Omnicom Group Inc. $OMC Shares Purchased by Gotham Asset Management LLC

Gotham Asset Management LLC raised its holdings in Omnicom Group Inc. (NYSE:OMC) by 17.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 445,107 shares of the business services provider’s stock after buying an additional 66,394 shares during the quarter. Gotham Asset Management LLC’s holdings in Omnicom Group were worth $36,290,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of OMC. First Eagle Investment Management LLC purchased a new position in shares of Omnicom Group during the 3rd quarter worth about $515,145,000. JPMorgan Chase & Co. grew its holdings in Omnicom Group by 117.9% in the second quarter. JPMorgan Chase & Co. now owns 6,213,705 shares of the business services provider’s stock valued at $447,017,000 after purchasing an additional 3,362,411 shares during the period. Bank of New York Mellon Corp grew its holdings in Omnicom Group by 73.6% in the third quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock valued at $542,376,000 after purchasing an additional 2,820,553 shares during the period. Charles Schwab Investment Management Inc. increased its position in Omnicom Group by 38.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,514,628 shares of the business services provider’s stock worth $324,782,000 after purchasing an additional 1,255,197 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in Omnicom Group during the second quarter worth approximately $67,048,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on OMC. Barclays lifted their price target on shares of Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Bank of America restated an “underperform” rating and set a $77.00 price objective (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research report on Thursday, January 22nd. Morgan Stanley began coverage on Omnicom Group in a report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 target price on the stock. Finally, UBS Group boosted their price target on Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $95.00.

Omnicom Group Trading Down 0.2%

Shares of OMC stock opened at $77.74 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.60. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $87.17. The firm’s 50 day moving average price is $77.76 and its two-hundred day moving average price is $77.10. The stock has a market cap of $24.13 billion, a price-to-earnings ratio of 158.66, a price-to-earnings-growth ratio of 0.75 and a beta of 0.71.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Wednesday, February 18th. The business services provider reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.94 by ($0.35). Omnicom Group had a positive return on equity of 25.65% and a negative net margin of 0.32%.The business had revenue of $5.53 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same period in the previous year, the company earned $2.41 EPS. Omnicom Group’s revenue was up 27.9% on a year-over-year basis. On average, analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Wednesday, March 11th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, March 11th. Omnicom Group’s dividend payout ratio is 653.06%.

Omnicom Group declared that its board has approved a stock repurchase plan on Wednesday, February 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 38.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Omnicom Group Company Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.