Beutel Goodman & Co Ltd. Has $239.85 Million Position in Omnicom Group Inc. $OMC

Beutel Goodman & Co Ltd. trimmed its stake in Omnicom Group Inc. (NYSE:OMC) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,333,998 shares of the business services provider’s stock after selling 87,166 shares during the period. Beutel Goodman & Co Ltd. owned about 1.72% of Omnicom Group worth $239,847,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Asset Planning Inc. acquired a new position in Omnicom Group in the second quarter valued at $29,000. Zions Bancorporation National Association UT bought a new stake in Omnicom Group during the 1st quarter valued at $34,000. Gen Wealth Partners Inc acquired a new stake in shares of Omnicom Group in the 1st quarter worth about $36,000. Ameritas Advisory Services LLC bought a new position in shares of Omnicom Group in the second quarter valued at approximately $34,000. Finally, Harbour Investments Inc. boosted its holdings in Omnicom Group by 39.1% during the 1st quarter. Harbour Investments Inc. now owns 616 shares of the business services provider’s stock worth $51,000 after acquiring an additional 173 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OMC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday, October 8th. Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $78.00 to $91.00 in a research report on Tuesday, September 23rd. Finally, Barclays raised their target price on Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.57.

Omnicom Group Stock Performance

Shares of NYSE:OMC opened at $70.15 on Friday. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $104.22. The firm’s 50-day moving average is $75.51 and its 200 day moving average is $74.71. The company has a market capitalization of $13.54 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 1.13 and a beta of 0.75. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, October 21st. The business services provider reported $2.24 EPS for the quarter, beating the consensus estimate of $2.17 by $0.07. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the firm posted $2.03 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Research analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 19th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, December 19th. This represents a $3.20 annualized dividend and a yield of 4.6%. This is an increase from Omnicom Group’s previous quarterly dividend of $0.70. Omnicom Group’s dividend payout ratio is currently 41.36%.

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.