Cypress Wealth Services LLC decreased its holdings in shares of Omnicom Group Inc. (NYSE:OMC – Free Report) by 10.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,464 shares of the business services provider’s stock after selling 538 shares during the quarter. Cypress Wealth Services LLC’s holdings in Omnicom Group were worth $432,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the business. Arvest Investments Inc. acquired a new position in Omnicom Group in the fourth quarter valued at $1,969,000. Raymond James & Associates boosted its holdings in Omnicom Group by 3.3% in the fourth quarter. Raymond James & Associates now owns 433,144 shares of the business services provider’s stock valued at $37,471,000 after acquiring an additional 13,709 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Omnicom Group by 1,627.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 66,488 shares of the business services provider’s stock worth $5,752,000 after purchasing an additional 62,640 shares in the last quarter. Kodai Capital Management LP acquired a new position in shares of Omnicom Group during the fourth quarter worth about $27,419,000. Finally, Occidental Asset Management LLC lifted its stake in shares of Omnicom Group by 329.0% during the fourth quarter. Occidental Asset Management LLC now owns 13,802 shares of the business services provider’s stock worth $1,194,000 after purchasing an additional 10,585 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.
Insider Buying and Selling
In other news, Director Linda Johnson Rice sold 453 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $92.68, for a total transaction of $41,984.04. Following the completion of the sale, the director now owns 9,830 shares of the company’s stock, valued at $911,044.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.
Omnicom Group Stock Performance
Omnicom Group (NYSE:OMC – Get Free Report) last released its earnings results on Tuesday, April 16th. The business services provider reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.15. Omnicom Group had a net margin of 9.96% and a return on equity of 38.23%. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.58 billion. As a group, equities analysts predict that Omnicom Group Inc. will post 7.84 EPS for the current fiscal year.
Omnicom Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 10th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.15%. The ex-dividend date is Monday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is presently 37.84%.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on OMC. StockNews.com upgraded Omnicom Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $91.00 to $106.00 in a research report on Wednesday, April 17th. Barclays raised Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $100.00 to $110.00 in a research report on Tuesday, May 7th. Moffett Nathanson lifted their target price on Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Finally, BNP Paribas raised Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 target price on the stock in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Omnicom Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.
View Our Latest Stock Analysis on Omnicom Group
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.
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