Mcrae Capital Management Inc. Cuts Stake in Omnicom Group Inc. (NYSE:OMC)

Mcrae Capital Management Inc. cut its stake in Omnicom Group Inc. (NYSE:OMC) by 0.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 203,059 shares of the business services provider’s stock after selling 665 shares during the quarter. Omnicom Group comprises approximately 3.4% of Mcrae Capital Management Inc.’s portfolio, making the stock its 11th biggest holding. Mcrae Capital Management Inc.’s holdings in Omnicom Group were worth $17,471,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC increased its position in shares of Omnicom Group by 62.0% during the third quarter. Exchange Traded Concepts LLC now owns 9,735 shares of the business services provider’s stock worth $1,007,000 after purchasing an additional 3,727 shares in the last quarter. Creative Planning grew its holdings in shares of Omnicom Group by 1.4% during the third quarter. Creative Planning now owns 59,611 shares of the business services provider’s stock worth $6,163,000 after buying an additional 808 shares in the last quarter. B.O.S.S. Retirement Advisors LLC raised its position in shares of Omnicom Group by 5.4% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 17,121 shares of the business services provider’s stock valued at $1,770,000 after buying an additional 880 shares during the last quarter. Mezzasalma Advisors LLC raised its position in shares of Omnicom Group by 6.4% in the third quarter. Mezzasalma Advisors LLC now owns 3,787 shares of the business services provider’s stock valued at $392,000 after buying an additional 229 shares during the last quarter. Finally, One Wealth Advisors LLC purchased a new position in shares of Omnicom Group in the third quarter worth about $208,000. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Price Performance

OMC stock opened at $81.89 on Friday. Omnicom Group Inc. has a 52-week low of $80.31 and a 52-week high of $107.00. The business has a fifty day moving average of $87.14 and a two-hundred day moving average of $95.75. The stock has a market cap of $16.09 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.94 and a beta of 0.97. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.27.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.03. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. During the same quarter in the prior year, the business posted $2.20 earnings per share. As a group, research analysts anticipate that Omnicom Group Inc. will post 8.32 earnings per share for the current year.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.42%. Omnicom Group’s dividend payout ratio (DPR) is 37.58%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OMC. Barclays cut their price objective on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Wells Fargo & Company cut their price target on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, December 10th. JPMorgan Chase & Co. reduced their price objective on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Finally, Macquarie restated an “outperform” rating and issued a $120.00 target price on shares of Omnicom Group in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Omnicom Group presently has an average rating of “Moderate Buy” and an average target price of $108.25.

Omnicom Group Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.