Cooke & Bieler LP decreased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 11.9% during the second quarter, Holdings Channel reports. The fund owned 1,423,056 shares of the company’s stock after selling 192,514 shares during the period. Omnicom Group makes up approximately 2.6% of Cooke & Bieler LP’s holdings, making the stock its 3rd largest position. Cooke & Bieler LP’s holdings in Omnicom Group were worth $115,964,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in OMC. Meeder Asset Management Inc. acquired a new stake in shares of Omnicom Group during the first quarter valued at approximately $110,000. Trust Department MB Financial Bank N A raised its stake in shares of Omnicom Group by 6.0% in the second quarter. Trust Department MB Financial Bank N A now owns 1,768 shares of the company’s stock valued at $123,000 after buying an additional 100 shares during the last quarter. City Holding Co. raised its stake in shares of Omnicom Group by 90.4% in the second quarter. City Holding Co. now owns 1,942 shares of the company’s stock valued at $158,000 after buying an additional 922 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in shares of Omnicom Group during the first quarter valued at approximately $218,000. Finally, Checchi Capital Advisers LLC raised its stake in shares of Omnicom Group by 1.0% in the second quarter. Checchi Capital Advisers LLC now owns 3,230 shares of the company’s stock valued at $263,000 after buying an additional 31 shares during the last quarter. Institutional investors own 97.02% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE:OMC) traded down 0.05% during trading on Monday, reaching $82.83. The company’s stock had a trading volume of 2,699,070 shares. Omnicom Group Inc. has a one year low of $66.48 and a one year high of $87.50. The firm’s 50-day moving average price is $84.41 and its 200-day moving average price is $83.41. The company has a market capitalization of $19.59 billion, a price-to-earnings ratio of 18.12 and a beta of 1.35.
A number of research analysts recently weighed in on the company. BMO Capital Markets reaffirmed a “hold” rating and set a $80.00 price target on shares of Omnicom Group in a research note on Sunday, July 17th. Zacks Investment Research downgraded Omnicom Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Pivotal Research upped their price target on Omnicom Group from $79.00 to $86.00 and gave the stock a “hold” rating in a research note on Monday. Albert Fried & Company reaffirmed a “hold” rating and set a $85.00 price target on shares of Omnicom Group in a research note on Thursday, July 14th. Finally, 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 on the stock. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $83.86.
In other news, Director Linda Johnson Rice sold 824 shares of Omnicom Group stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $84.55, for a total transaction of $69,669.20. Following the completion of the transaction, the director now directly owns 30,440 shares in the company, valued at $2,573,702. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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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