True Freedom Investing LLC Takes Position in Omnicom Group Inc. $OMC

True Freedom Investing LLC purchased a new stake in shares of Omnicom Group Inc. (NYSE:OMC) in the second quarter, HoldingsChannel reports. The institutional investor purchased 67,047 shares of the business services provider’s stock, valued at approximately $5,049,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wakefield Asset Management LLLP increased its position in shares of Omnicom Group by 2.6% in the fourth quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider’s stock worth $477,000 after purchasing an additional 149 shares during the last quarter. Caldwell Trust Co lifted its position in Omnicom Group by 29.0% during the first quarter. Caldwell Trust Co now owns 662 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 149 shares during the last quarter. SJS Investment Consulting Inc. lifted its position in Omnicom Group by 39.1% during the first quarter. SJS Investment Consulting Inc. now owns 544 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 153 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC grew its stake in Omnicom Group by 3.5% in the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 4,897 shares of the business services provider’s stock worth $395,000 after buying an additional 167 shares in the last quarter. Finally, Binnacle Investments Inc grew its stake in Omnicom Group by 17.7% in the 2nd quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider’s stock worth $81,000 after buying an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analyst Ratings Changes

OMC has been the topic of a number of research analyst reports. Citigroup decreased their price target on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Rothschild & Co Redburn started coverage on shares of Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective for the company. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. The Goldman Sachs Group initiated coverage on Omnicom Group in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price on the stock. Finally, Zacks Research downgraded Omnicom Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Stock Performance

NYSE:OMC opened at $87.87 on Friday. The company has a market capitalization of $24.11 billion, a price-to-earnings ratio of 75.75, a PEG ratio of 0.58 and a beta of 0.64. The business has a 50 day moving average of $80.34 and a 200 day moving average of $77.57. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $88.55.

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

Omnicom Group Dividend Announcement

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

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.