Cooke & Bieler LP Sells 623,203 Shares of Omnicom Group Inc. $OMC

Cooke & Bieler LP lessened its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 27.5% in the 3rd quarter, Holdings Channel reports. The fund owned 1,642,016 shares of the business services provider’s stock after selling 623,203 shares during the quarter. Omnicom Group accounts for 1.8% of Cooke & Bieler LP’s holdings, making the stock its 14th largest holding. Cooke & Bieler LP’s holdings in Omnicom Group were worth $120,902,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Omnicom Group by 2.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 112,183 shares of the business services provider’s stock worth $8,260,000 after purchasing an additional 3,195 shares during the last quarter. MBM Wealth Consultants LLC increased its holdings in shares of Omnicom Group by 19.9% in the third quarter. MBM Wealth Consultants LLC now owns 8,151 shares of the business services provider’s stock valued at $600,000 after purchasing an additional 1,352 shares during the last quarter. Gold Investment Management Ltd. increased its holdings in shares of Omnicom Group by 2.7% in the third quarter. Gold Investment Management Ltd. now owns 15,998 shares of the business services provider’s stock valued at $1,178,000 after purchasing an additional 414 shares during the last quarter. Brown Lisle Cummings Inc. lifted its position in Omnicom Group by 4.3% during the third quarter. Brown Lisle Cummings Inc. now owns 4,899 shares of the business services provider’s stock worth $361,000 after buying an additional 200 shares in the last quarter. Finally, Burns Matteson Capital Management LLC purchased a new position in Omnicom Group during the third quarter worth approximately $594,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Performance

NYSE:OMC opened at $80.46 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. The firm has a market capitalization of $22.07 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 0.68 and a beta of 0.68. The company’s 50-day moving average is $80.64 and its two-hundred day moving average is $78.44. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $89.57.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.02). The firm had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The business’s quarterly revenue was up 63.4% on a year-over-year basis. During the same period last year, the company earned $2.05 EPS. Analysts forecast that Omnicom Group Inc. will post 10.50 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on OMC shares. Barclays lowered their price objective on Omnicom Group from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Friday, October 9th. Citigroup cut their target price on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Wells Fargo & Company raised their target price on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Argus upgraded Omnicom Group to a “hold” rating in a report on Monday, September 14th. Finally, Weiss Ratings raised shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $98.75.

Insider Activity at Omnicom Group

In related news, Director Linda Rice sold 1,385 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the transaction, the director directly owned 11,719 shares in the company, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company’s stock.

Omnicom Group Profile

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management, and digital marketing services. The company works with organizations across industries to develop brand strategies, create content, manage media campaigns, and engage customers through traditional and digital channels.

Omnicom operates through a network of independently branded agencies, including BBDO Worldwide, DDB Worldwide, TBWA Worldwide, Omnicom Media Group, FleishmanHillard, Ketchum, Porter Novelli, RAPP, and several specialized healthcare, experiential, and data-driven marketing agencies.