in Omnicom Group Inc. by 36.3%, selling 8,307 shares in the second quarter, leaving them with 14,569 shares valued at approximately $1,048,000.
• Omnicom Group reported $2.05 earnings per share for the last quarter, surpassing estimates and representing a year-over-year revenue increase of 4.2%.
• The firm announced a quarterly dividend of $0.70 per share, resulting in an annualized dividend of $2.80 and a yield of 3.7%.

Procyon Advisors LLC trimmed its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 36.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,569 shares of the business services provider's stock after selling 8,307 shares during the quarter. Procyon Advisors LLC's holdings in Omnicom Group were worth $1,048,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Zions Bancorporation National Association UT purchased a new stake in shares of Omnicom Group in the 1st quarter worth $34,000. Gen Wealth Partners Inc purchased a new stake in shares of Omnicom Group in the 1st quarter worth $36,000. Versant Capital Management Inc lifted its holdings in shares of Omnicom Group by 45.7% in the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock worth $38,000 after buying an additional 143 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Omnicom Group by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock worth $41,000 after purchasing an additional 343 shares during the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Omnicom Group during the 1st quarter worth $43,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Stock Performance

Shares of OMC stock traded down $0.85 during mid-day trading on Friday, reaching $75.19. The stock had a trading volume of 8,425,694 shares, compared to its average volume of 3,609,905. The business's fifty day moving average is $75.55 and its 200-day moving average is $75.46. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. The firm has a market cap of $14.57 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.52 and a beta of 0.97. Omnicom Group Inc. has a 1-year low of $68.37 and a 1-year high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.03. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.95 billion. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The company's revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.95 earnings per share. On average, research analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.7%. Omnicom Group's dividend payout ratio is currently 40.17%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OMC. Bank of America upgraded Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective for the company in a research note on Monday, June 23rd. JPMorgan Chase & Co. decreased their price objective on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Barclays cut Omnicom Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Finally, Wells Fargo & Company decreased their price objective on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 16th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.43.

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.