California State Teachers Retirement System Sells 39,862 Shares of Omnicom Group Inc. (OMC)

California State Teachers Retirement System lessened its position in shares of Omnicom Group Inc. (NYSE:OMC) by 8.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 430,469 shares of the business services provider’s stock after selling 39,862 shares during the period. California State Teachers Retirement System owned 0.19% of Omnicom Group worth $35,686,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of OMC. BlackRock Inc. lifted its position in shares of Omnicom Group by 3,091.8% during the 1st quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock valued at $1,469,108,000 after buying an additional 16,507,161 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Omnicom Group by 15,279.3% during the 2nd quarter. Janus Henderson Group PLC now owns 4,996,274 shares of the business services provider’s stock valued at $414,191,000 after buying an additional 4,963,787 shares during the last quarter. Beutel Goodman & Co Ltd. purchased a new position in shares of Omnicom Group during the 2nd quarter valued at $153,358,000. Nordea Investment Management AB lifted its position in shares of Omnicom Group by 501.5% during the 2nd quarter. Nordea Investment Management AB now owns 2,201,826 shares of the business services provider’s stock valued at $182,531,000 after buying an additional 1,835,749 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Omnicom Group by 90.0% during the 2nd quarter. Alliancebernstein L.P. now owns 2,652,302 shares of the business services provider’s stock valued at $219,876,000 after buying an additional 1,256,005 shares during the last quarter. 98.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Omnicom Group Inc. (NYSE:OMC) traded down 0.12% during mid-day trading on Friday, reaching $74.27. The company had a trading volume of 242,707 shares. The firm has a 50 day moving average of $73.85 and a 200-day moving average of $80.07. Omnicom Group Inc. has a one year low of $71.63 and a one year high of $89.66. The stock has a market capitalization of $17.14 billion, a P/E ratio of 15.00 and a beta of 1.28.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.02. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the previous year, the business earned $1.36 earnings per share. The business’s revenue was down 2.4% on a year-over-year basis. Analysts forecast that Omnicom Group Inc. will post $5.09 EPS for the current fiscal year.

A number of research analysts have recently commented on OMC shares. Zacks Investment Research raised Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Friday, July 14th. BidaskClub cut Omnicom Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada set a $96.00 price target on Omnicom Group and gave the company a “buy” rating in a research report on Saturday, July 22nd. BMO Capital Markets reaffirmed a “hold” rating and set a $85.00 price target on shares of Omnicom Group in a research report on Wednesday, September 13th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $82.00 price target on shares of Omnicom Group in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $85.08.

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In other news, Director Linda Johnson Rice sold 483 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $82.19, for a total value of $39,697.77. Following the transaction, the director now directly owns 7,724 shares in the company, valued at $634,835.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Treasurer Dennis E. Hewitt sold 900 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total value of $71,199.00. Following the completion of the transaction, the treasurer now owns 44,161 shares in the company, valued at $3,493,576.71. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Omnicom Group Company Profile

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

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