JPMorgan Chase & Co. Cuts Omnicom Group (NYSE:OMC) Price Target to $116.00

Omnicom Group (NYSE:OMC) had its price objective lowered by JPMorgan Chase & Co. from $119.00 to $116.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the business services provider’s stock.

Other research analysts have also recently issued research reports about the company. Barclays cut their target price on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. UBS Group upped their price objective on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company decreased their target price on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 10th. Finally, Macquarie restated an “outperform” rating and issued a $120.00 price target on shares of Omnicom Group in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $108.25.

Omnicom Group Price Performance

OMC stock opened at $86.96 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. Omnicom Group has a 12 month low of $81.42 and a 12 month high of $107.00. The stock has a market cap of $16.97 billion, a PE ratio of 11.88, a P/E/G ratio of 1.88 and a beta of 0.98. The company has a 50-day moving average price of $91.23 and a 200 day moving average price of $96.37.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 20th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Friday, December 20th. Omnicom Group’s dividend payout ratio (DPR) is presently 38.25%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OMC. State Street Corp increased its holdings in Omnicom Group by 5.7% during the third quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock valued at $1,468,615,000 after buying an additional 759,980 shares during the period. Geode Capital Management LLC boosted its position in Omnicom Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,100,560 shares of the business services provider’s stock valued at $525,960,000 after acquiring an additional 72,447 shares in the last quarter. Barclays PLC increased its holdings in shares of Omnicom Group by 1.7% in the 3rd quarter. Barclays PLC now owns 819,613 shares of the business services provider’s stock valued at $84,741,000 after acquiring an additional 13,637 shares during the period. Millennium Management LLC raised its position in shares of Omnicom Group by 73.0% in the 2nd quarter. Millennium Management LLC now owns 768,328 shares of the business services provider’s stock worth $68,919,000 after acquiring an additional 324,196 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Omnicom Group by 23.6% during the 3rd quarter. Bank of Montreal Can now owns 705,806 shares of the business services provider’s stock worth $72,465,000 after purchasing an additional 134,927 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

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.