Coho Partners Ltd. Has $171.76 Million Stake in Omnicom Group Inc. (OMC)
Coho Partners Ltd. raised its position in Omnicom Group Inc. (NYSE:OMC) by 24.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,071,844 shares of the business services provider’s stock after buying an additional 406,480 shares during the period. Omnicom Group accounts for about 4.3% of Coho Partners Ltd.’s portfolio, making the stock its 10th largest position. Coho Partners Ltd. owned approximately 0.90% of Omnicom Group worth $171,756,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC increased its position in Omnicom Group by 8.7% in the second quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock worth $102,000 after buying an additional 104 shares during the last quarter. Dupont Capital Management Corp acquired a new position in Omnicom Group during the second quarter worth about $104,000. Invictus RG increased its position in Omnicom Group by 1,098.2% in the first quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock worth $170,000 after buying an additional 1,812 shares during the last quarter. FNY Partners Fund LP increased its position in Omnicom Group by 46.7% in the first quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock worth $189,000 after buying an additional 700 shares during the last quarter. Finally, Global X Management Co. LLC increased its position in Omnicom Group by 29.4% in the first quarter. Global X Management Co. LLC now owns 2,245 shares of the business services provider’s stock worth $194,000 after buying an additional 510 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.
Omnicom Group Inc. (NYSE:OMC) traded up 1.41% during trading on Friday, hitting $74.04. 435,799 shares of the stock traded hands. The stock has a market cap of $17.09 billion, a P/E ratio of 14.95 and a beta of 1.25. Omnicom Group Inc. has a 52 week low of $72.64 and a 52 week high of $89.66. The firm’s 50-day moving average is $79.24 and its 200 day moving average is $82.81.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.02. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period last year, the company earned $1.36 earnings per share. The firm’s revenue was down 2.4% compared to the same quarter last year. Equities research analysts forecast that Omnicom Group Inc. will post $5.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.20 dividend on an annualized basis and a yield of 3.01%. Omnicom Group’s payout ratio is currently 44.44%.
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OMC has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Friday, July 14th. Royal Bank Of Canada set a $96.00 price objective on shares of Omnicom Group and gave the stock a “buy” rating in a report on Tuesday, June 20th. Wells Fargo & Company reaffirmed a “hold” rating and issued a $84.00 price objective on shares of Omnicom Group in a report on Tuesday, July 18th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $82.00 price objective on shares of Omnicom Group in a report on Friday, July 14th. Finally, Macquarie cut shares of Omnicom Group from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $90.00 to $83.00 in a report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $86.00.
In other Omnicom Group news, Treasurer Dennis E. Hewitt sold 900 shares of Omnicom Group stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total value of $71,199.00. Following the completion of the sale, the treasurer now directly owns 44,161 shares in the company, valued at $3,493,576.71. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Bruce Crawford sold 22,800 shares of Omnicom Group stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $84.91, for a total value of $1,935,948.00. Following the completion of the sale, the chairman now owns 105,250 shares of the company’s stock, valued at $8,936,777.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,183 shares of company stock valued at $2,046,845. 1.10% of the stock is currently owned by corporate insiders.
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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