Foster & Motley Inc. Trims Stake in Omnicom Group Inc. (NYSE:OMC)

Foster & Motley Inc. lessened its position in shares of Omnicom Group Inc. (NYSE:OMC) by 2.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 112,382 shares of the business services provider’s stock after selling 2,664 shares during the quarter. Foster & Motley Inc.’s holdings in Omnicom Group were worth $11,619,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in OMC. Jacobs Levy Equity Management Inc. grew its stake in shares of Omnicom Group by 319.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,450,160 shares of the business services provider’s stock valued at $140,317,000 after purchasing an additional 1,104,566 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Omnicom Group by 37.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock valued at $296,717,000 after buying an additional 892,494 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Omnicom Group in the 2nd quarter worth about $56,177,000. Boston Partners lifted its position in Omnicom Group by 11.0% during the first quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after buying an additional 383,560 shares in the last quarter. Finally, Scout Investments Inc. purchased a new stake in Omnicom Group during the 1st quarter worth $36,715,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $106.00 to $110.00 in a research report on Wednesday, October 16th. UBS Group boosted their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays boosted their price objective on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Bank of America lifted their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $110.11.

Insider Buying and Selling at Omnicom Group

In related news, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction on Friday, October 18th. The stock was sold at an average price of $105.29, for a total value of $421,160.00. Following the transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at $2,479,053.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the sale, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Omnicom Group Stock Up 1.2 %

OMC opened at $103.18 on Wednesday. The stock’s fifty day moving average is $101.50 and its 200-day moving average is $96.08. The company has a market capitalization of $20.13 billion, a PE ratio of 14.10, a P/E/G ratio of 2.27 and a beta of 0.95. Omnicom Group Inc. has a one year low of $74.41 and a one year high of $106.51. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the firm posted $1.86 EPS. On average, equities analysts predict that Omnicom Group Inc. will post 7.92 EPS for the current fiscal year.

About Omnicom Group

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.