Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in Omnicom Group Inc. (NYSE:OMC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 153,468 shares of the business services provider's stock, valued at approximately $13,204,000. Grantham Mayo Van Otterloo & Co. LLC owned about 0.08% of Omnicom Group at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Omnicom Group by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 23,041,818 shares of the business services provider's stock valued at $1,982,518,000 after buying an additional 99,424 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Omnicom Group by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 6,714,693 shares of the business services provider's stock valued at $577,732,000 after acquiring an additional 156,438 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Omnicom Group by 50.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider's stock valued at $513,922,000 after acquiring an additional 1,992,695 shares during the last quarter. Geode Capital Management LLC increased its position in Omnicom Group by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 5,151,708 shares of the business services provider's stock worth $442,453,000 after purchasing an additional 51,148 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. raised its stake in Omnicom Group by 7.1% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 3,401,890 shares of the business services provider's stock valued at $292,698,000 after purchasing an additional 224,870 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.
Omnicom Group Trading Up 1.6 %
NYSE:OMC traded up $1.19 during trading hours on Friday, reaching $75.17. 1,080,464 shares of the company were exchanged, compared to its average volume of 2,132,814. Omnicom Group Inc. has a 52-week low of $69.13 and a 52-week high of $107.00. The stock has a 50 day simple moving average of $80.73 and a 200 day simple moving average of $90.55. The firm has a market cap of $14.77 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 1.94 and a beta of 0.87. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.90.
Omnicom Group (NYSE:OMC - Get Free Report) last issued its earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.03. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. During the same period last year, the company posted $2.20 EPS. As a group, analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current year.
Omnicom Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date was Tuesday, March 11th. Omnicom Group's payout ratio is currently 37.58%.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on OMC. Argus cut shares of Omnicom Group from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. UBS Group decreased their target price on shares of Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. JPMorgan Chase & Co. cut their price target on Omnicom Group from $119.00 to $116.00 and set an "overweight" rating for the company in a report on Monday, January 27th. Finally, Barclays reduced their price target 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $104.43.
Check Out Our Latest Analysis on Omnicom Group
Omnicom Group Company Profile
(
Free Report)
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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