Mackenzie Financial Corp Lowers stake in Omnicom Group (OMC)

Omnicom Group (OMC) : Mackenzie Financial Corp reduced its stake in Omnicom Group by 3.98% during the most recent quarter end. The investment management company now holds a total of 3,604,921 shares of Omnicom Group which is valued at $301.8 Million after selling 149,451 shares in Omnicom Group , the firm said in a disclosure report filed with the SEC on May 12, 2016.Omnicom Group makes up approximately 2.78% of Mackenzie Financial Corp’s portfolio.

Other Hedge Funds, Including , Baird Financial Group boosted its stake in OMC in the latest quarter, The investment management firm added 1,443 additional shares and now holds a total of 9,932 shares of Omnicom Group which is valued at $831,606. Omnicom Group makes up approx 0.01% of Baird Financial Group’s portfolio. Savant Capital added OMC to its portfolio by purchasing 2,779 company shares during the most recent quarter which is valued at $232,686. Omnicom Group makes up approx 0.07% of Savant Capital’s portfolio.Swiss National Bank boosted its stake in OMC in the latest quarter, The investment management firm added 189,200 additional shares and now holds a total of 629,477 shares of Omnicom Group which is valued at $52.9 Million. Omnicom Group makes up approx 0.09% of Swiss National Bank’s portfolio.

Omnicom Group opened for trading at $82.8 and hit $83.31 on the upside on Friday, eventually ending the session at $82.79, with a gain of 0.46% or 0.38 points. The heightened volatility saw the trading volume jump to 16,26,430 shares. Company has a market cap of $19,683,323 M.

On the company’s financial health, Omnicom Group reported $0.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $0.87. The company had revenue of $3499.10 million for the quarter, compared to analysts expectations of $3520.84 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS.

Many Wall Street Analysts have commented on Omnicom Group. Omnicom Group was Downgraded by Wells Fargo to ” Market Perform” on Apr 14, 2016.

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 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. Its services in these disciplines include advertising brand consultancy content marketing corporate social responsibility consulting crisis communications data analytics and database management among others. Its advertising brands include BBDO Worldwide DDB Worldwide and TBWA Worldwide. The Company’s branded agency networks operate in geographic regions including the Americas which includes North America and Latin America; EMEA which includes Europe the Middle East and Africa and Asia Pacific which includes Australia China India Japan Korea New Zealand Singapore and other Asian countries.

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