Teacher Retirement System of Texas Cuts Stake in Omnicom Group Inc. (NYSE:OMC)

Teacher Retirement System of Texas cut its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 176,369 shares of the business services provider's stock after selling 4,645 shares during the period. Teacher Retirement System of Texas owned 0.09% of Omnicom Group worth $14,623,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Johnson Financial Group Inc. lifted its stake in shares of Omnicom Group by 153.8% in the 4th quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock valued at $29,000 after purchasing an additional 200 shares during the period. Versant Capital Management Inc lifted its stake in Omnicom Group by 45.7% in the first quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock valued at $38,000 after buying an additional 143 shares during the period. CoreCap Advisors LLC lifted its stake in Omnicom Group by 708.8% in the fourth quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock valued at $40,000 after buying an additional 404 shares during the period. Golden State Wealth Management LLC raised its position in shares of Omnicom Group by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock valued at $41,000 after acquiring an additional 343 shares during the period. Finally, Whittier Trust Co. raised its position in shares of Omnicom Group by 194.6% in the 4th quarter. Whittier Trust Co. now owns 489 shares of the business services provider's stock valued at $42,000 after acquiring an additional 323 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Stock Down 0.9%

Shares of OMC stock traded down $0.70 during mid-day trading on Monday, hitting $74.01. The stock had a trading volume of 1,874,062 shares, compared to its average volume of 2,605,565. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00. The firm's 50-day moving average is $73.55 and its two-hundred day moving average is $78.90. The firm has a market capitalization of $14.44 billion, a P/E ratio of 10.13, a price-to-earnings-growth ratio of 1.65 and a beta of 0.92. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.01 and a quick ratio of 0.87.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.63 by $0.07. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.73 billion. Omnicom Group had a net margin of 9.20% and a return on equity of 34.85%. On average, analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, June 10th. This represents a $2.80 annualized dividend and a dividend yield of 3.78%. Omnicom Group's dividend payout ratio (DPR) is presently 38.30%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OMC. JPMorgan Chase & Co. dropped their price target on Omnicom Group from $116.00 to $104.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company reduced their target price on Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Bank of America raised 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. UBS Group dropped their price target on Omnicom Group from $117.00 to $104.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Finally, Barclays lowered shares of 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 report on Wednesday, June 25th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Omnicom Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.43.

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.