TD Asset Management Inc. lessened its stake in Omnicom Group Inc. (NYSE:OMC) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,270,942 shares of the business services provider’s stock after selling 61,427 shares during the quarter. TD Asset Management Inc. owned about 0.59% of Omnicom Group worth $62,911,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OMC. Ovata Capital Management Ltd purchased a new position in Omnicom Group in the 2nd quarter worth approximately $26,000. Simon Quick Advisors LLC purchased a new position in Omnicom Group in the 3rd quarter worth approximately $45,000. Cerebellum GP LLC purchased a new position in Omnicom Group in the 3rd quarter worth approximately $56,000. CSat Investment Advisory L.P. boosted its holdings in Omnicom Group by 53.6% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,124 shares of the business services provider’s stock worth $62,000 after acquiring an additional 392 shares during the period. Finally, Hills Bank & Trust Co. purchased a new position in Omnicom Group in the 2nd quarter worth approximately $102,000. Hedge funds and other institutional investors own 95.18% of the company’s stock.
OMC stock opened at $59.65 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.88 and a debt-to-equity ratio of 1.85. The firm has a market cap of $12.82 billion, a P/E ratio of 13.50, a P/E/G ratio of 2.42 and a beta of 0.63. Omnicom Group Inc. has a 12-month low of $44.50 and a 12-month high of $82.73. The stock’s 50 day simple moving average is $52.41 and its 200 day simple moving average is $53.59.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, October 27th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.09. The business had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.05 billion. Omnicom Group had a return on equity of 36.90% and a net margin of 7.10%. The business’s revenue was down 11.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.32 EPS. On average, research analysts forecast that Omnicom Group Inc. will post 4.63 EPS for the current fiscal year.
A number of equities analysts have weighed in on OMC shares. Moffett Nathanson upgraded Omnicom Group from a “sell” rating to a “neutral” rating and upped their price target for the stock from $45.00 to $50.00 in a report on Wednesday, October 28th. Barclays raised Omnicom Group from an “equal weight” rating to an “overweight” rating in a research report on Monday, October 12th. Wells Fargo & Company cut their target price on Omnicom Group from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 28th. Huber Research raised Omnicom Group from an “underweight” rating to an “overweight” rating in a research report on Friday, October 30th. Finally, TheStreet raised Omnicom Group from a “c” rating to a “b-” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Omnicom Group presently has an average rating of “Hold” and a consensus target price of $59.29.
About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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