Cascade Investment Advisors Inc. Sells 985 Shares of Omnicom Group Inc. (NYSE:OMC)

Cascade Investment Advisors Inc. lessened its position in shares of Omnicom Group Inc. (NYSE:OMC) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,774 shares of the business services provider’s stock after selling 985 shares during the period. Omnicom Group makes up about 1.2% of Cascade Investment Advisors Inc.’s portfolio, making the stock its 17th largest holding. Cascade Investment Advisors Inc.’s holdings in Omnicom Group were worth $1,548,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Omnicom Group by 11.8% during the second quarter. Vanguard Group Inc. now owns 24,748,714 shares of the business services provider’s stock worth $2,028,158,000 after buying an additional 2,606,099 shares during the period. BlackRock Inc. increased its position in shares of Omnicom Group by 6.2% during the second quarter. BlackRock Inc. now owns 17,320,377 shares of the business services provider’s stock worth $1,419,404,000 after buying an additional 1,014,998 shares during the period. Longview Partners Guernsey LTD increased its position in shares of Omnicom Group by 14.2% during the second quarter. Longview Partners Guernsey LTD now owns 7,650,110 shares of the business services provider’s stock worth $626,927,000 after buying an additional 951,339 shares during the period. Fiduciary Management Inc. WI increased its position in shares of Omnicom Group by 16.5% during the second quarter. Fiduciary Management Inc. WI now owns 5,086,196 shares of the business services provider’s stock worth $416,814,000 after buying an additional 721,926 shares during the period. Finally, Northern Trust Corp increased its position in shares of Omnicom Group by 1.7% during the second quarter. Northern Trust Corp now owns 3,800,721 shares of the business services provider’s stock worth $311,468,000 after buying an additional 62,032 shares during the period.

In related news, CAO Andrew Castellaneta sold 3,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $75.78, for a total transaction of $227,340.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

OMC opened at $75.38 on Tuesday. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.87 and a quick ratio of 0.77. The company’s 50-day moving average is $77.27 and its 200 day moving average is $78.93. Omnicom Group Inc. has a fifty-two week low of $68.58 and a fifty-two week high of $85.05. The firm has a market capitalization of $16.41 billion, a P/E ratio of 13.11, a PEG ratio of 2.50 and a beta of 0.71.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 15th. The business services provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.01. Omnicom Group had a net margin of 8.88% and a return on equity of 44.02%. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the firm earned $1.32 earnings per share. The firm’s revenue was down 2.4% on a year-over-year basis. On average, equities research analysts expect that Omnicom Group Inc. will post 6.02 earnings per share for the current year.

OMC has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Omnicom Group from a “sell” rating to a “hold” rating and set a $82.00 price objective for the company in a research report on Monday, October 14th. Citigroup dropped their price objective on shares of Omnicom Group from $87.00 to $86.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Wells Fargo & Co initiated coverage on shares of Omnicom Group in a research note on Monday, September 23rd. They issued a “market perform” rating and a $81.00 price objective on the stock. BMO Capital Markets lowered shares of Omnicom Group from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $88.00 to $86.00 in a research report on Sunday, July 14th. Finally, ValuEngine raised shares of Omnicom Group from a “sell” rating to a “hold” rating in a research report on Monday. Seven analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average target price of $82.50.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.

Read More: Asset Allocation

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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