California Public Employees Retirement System Reduces Stake in Omnicom Group Inc. $OMC

California Public Employees Retirement System reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 13.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 703,319 shares of the business services provider’s stock after selling 113,204 shares during the period. California Public Employees Retirement System owned about 0.25% of Omnicom Group worth $52,967,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Activest Wealth Management grew its holdings in Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 296 shares during the period. Bayforest Capital Ltd purchased a new stake in Omnicom Group in the fourth quarter worth $26,000. Elyxium Wealth LLC bought a new stake in shares of Omnicom Group in the fourth quarter valued at $26,000. Legacy Wealth Managment LLC ID raised its stake in shares of Omnicom Group by 111.4% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the period. Finally, EFG International AG purchased a new position in shares of Omnicom Group during the 4th quarter valued at $28,000. Institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Rothschild & Co Redburn assumed coverage on Omnicom Group in a research note on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target for the company. The Goldman Sachs Group began coverage on Omnicom Group in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective on the stock. Morgan Stanley upped their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Citigroup cut their target price on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Finally, Argus upgraded shares of Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $99.38.

Omnicom Group Stock Up 0.8%

Shares of NYSE:OMC opened at $82.40 on Tuesday. The firm has a fifty day moving average price of $75.93 and a two-hundred day moving average price of $76.80. The company has a market cap of $23.48 billion, a price-to-earnings ratio of 211.28, a PEG ratio of 0.49 and a beta of 0.63. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $87.17.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The firm’s revenue was up 69.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.70 earnings per share. Analysts anticipate that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio is currently 820.51%.

About Omnicom Group

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.