Omnicom Group (NYSE:OMC) Given New $110.00 Price Target at Barclays

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

Several other analysts also recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, December 10th. JPMorgan Chase & Co. boosted their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report 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 report on Wednesday, October 16th. Finally, Macquarie reiterated an “outperform” rating and set a $120.00 price objective on shares of Omnicom Group in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $108.63.

Omnicom Group Stock Up 0.5 %

Shares of OMC stock opened at $86.60 on Friday. Omnicom Group has a 52-week low of $81.42 and a 52-week high of $107.00. The stock has a market cap of $16.90 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.88 and a beta of 0.98. The firm’s 50-day moving average is $91.65 and its 200-day moving average is $96.41. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98.

Omnicom Group Announces Dividend

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

Institutional Investors Weigh In On Omnicom Group

A number of institutional investors and hedge funds have recently made changes to their positions in OMC. State Street Corp raised its position in Omnicom Group by 5.7% in the 3rd 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 last quarter. Geode Capital Management LLC increased its stake in Omnicom Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,100,560 shares of the business services provider’s stock valued at $525,960,000 after buying an additional 72,447 shares during the last quarter. Barclays PLC increased its position in shares of Omnicom Group by 1.7% during the third quarter. Barclays PLC now owns 819,613 shares of the business services provider’s stock valued at $84,741,000 after acquiring an additional 13,637 shares during the last quarter. Millennium Management LLC grew its stake in Omnicom Group by 73.0% in the 2nd quarter. Millennium Management LLC now owns 768,328 shares of the business services provider’s stock valued at $68,919,000 after purchasing an additional 324,196 shares during the period. Finally, Bank of Montreal Can increased its position in shares of Omnicom Group by 23.6% during the 3rd quarter. Bank of Montreal Can now owns 705,806 shares of the business services provider’s stock valued at $72,465,000 after purchasing an additional 134,927 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

About Omnicom Group

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.