Cooke & Bieler LP Sells 74,729 Shares of Omnicom Group Inc. $OMC

Cooke & Bieler LP cut its position in shares of Omnicom Group Inc. (NYSE:OMC) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,269,871 shares of the business services provider’s stock after selling 74,729 shares during the period. Omnicom Group accounts for about 1.9% of Cooke & Bieler LP’s investment portfolio, making the stock its 9th largest position. Cooke & Bieler LP owned approximately 1.18% of Omnicom Group worth $185,063,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in OMC. Bollard Group LLC increased its holdings in Omnicom Group by 6.0% in the second quarter. Bollard Group LLC now owns 2,569 shares of the business services provider’s stock worth $185,000 after buying an additional 145 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in Omnicom Group by 2.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 7,330 shares of the business services provider’s stock worth $598,000 after acquiring an additional 145 shares in the last quarter. Deseret Mutual Benefit Administrators increased its stake in shares of Omnicom Group by 7.9% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 2,031 shares of the business services provider’s stock worth $166,000 after purchasing an additional 149 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Omnicom Group by 4.3% during the 3rd quarter. Geneos Wealth Management Inc. now owns 3,746 shares of the business services provider’s stock worth $305,000 after purchasing an additional 156 shares during the last quarter. Finally, Resonant Capital Advisors LLC raised its holdings in shares of Omnicom Group by 2.7% during the 2nd quarter. Resonant Capital Advisors LLC now owns 6,288 shares of the business services provider’s stock valued at $457,000 after purchasing an additional 168 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Stock Performance

OMC opened at $79.81 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. The stock’s 50 day moving average price is $77.26 and its two-hundred day moving average price is $76.45. The firm has a market capitalization of $15.40 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 1.33 and a beta of 0.74. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $89.35.

Omnicom Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 19th were issued a $0.80 dividend. This is a boost from Omnicom Group’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, December 19th. This represents a $3.20 dividend on an annualized basis and a yield of 4.0%. Omnicom Group’s payout ratio is currently 47.27%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Morgan Stanley began coverage on Omnicom Group in a research report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday. Barclays increased their price objective on Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. Finally, Bank of America restated an “underperform” rating and issued a $77.00 target price (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $92.14.

Omnicom Group Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.