Tidal Investments LLC Grows Stake in Omnicom Group Inc. (NYSE:OMC)

Tidal Investments LLC increased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 14.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,987 shares of the business services provider’s stock after buying an additional 4,285 shares during the quarter. Tidal Investments LLC’s holdings in Omnicom Group were worth $3,190,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in OMC. Beutel Goodman & Co Ltd. raised its holdings in Omnicom Group by 1.0% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,197,767 shares of the business services provider’s stock worth $363,148,000 after purchasing an additional 42,075 shares during the last quarter. Lazard Asset Management LLC grew its position in Omnicom Group by 6.3% during the first quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock valued at $269,734,000 after acquiring an additional 165,136 shares during the period. First Trust Advisors LP grew its position in Omnicom Group by 7.7% during the fourth quarter. First Trust Advisors LP now owns 2,598,915 shares of the business services provider’s stock valued at $224,832,000 after acquiring an additional 186,562 shares during the period. Baird Financial Group Inc. grew its position in Omnicom Group by 1.9% during the fourth quarter. Baird Financial Group Inc. now owns 2,370,253 shares of the business services provider’s stock valued at $205,051,000 after acquiring an additional 43,861 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Omnicom Group by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,855,879 shares of the business services provider’s stock worth $160,557,000 after purchasing an additional 78,215 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Barclays upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $100.00 to $110.00 in a research note on Tuesday, May 7th. Moffett Nathanson upped 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. JPMorgan Chase & Co. raised their price objective on Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. UBS Group raised their price objective on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, StockNews.com raised Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Omnicom Group has an average rating of “Moderate Buy” and an average price target of $104.70.

Insider Activity

In other Omnicom Group news, Director Linda Johnson Rice sold 453 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $92.68, for a total value of $41,984.04. Following the transaction, the director now directly owns 9,830 shares of the company’s stock, valued at approximately $911,044.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by insiders.

Omnicom Group Trading Down 3.2 %

Shares of OMC stock traded down $3.11 on Thursday, hitting $94.93. The stock had a trading volume of 647,751 shares, compared to its average volume of 1,617,882. Omnicom Group Inc. has a twelve month low of $72.20 and a twelve month high of $98.71. The firm has a market cap of $18.57 billion, a P/E ratio of 13.25, a PEG ratio of 2.31 and a beta of 0.95. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. The company has a fifty day moving average price of $91.48 and a two-hundred day moving average price of $91.72.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.81 EPS. As a group, analysts forecast that Omnicom Group Inc. will post 7.92 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.95%. Omnicom Group’s payout ratio is 37.84%.

Omnicom Group Company 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.