Omnicom Group Inc. (OMC) is Cooke & Bieler LP’s 3rd Largest Position
Cooke & Bieler LP cut its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 11.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,423,056 shares of the company’s stock after selling 192,514 shares during the period. Omnicom Group makes up about 2.6% of Cooke & Bieler LP’s portfolio, making the stock its 3rd largest position. Cooke & Bieler LP owned approximately 0.60% of Omnicom Group worth $115,964,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Thomaspartners Inc. raised its stake in Omnicom Group by 1.8% in the first quarter. Thomaspartners Inc. now owns 1,672,711 shares of the company’s stock worth $139,220,000 after buying an additional 30,109 shares in the last quarter. Wellington Management Group LLP acquired a new stake in Omnicom Group during the first quarter worth approximately $40,095,000. Geode Capital Management LLC raised its stake in Omnicom Group by 5.4% in the first quarter. Geode Capital Management LLC now owns 2,029,274 shares of the company’s stock worth $168,569,000 after buying an additional 103,737 shares in the last quarter. Sentry Investments Corp. raised its stake in Omnicom Group by 0.7% in the first quarter. Sentry Investments Corp. now owns 1,096,490 shares of the company’s stock worth $91,261,000 after buying an additional 7,600 shares in the last quarter. Finally, Riverhead Capital Management LLC raised its stake in Omnicom Group by 194.5% in the first quarter. Riverhead Capital Management LLC now owns 348,471 shares of the company’s stock worth $29,002,000 after buying an additional 230,146 shares in the last quarter. 97.02% of the stock is currently owned by hedge funds and other institutional investors.
Omnicom Group Inc. (NYSE:OMC) traded down 0.05% on Monday, reaching $82.83. The company’s stock had a trading volume of 2,699,070 shares. Omnicom Group Inc. has a 52-week low of $66.48 and a 52-week high of $87.50. The company has a market cap of $19.59 billion, a P/E ratio of 18.12 and a beta of 1.35. The firm’s 50-day moving average price is $84.41 and its 200 day moving average price is $83.41.
A number of equities research analysts have recently commented on OMC shares. Credit Suisse Group AG started coverage on Omnicom Group in a research report on Thursday, September 15th. They set a “neutral” rating and a $83.00 price target on the stock. Zacks Investment Research raised Omnicom Group from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. RBC Capital Markets reaffirmed a “hold” rating and set a $87.00 price target on shares of Omnicom Group in a research report on Sunday, October 9th. Telsey Advisory Group raised their price target on Omnicom Group from $79.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 20th. Finally, Royal Bank Of Canada started coverage on Omnicom Group in a research report on Friday, October 7th. They set a “sector perform” rating and a $87.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Omnicom Group currently has an average rating of “Hold” and a consensus price target of $83.86.
In related news, Director Linda Johnson Rice sold 824 shares of the company’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $84.55, for a total transaction of $69,669.20. Following the sale, the director now owns 30,440 shares in the company, valued at approximately $2,573,702. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.
Omnicom Group Company Profile
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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