Cibc World Market Inc. Reduces Stock Holdings in Omnicom Group Inc. $OMC

Cibc World Market Inc. lowered its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 8.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,125 shares of the business services provider’s stock after selling 10,965 shares during the quarter. Cibc World Market Inc. owned approximately 0.06% of Omnicom Group worth $9,305,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in Omnicom Group by 117.9% in the second quarter. JPMorgan Chase & Co. now owns 6,213,705 shares of the business services provider’s stock worth $447,017,000 after acquiring an additional 3,362,411 shares during the period. Bank of New York Mellon Corp grew its holdings in Omnicom Group by 73.6% during the third quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock valued at $542,376,000 after purchasing an additional 2,820,553 shares during the period. Charles Schwab Investment Management Inc. increased its position in Omnicom Group by 38.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,514,628 shares of the business services provider’s stock worth $324,782,000 after buying an additional 1,255,197 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Omnicom Group in the second quarter worth about $67,048,000. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Omnicom Group by 9.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,869,786 shares of the business services provider’s stock valued at $566,152,000 after buying an additional 691,560 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Barclays increased their target price on shares of Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. UBS Group lifted their target price on shares of Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday, January 22nd. Morgan Stanley initiated coverage on Omnicom Group in a research report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price objective on the stock. Finally, Bank of America reiterated an “underperform” rating and set a $77.00 target price (down previously from $87.00) on shares of Omnicom Group in a research report on Monday, January 5th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Omnicom Group has a consensus rating of “Hold” and a consensus price target of $92.14.

Omnicom Group Trading Up 2.7%

OMC stock opened at $69.07 on Friday. The firm has a fifty day moving average price of $77.34 and a 200 day moving average price of $76.31. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $89.27. The firm has a market cap of $13.33 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 1.09 and a beta of 0.74. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92.

Omnicom Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 19th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, December 19th. This is a positive change from Omnicom Group’s previous quarterly dividend of $0.70. Omnicom Group’s payout ratio is 47.27%.

Omnicom Group Company 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.