Omnicom Group Inc. (NYSE:OMC) Stock Position Raised by Cairn Investment Group Inc.

Posted by Gary Stephens on Mar 19th, 2023

Cairn Investment Group Inc. lifted its position in Omnicom Group Inc. (NYSE:OMC – Get Rating) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,506 shares of the business services provider’s stock after buying an additional 665 shares during the quarter. Omnicom Group makes up 2.6% of Cairn Investment Group Inc.’s investment portfolio, making the stock its 10th largest holding. Cairn Investment Group Inc.’s holdings in Omnicom Group were worth $3,467,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of OMC. Ronald Blue Trust Inc. purchased a new position in Omnicom Group in the second quarter worth approximately $27,000. Hexagon Capital Partners LLC lifted its stake in Omnicom Group by 112.6% in the third quarter. Hexagon Capital Partners LLC now owns 691 shares of the business services provider’s stock worth $44,000 after acquiring an additional 366 shares during the last quarter. Private Trust Co. NA purchased a new position in Omnicom Group in the second quarter worth approximately $44,000. Parkside Financial Bank & Trust lifted its stake in Omnicom Group by 30.8% in the third quarter. Parkside Financial Bank & Trust now owns 908 shares of the business services provider’s stock worth $58,000 after acquiring an additional 214 shares during the last quarter. Finally, MinichMacGregor Wealth Management LLC purchased a new position in Omnicom Group in the fourth quarter worth approximately $83,000. Hedge funds and other institutional investors own 90.20% of the company’s stock.

Omnicom Group Stock Down 1.3 %

OMC stock opened at $86.17 on Friday. The company has a fifty day moving average price of $88.70 and a 200 day moving average price of $78.42. Omnicom Group Inc. has a 12 month low of $61.31 and a 12 month high of $96.52. The company has a market cap of $17.47 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 2.80 and a beta of 0.83. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.97 and a quick ratio of 0.89.

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

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Shareholders of record on Friday, March 10th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $2.80 annualized dividend and a yield of 3.25%. Omnicom Group’s dividend payout ratio is currently 43.96%.

Wall Street Analysts Forecast Growth

OMC has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Omnicom Group from $91.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 8th. Wells Fargo & Company boosted their price objective on shares of Omnicom Group from $84.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 8th. Barclays boosted their price objective on shares of Omnicom Group from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 9th. Morgan Stanley upgraded shares of Omnicom Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $85.00 to $95.00 in a research report on Wednesday, February 8th. Finally, StockNews.com assumed coverage on shares of Omnicom Group in a research report on Thursday. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $97.33.

Omnicom Group Profile

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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.