JPMorgan Chase & Co. Lowers Omnicom Group (NYSE:OMC) Price Target to $116.00

Omnicom Group (NYSE:OMC) had its price target cut by JPMorgan Chase & Co. from $119.00 to $116.00 in a research report released on Monday,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Several other equities research analysts have also recently commented on the company. Macquarie restated an “outperform” rating and set a $120.00 price target on shares of Omnicom Group in a research note on Wednesday, December 11th. Wells Fargo & Company cut their price target 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. UBS Group upped their price target 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, Barclays cut their price target on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $108.25.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $88.33 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. Omnicom Group has a twelve month low of $81.42 and a twelve month high of $107.00. The stock has a 50 day moving average of $91.65 and a two-hundred day moving average of $96.44. The stock has a market cap of $17.23 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.88 and a beta of 0.98.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 20th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.17%. Omnicom Group’s payout ratio is currently 38.25%.

Institutional Investors Weigh In On Omnicom Group

Several hedge funds have recently modified their holdings of OMC. ST Germain D J Co. Inc. purchased a new stake in shares of Omnicom Group during the 4th quarter valued at about $25,000. Versant Capital Management Inc raised its holdings in shares of Omnicom Group by 645.2% during the 4th quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock valued at $27,000 after buying an additional 271 shares during the period. Northwest Investment Counselors LLC purchased a new stake in shares of Omnicom Group during the 3rd quarter valued at about $33,000. Davis Capital Management purchased a new stake in shares of Omnicom Group during the 3rd quarter valued at about $36,000. Finally, HM Payson & Co. grew its stake in Omnicom Group by 84.5% during the 3rd quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 169 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

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.