TD Waterhouse Canada Inc. Has $9.74 Million Holdings in Omnicom Group Inc. $OMC

Key Points

• TD Waterhouse Canada cut its Omnicom stake by 42.5% in the second quarter, selling 94,597 shares and retaining 127,880 shares valued at approximately $9.74 million. Institutional investors collectively own 91.97% of OMC.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $99.00; ratings range from Buy to Strong Sell. Omnicom shares opened at $82.49, while the company’s latest quarterly revenue rose 63.4% year over year, though EPS slightly missed estimates.
• Omnicom declared a quarterly dividend of $0.80 per share, equivalent to $3.20 annually and a 3.9% yield. The dividend’s reported payout ratio is 275.86%.

TD Waterhouse Canada Inc. reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 42.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 127,880 shares of the business services provider's stock after selling 94,597 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Omnicom Group were worth $9,737,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Keating Financial Advisory Services Inc. purchased a new stake in shares of Omnicom Group during the second quarter worth $25,000. Elyxium Wealth LLC acquired a new position in Omnicom Group in the 4th quarter worth about $26,000. Legacy Wealth Managment LLC ID increased its position in 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 worth $27,000 after purchasing an additional 176 shares during the last quarter. EFG International AG purchased a new stake in shares of Omnicom Group during the 4th quarter worth about $28,000. Finally, Caitlin John LLC lifted its holdings in shares of Omnicom Group by 4,675.0% during the 4th quarter. Caitlin John LLC now owns 382 shares of the business services provider's stock valued at $31,000 after buying an additional 374 shares during the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OMC. Wells Fargo & Company increased 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. The Goldman Sachs Group initiated coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They issued a "buy" rating and a $146.00 price objective for the company. Citigroup lowered their target price on shares of Omnicom Group from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Weiss Ratings upgraded Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, July 30th. Finally, Zacks Research cut Omnicom Group from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $99.00.

Omnicom Group Stock Performance

Shares of OMC opened at $82.49 on Friday. The company has a market capitalization of $22.63 billion, a PE ratio of 71.11, a price-to-earnings-growth ratio of 0.71 and a beta of 0.65. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $89.57. The company's fifty day moving average price is $82.83 and its 200 day moving average price is $78.70.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.67 by ($0.02). The firm had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The firm's revenue was up 63.4% on a year-over-year basis. During the same quarter last year, the company earned $2.05 earnings per share. As a group, analysts expect that Omnicom Group Inc. will post 10.35 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group's payout ratio is currently 275.86%.

Insider Activity at Omnicom Group

In other news, Director Linda Rice sold 1,385 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the sale, the director directly owned 11,719 shares of the company's stock, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Omnicom Group 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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