Plato Investment Management Ltd Buys New Holdings in Omnicom Group Inc. $OMC

Plato Investment Management Ltd purchased a new position in Omnicom Group Inc. (NYSE:OMC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 11,419 shares of the business services provider’s stock, valued at approximately $827,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Activest Wealth Management raised its position in shares of Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after buying an additional 296 shares during the last quarter. Bayforest Capital Ltd purchased a new position in shares of Omnicom Group in the fourth quarter worth $26,000. Elyxium Wealth LLC bought a new position in shares of Omnicom Group during the fourth quarter worth $26,000. Legacy Wealth Managment LLC ID boosted its position in shares of Omnicom Group by 111.4% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares during the last quarter. Finally, EFG International AG purchased a new position in Omnicom Group during the fourth quarter valued at $28,000. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Trading Up 1.1%

Shares of OMC opened at $86.40 on Wednesday. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $88.55. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92. The company’s fifty day moving average is $79.62 and its 200 day moving average is $77.34. The stock has a market capitalization of $23.70 billion, a PE ratio of 74.49, a P/E/G ratio of 0.58 and a beta of 0.64.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data 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). Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The business had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the previous year, the business earned $2.05 earnings per share. The business’s quarterly revenue was up 63.4% on a year-over-year basis. Sell-side analysts expect that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 3.7%. Omnicom Group’s dividend payout ratio is currently 275.86%.

Wall Street Analyst Weigh In

OMC has been the topic of a number of research reports. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Citigroup dropped their price objective on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Morgan Stanley raised their price objective on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Wells Fargo & Company boosted their target price on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Finally, Rothschild & Co Redburn initiated coverage on Omnicom Group in a research note on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target for the company. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $99.00.

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.