Omnicom Group (NYSE:OMC) Director Linda Johnson Rice Sells 1,385 Shares

Omnicom Group Inc. (NYSE:OMC) Director Linda Johnson Rice sold 1,385 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the sale, the director directly owned 11,719 shares of the company’s stock, valued at $1,039,826.87. This trade represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Omnicom Group Stock Performance

Shares of OMC opened at $87.98 on Thursday. The company’s fifty day moving average is $81.04 and its 200-day moving average is $77.99. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.57. The firm has a market cap of $24.14 billion, a price-to-earnings ratio of 75.85, a price-to-earnings-growth ratio of 0.59 and a beta of 0.64. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The company had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the previous year, the business posted $2.05 earnings per share. The firm’s revenue was up 63.4% on a year-over-year basis. Equities analysts expect that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s dividend payout ratio is currently 275.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on OMC shares. The Goldman Sachs Group started coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective for the company. Zacks Research cut Omnicom Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Rothschild & Co Redburn began coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price target for the company. Morgan Stanley increased their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, Wells Fargo & Company lifted their price objective on shares of Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $99.00.

Hedge Funds Weigh In On Omnicom Group

Several institutional investors and hedge funds have recently modified their holdings of OMC. Vanguard Group Inc. lifted its stake in Omnicom Group by 64.2% in the fourth quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock valued at $3,143,930,000 after buying an additional 15,220,444 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Omnicom Group by 6,250.5% during the second quarter. California State Teachers Retirement System now owns 33,804,190 shares of the business services provider’s stock worth $2,461,959,000 after acquiring an additional 33,271,882 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Omnicom Group during the second quarter worth $2,082,476,000. State Street Corp raised its holdings in shares of Omnicom Group by 40.4% during the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock worth $1,933,891,000 after acquiring an additional 6,813,441 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Omnicom Group during the second quarter worth $914,156,000. 91.97% of the stock is currently owned by institutional investors and hedge funds.

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.