Capstone Asset Management Co. Purchases 2,330 Shares of Omnicom Group Inc. (OMC)
Capstone Asset Management Co. boosted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 6.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,117 shares of the company’s stock after buying an additional 2,330 shares during the period. Capstone Asset Management Co.’s holdings in Omnicom Group were worth $3,495,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the stock. Janus Capital Management LLC increased its position in Omnicom Group by 24.5% in the second quarter. Janus Capital Management LLC now owns 3,371,376 shares of the company’s stock worth $274,733,000 after buying an additional 662,404 shares during the period. Emerald Acquisition Ltd. bought a new position in Omnicom Group during the second quarter worth about $40,919,000. Bank of Montreal Can bought a new position in Omnicom Group during the second quarter worth about $40,767,000. Mackenzie Financial Corp increased its position in Omnicom Group by 11.6% in the second quarter. Mackenzie Financial Corp now owns 4,021,970 shares of the company’s stock worth $327,750,000 after buying an additional 417,049 shares during the period. Finally, Panagora Asset Management Inc. increased its position in Omnicom Group by 86.3% in the second quarter. Panagora Asset Management Inc. now owns 897,099 shares of the company’s stock worth $73,105,000 after buying an additional 415,671 shares during the period. Institutional investors own 95.24% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE:OMC) traded down 1.58% during midday trading on Wednesday, reaching $86.94. 1,967,432 shares of the company’s stock were exchanged. The stock has a market cap of $20.51 billion, a price-to-earnings ratio of 18.64 and a beta of 1.25. Omnicom Group Inc. has a one year low of $66.48 and a one year high of $88.79. The firm has a 50 day moving average of $82.40 and a 200-day moving average of $83.10.
Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 18th. The company reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.03. Omnicom Group had a net margin of 7.32% and a return on equity of 39.38%. The business earned $3.79 billion during the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts anticipate that Omnicom Group Inc. will post $4.75 earnings per share for the current year.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 17th. Pivotal Research lifted their price target on Omnicom Group from $79.00 to $86.00 and gave the company a “hold” rating in a research note on Monday, October 17th. Credit Suisse Group AG assumed coverage on Omnicom Group in a research note on Thursday, September 15th. They set a “neutral” rating and a $83.00 price target for the company. RBC Capital Markets assumed coverage on Omnicom Group in a research note on Thursday, October 6th. They set a “sector perform” rating and a $87.00 price target for the company. Finally, Royal Bank Of Canada assumed coverage on Omnicom Group in a research note on Friday, October 7th. They set a “sector perform” rating and a $87.00 price target for the company. Thirteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Omnicom Group presently has an average rating of “Hold” and an average price target of $83.86.
In other news, Director Leonard S. Coleman, Jr. sold 986 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $87.74, for a total transaction of $86,511.64. Following the sale, the director now owns 26,829 shares in the company, valued at $2,353,976.46. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Treasurer Dennis E. Hewitt sold 1,000 shares of the stock in a transaction that occurred on Friday, October 21st. The shares were sold at an average price of $79.57, for a total transaction of $79,570.00. Following the sale, the treasurer now owns 38,075 shares in the company, valued at approximately $3,029,627.75. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
About Omnicom Group
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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