Massachusetts Financial Services Co. MA Purchases 691,560 Shares of Omnicom Group Inc. $OMC

Massachusetts Financial Services Co. MA increased its position in Omnicom Group Inc. (NYSE:OMC) by 9.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,869,786 shares of the business services provider’s stock after acquiring an additional 691,560 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Omnicom Group were worth $566,152,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Omnicom Group by 1.8% during the first quarter. Vanguard Group Inc. now owns 23,466,754 shares of the business services provider’s stock worth $1,945,629,000 after purchasing an additional 424,936 shares during the period. Geode Capital Management LLC lifted its stake in shares of Omnicom Group by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 5,339,385 shares of the business services provider’s stock valued at $382,717,000 after buying an additional 48,868 shares in the last quarter. Boston Partners boosted its holdings in Omnicom Group by 18.5% in the 1st quarter. Boston Partners now owns 4,882,041 shares of the business services provider’s stock worth $402,598,000 after buying an additional 762,871 shares during the period. Baird Financial Group Inc. boosted its holdings in Omnicom Group by 44.5% in the 1st quarter. Baird Financial Group Inc. now owns 3,896,270 shares of the business services provider’s stock worth $323,040,000 after buying an additional 1,199,725 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Omnicom Group by 1.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,259,431 shares of the business services provider’s stock valued at $270,235,000 after buying an additional 49,801 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OMC has been the topic of several recent research reports. Barclays increased their target price on Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.57.

Omnicom Group Stock Down 1.3%

OMC opened at $72.13 on Friday. The firm has a market capitalization of $13.92 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 1.43 and a beta of 0.94. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $105.99. The company has a fifty day moving average price of $76.72 and a 200-day moving average price of $75.11. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, October 21st. The business services provider reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.02 billion. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.03 earnings per share. Equities research analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

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.