Eliot Finkel Investment Counsel LLC Lowers Stock Holdings in Omnicom Group Inc. $OMC

Eliot Finkel Investment Counsel LLC decreased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 1.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 61,190 shares of the business services provider’s stock after selling 795 shares during the quarter. Omnicom Group makes up 2.8% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 16th largest holding. Eliot Finkel Investment Counsel LLC’s holdings in Omnicom Group were worth $4,402,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Zions Bancorporation National Association UT purchased a new position in shares of Omnicom Group during the 1st quarter valued at $34,000. Gen Wealth Partners Inc purchased a new stake in Omnicom Group in the 1st quarter worth $36,000. Ameritas Advisory Services LLC purchased a new stake in Omnicom Group in the 2nd quarter worth $34,000. Golden State Wealth Management LLC lifted its stake in 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 worth $41,000 after purchasing an additional 343 shares in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new stake in Omnicom Group in the 1st quarter worth $43,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on OMC shares. JPMorgan Chase & Co. decreased their price target on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a research note on Thursday, July 10th. Barclays cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research note on Saturday, September 27th. Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Finally, Bank of America upgraded shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research note on Monday, June 23rd. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Omnicom Group presently has an average rating of “Moderate Buy” and an average target price of $96.29.

Omnicom Group Stock Performance

Omnicom Group stock opened at $77.59 on Friday. The company’s 50-day moving average price is $76.33 and its 200-day moving average price is $75.05. Omnicom Group Inc. has a twelve month low of $68.37 and a twelve month high of $107.00. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The company has a market cap of $15.03 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 1.51 and a beta of 0.96.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.03. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.95 EPS. On average, equities research analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group’s dividend payout ratio is presently 40.17%.

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.