Teacher Retirement System of Texas Lowers Stock Position in Omnicom Group Inc. (NYSE:OMC)

Teacher Retirement System of Texas lessened its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 2.6% during the first quarter, according to its most recent filing with the Securities & 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 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Omnicom Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 23,041,818 shares of the business services provider's stock worth $1,982,518,000 after buying an additional 99,424 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Omnicom Group by 50.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider's stock worth $513,922,000 after buying an additional 1,992,695 shares during the period. Geode Capital Management LLC increased its stake in shares of Omnicom Group by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,151,708 shares of the business services provider's stock worth $442,453,000 after buying an additional 51,148 shares during the period. First Trust Advisors LP increased its position in Omnicom Group by 23.8% during the 4th quarter. First Trust Advisors LP now owns 3,882,800 shares of the business services provider's stock valued at $334,076,000 after purchasing an additional 747,575 shares during the period. Finally, Beutel Goodman & Co Ltd. increased its position in Omnicom Group by 7.1% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 3,401,890 shares of the business services provider's stock valued at $292,698,000 after purchasing an additional 224,870 shares during the period. Institutional investors and hedge funds own 91.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on OMC shares. Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price for the company in a research report on Monday, June 23rd. UBS Group dropped their target price on shares of Omnicom Group from $117.00 to $104.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Wells Fargo & Company lowered their price objective on shares of Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Citigroup restated a "buy" rating and issued a $103.00 target price on shares of Omnicom Group in a report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Omnicom Group has an average rating of "Moderate Buy" and a consensus target price of $96.43.

Omnicom Group Price Performance

Shares of Omnicom Group stock traded up $0.66 during trading hours on Tuesday, reaching $74.50. 3,224,840 shares of the company's stock were exchanged, compared to its average volume of 2,616,535. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00. The company has a market capitalization of $14.54 billion, a P/E ratio of 10.19, a price-to-earnings-growth ratio of 1.65 and a beta of 0.92. The business has a fifty day moving average of $73.52 and a two-hundred day moving average of $78.79. The company has a quick ratio of 0.87, a current ratio of 1.01 and a debt-to-equity ratio of 1.24.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its earnings results on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.07. Omnicom Group had a net margin of 9.20% and a return on equity of 34.85%. The company had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $3.73 billion. As a group, research analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.80 annualized dividend and a dividend yield of 3.76%. Omnicom Group's dividend payout ratio is presently 38.30%.

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.