Omnicom Group Inc. (NYSE:OMC) Shares Sold by Whitnell & Co.

Whitnell & Co. trimmed its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 9.6% in the third quarter, Holdings Channel.com reports. The fund owned 25,536 shares of the business services provider’s stock after selling 2,699 shares during the period. Whitnell & Co.’s holdings in Omnicom Group were worth $1,999,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Clark Capital Management Group Inc. purchased a new stake in Omnicom Group in the 2nd quarter worth approximately $17,298,000. BBT Capital Management LLC purchased a new stake in Omnicom Group in the 2nd quarter worth approximately $202,000. Russell Investments Group Ltd. grew its stake in Omnicom Group by 16.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 644,553 shares of the business services provider’s stock worth $52,700,000 after acquiring an additional 90,328 shares during the period. Fiduciary Management Inc. WI grew its stake in Omnicom Group by 16.5% in the 2nd quarter. Fiduciary Management Inc. WI now owns 5,086,196 shares of the business services provider’s stock worth $416,814,000 after acquiring an additional 721,926 shares during the period. Finally, GHP Investment Advisors Inc. grew its stake in Omnicom Group by 11.2% in the 2nd quarter. GHP Investment Advisors Inc. now owns 12,915 shares of the business services provider’s stock worth $1,058,000 after acquiring an additional 1,302 shares during the period.

Shares of NYSE OMC traded up $0.50 during trading on Friday, hitting $80.77. 1,561,262 shares of the company traded hands, compared to its average volume of 1,850,284. The company has a quick ratio of 0.77, a current ratio of 0.87 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $17.20 billion, a P/E ratio of 14.05, a P/E/G ratio of 2.62 and a beta of 0.70. The company has a 50-day moving average price of $76.88 and a 200-day moving average price of $78.94. Omnicom Group Inc. has a 1 year low of $68.58 and a 1 year high of $85.05.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, October 15th. The business services provider reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.01. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.64 billion. Omnicom Group had a net margin of 8.88% and a return on equity of 44.02%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.32 EPS. Research analysts predict that Omnicom Group Inc. will post 6.02 EPS for the current fiscal year.

Several research firms have commented on OMC. Barclays set a $84.00 target price on shares of Omnicom Group and gave the stock a “hold” rating in a research note on Friday, September 27th. ValuEngine cut shares of Omnicom Group from a “hold” rating to a “sell” rating in a research note on Sunday, October 27th. BMO Capital Markets cut shares of Omnicom Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $88.00 to $86.00 in a research note on Sunday, July 14th. Citigroup lowered their price objective on shares of Omnicom Group from $87.00 to $86.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Finally, Wells Fargo & Co started coverage on shares of Omnicom Group in a research note on Monday, September 23rd. They set a “market perform” rating and a $81.00 price objective for the company. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Omnicom Group has a consensus rating of “Hold” and a consensus target price of $82.50.

In related news, Director Linda Johnson Rice sold 463 shares of Omnicom Group stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $77.14, for a total transaction of $35,715.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Andrew Castellaneta sold 3,000 shares of Omnicom Group stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $75.78, for a total transaction of $227,340.00. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Omnicom Group Profile

Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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