Cooke & Bieler LP Lowers Holdings in Omnicom Group Inc. $OMC

Cooke & Bieler LP lowered its position in Omnicom Group Inc. (NYSE:OMC) by 3.2% in the third quarter, Holdings Channel.com reports. The fund owned 2,269,871 shares of the business services provider’s stock after selling 74,729 shares during the period. Omnicom Group makes up 1.9% of Cooke & Bieler LP’s investment portfolio, making the stock its 9th largest holding. Cooke & Bieler LP’s holdings in Omnicom Group were worth $185,063,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of OMC. Meeder Asset Management Inc. raised its stake in shares of Omnicom Group by 289.4% in the third quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 272 shares in the last quarter. Capital A Wealth Management LLC raised its stake in shares of Omnicom Group by 548.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the business services provider’s stock valued at $27,000 after buying an additional 318 shares in the last quarter. Harbor Asset Planning Inc. acquired a new position in shares of Omnicom Group in the 2nd quarter valued at $29,000. Ameritas Advisory Services LLC bought a new position in shares of Omnicom Group during the 2nd quarter worth about $34,000. Finally, Quent Capital LLC acquired a new stake in shares of Omnicom Group during the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of OMC stock opened at $79.81 on Monday. Omnicom Group Inc. has a 52 week low of $68.37 and a 52 week high of $89.35. The stock has a market capitalization of $15.40 billion, a PE ratio of 11.79, a PEG ratio of 1.33 and a beta of 0.74. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92. The stock’s fifty day moving average is $77.26 and its 200-day moving average is $76.45.

Omnicom Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 19th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, December 19th. This is a boost from Omnicom Group’s previous quarterly dividend of $0.70. Omnicom Group’s dividend payout ratio is 47.27%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Bank of America reissued an “underperform” rating and issued a $77.00 price target (down previously from $87.00) on shares of Omnicom Group in a research report on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday. UBS Group increased their target price on Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Morgan Stanley began coverage on Omnicom Group in a research note on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price target on the stock. Finally, Barclays upped their price target on Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Thursday, October 23rd. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group presently has a consensus rating of “Hold” and a consensus target price of $92.14.

Omnicom Group Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.