Barclays Cuts Omnicom Group (NYSE:OMC) Price Target to $110.00

Omnicom Group (NYSE:OMC) had its target price cut by Barclays from $121.00 to $110.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

OMC has been the subject of several other research reports. Wells Fargo & Company cut their target price on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 10th. JPMorgan Chase & Co. lifted their price objective on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. UBS Group increased their target price on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Macquarie reissued an “outperform” rating and issued a $120.00 price objective on shares of Omnicom Group in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $108.63.

Omnicom Group Trading Up 0.5 %

Shares of Omnicom Group stock opened at $86.60 on Friday. Omnicom Group has a 1-year low of $81.42 and a 1-year high of $107.00. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. The stock has a market cap of $16.90 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.88 and a beta of 0.98. The stock’s 50 day simple moving average is $91.65 and its 200-day simple moving average is $96.41.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 20th were given a $0.70 dividend. The ex-dividend date was Friday, December 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.23%. Omnicom Group’s payout ratio is currently 38.25%.

Institutional Investors Weigh In On Omnicom Group

Institutional investors have recently modified their holdings of the company. State Street Corp lifted its holdings in Omnicom Group by 5.7% in the third quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock valued at $1,468,615,000 after buying an additional 759,980 shares during the period. World Investment Advisors LLC grew its position in shares of Omnicom Group by 4,413.3% in the 3rd quarter. World Investment Advisors LLC now owns 383,448 shares of the business services provider’s stock valued at $39,645,000 after purchasing an additional 374,952 shares during the period. Millennium Management LLC raised its holdings in Omnicom Group by 73.0% during the 2nd quarter. Millennium Management LLC now owns 768,328 shares of the business services provider’s stock worth $68,919,000 after buying an additional 324,196 shares during the period. International Assets Investment Management LLC lifted its stake in Omnicom Group by 389,021.8% in the third quarter. International Assets Investment Management LLC now owns 214,017 shares of the business services provider’s stock valued at $22,127,000 after buying an additional 213,962 shares in the last quarter. Finally, Arvest Bank Trust Division acquired a new position in shares of Omnicom Group in the third quarter valued at approximately $21,191,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Company Profile

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.