Bridgewater Advisors Inc. Trims Stake in Omnicom Group Inc. $OMC

Bridgewater Advisors Inc. lessened its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 46.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,011 shares of the business services provider’s stock after selling 3,489 shares during the period. Bridgewater Advisors Inc.’s holdings in Omnicom Group were worth $287,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of OMC. Machina Capital S.A.S. lifted its stake in shares of Omnicom Group by 107.5% during the 2nd quarter. Machina Capital S.A.S. now owns 16,894 shares of the business services provider’s stock worth $1,215,000 after acquiring an additional 8,752 shares during the last quarter. Verity Asset Management Inc. purchased a new stake in Omnicom Group in the second quarter worth $261,000. EPG Wealth Management LLC lifted its position in shares of Omnicom Group by 2.3% during the second quarter. EPG Wealth Management LLC now owns 7,738 shares of the business services provider’s stock worth $557,000 after purchasing an additional 175 shares during the last quarter. South Dakota Investment Council boosted its stake in shares of Omnicom Group by 21.4% during the second quarter. South Dakota Investment Council now owns 5,100 shares of the business services provider’s stock valued at $367,000 after purchasing an additional 900 shares during the period. Finally, State of Michigan Retirement System increased its stake in Omnicom Group by 3.4% in the 2nd quarter. State of Michigan Retirement System now owns 57,184 shares of the business services provider’s stock worth $4,114,000 after buying an additional 1,900 shares during the period. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Price Performance

NYSE OMC opened at $73.61 on Wednesday. The firm’s fifty day simple moving average is $77.49 and its two-hundred day simple moving average is $75.17. The firm has a market capitalization of $14.21 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.43 and a beta of 0.96. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, October 21st. The business services provider reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the firm earned $2.03 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

OMC has been the subject of several research reports. Barclays upped their price target on shares of Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. lowered their target price on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a report on Thursday, July 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.57.

Omnicom Group 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.