Omnicom Group Inc. $OMC Stake Lessened by Mcrae Capital Management Inc.

Mcrae Capital Management Inc. cut its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 2.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 215,689 shares of the business services provider’s stock after selling 5,740 shares during the quarter. Omnicom Group accounts for about 3.2% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 11th largest holding. Mcrae Capital Management Inc. owned 0.11% of Omnicom Group worth $15,517,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. boosted its holdings in shares of Omnicom Group by 16.1% during the second quarter. Resona Asset Management Co. Ltd. now owns 73,713 shares of the business services provider’s stock worth $5,297,000 after purchasing an additional 10,211 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Omnicom Group by 11.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 276,904 shares of the business services provider’s stock valued at $19,921,000 after buying an additional 27,950 shares during the period. Machina Capital S.A.S. grew its holdings 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 valued at $1,215,000 after acquiring an additional 8,752 shares in the last quarter. Verity Asset Management Inc. purchased a new position in shares of Omnicom Group during the 2nd quarter valued at $261,000. Finally, EPG Wealth Management LLC increased its stake in shares of Omnicom Group by 2.3% in the second quarter. EPG Wealth Management LLC now owns 7,738 shares of the business services provider’s stock worth $557,000 after acquiring an additional 175 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on OMC. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research report on Wednesday, October 8th. Barclays boosted their price target on Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. cut their price objective on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Thursday, July 10th. Finally, Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.57.

Omnicom Group Price Performance

Shares of Omnicom Group stock opened at $73.02 on Friday. The firm has a fifty day simple moving average of $77.29 and a 200-day simple moving average of $75.15. 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 1-year low of $68.37 and a 1-year high of $105.99. The stock has a market capitalization of $14.09 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.43 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.02 billion. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. Omnicom Group’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business posted $2.03 EPS. On average, sell-side analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

About Omnicom Group

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.