Slotnik Capital LLC Purchases Shares of 31,476 Omnicom Group Inc. $OMC

Key Points

• Slotnik Capital LLC has invested approximately $2.61 million in Omnicom Group Inc., acquiring 31,476 shares, making it the firm's 14th largest holding.
• Omnicom Group reported quarterly earnings of $2.05 per share, exceeding analysts' expectations, alongside revenues of $4.02 billion, which also surpassed predictions.
• The company declared a quarterly dividend of $0.70 per share, reflecting an annual yield of 3.5%, with payment set for October 10th.

Slotnik Capital LLC acquired a new stake in Omnicom Group Inc. (NYSE:OMC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 31,476 shares of the business services provider's stock, valued at approximately $2,610,000. Omnicom Group accounts for 1.3% of Slotnik Capital LLC's holdings, making the stock its 14th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in Omnicom Group by 17,506.1% during the first quarter. Pacer Advisors Inc. now owns 2,744,080 shares of the business services provider's stock worth $227,512,000 after buying an additional 2,728,494 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Omnicom Group by 20.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,178,226 shares of the business services provider's stock worth $595,147,000 after acquiring an additional 1,205,165 shares during the period. Baird Financial Group Inc. grew its holdings in Omnicom Group by 44.5% during the first quarter. Baird Financial Group Inc. now owns 3,896,270 shares of the business services provider's stock worth $323,040,000 after acquiring an additional 1,199,725 shares during the period. AQR Capital Management LLC boosted its position in Omnicom Group by 1,836.5% during the first quarter. AQR Capital Management LLC now owns 1,086,752 shares of the business services provider's stock worth $89,114,000 after purchasing an additional 1,030,633 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Omnicom Group by 42.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,965,974 shares of the business services provider's stock worth $245,909,000 after purchasing an additional 887,415 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company's stock.

Omnicom Group Stock Down 0.9%

Shares of OMC stock traded down $0.70 on Friday, reaching $77.14. 3,292,519 shares of the company's stock traded hands, compared to its average volume of 3,022,477. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. The company has a market capitalization of $14.94 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 1.54 and a beta of 0.97. The business's 50 day moving average price is $75.31 and its two-hundred day moving average price is $75.56.

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

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be given 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 3.6%. Omnicom Group's payout ratio is currently 40.17%.

Analyst Upgrades and Downgrades

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

About Omnicom Group

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.