Clark Estates Inc. NY Cuts Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Posted by Defense World Staff on Mar 9th, 2023

Clark Estates Inc. NY reduced its holdings in shares of Omnicom Group Inc. (NYSE:OMC – Get Rating) by 57.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,400 shares of the business services provider’s stock after selling 80,000 shares during the quarter. Clark Estates Inc. NY’s holdings in Omnicom Group were worth $3,748,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Omnicom Group by 4.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,964 shares of the business services provider’s stock valued at $2,374,000 after buying an additional 1,284 shares during the last quarter. Aviva PLC raised its stake in Omnicom Group by 27.0% during the 1st quarter. Aviva PLC now owns 81,054 shares of the business services provider’s stock valued at $6,880,000 after acquiring an additional 17,251 shares during the last quarter. Prudential PLC acquired a new stake in Omnicom Group during the 1st quarter worth approximately $503,000. National Pension Service increased its holdings in shares of Omnicom Group by 644.1% in the first quarter. National Pension Service now owns 407,387 shares of the business services provider’s stock valued at $34,579,000 after purchasing an additional 352,639 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Omnicom Group during the first quarter worth $929,000. Hedge funds and other institutional investors own 90.20% of the company’s stock.

Omnicom Group Stock Performance

Shares of OMC stock opened at $90.06 on Thursday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.89 and a current ratio of 0.97. The firm has a market capitalization of $18.26 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 2.94 and a beta of 0.83. Omnicom Group Inc. has a one year low of $61.31 and a one year high of $96.52. The company has a 50 day moving average price of $88.20 and a 200 day moving average price of $77.55.

Omnicom Group (NYSE:OMC – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.15. Omnicom Group had a return on equity of 41.20% and a net margin of 9.21%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the firm posted $1.95 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. Sell-side analysts anticipate that Omnicom Group Inc. will post 7.15 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Friday, March 10th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, March 9th. Omnicom Group’s dividend payout ratio is currently 43.96%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OMC. Barclays boosted their price objective on shares of Omnicom Group from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Thursday, February 9th. JPMorgan Chase & Co. raised their price objective on shares of Omnicom Group from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, February 8th. Morgan Stanley raised Omnicom Group from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $85.00 to $95.00 in a research note on Wednesday, February 8th. Finally, Wells Fargo & Company raised their price target on Omnicom Group from $84.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, February 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $97.00.

Omnicom Group Company Profile

(Get Rating)

Omnicom Group, Inc is a holding company, which engages in the provision of advertising, marketing and corporate communications services. Its agency networks operate in the advertising, marketing, and corporate communications services industry, which are organized into regions, which are the Americas, EMEA and Asia-Pacific.