Omnicom Group Inc. $OMC Shares Acquired by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY increased its stake in Omnicom Group Inc. (NYSE:OMC) by 9,971.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 575,156 shares of the business services provider’s stock after buying an additional 569,445 shares during the period. Omnicom Group makes up approximately 1.4% of Miller Howard Investments Inc. NY’s holdings, making the stock its 28th biggest position. Miller Howard Investments Inc. NY’s holdings in Omnicom Group were worth $46,444,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Bayforest Capital Ltd acquired a new position in shares of Omnicom Group in the 4th quarter worth $26,000. Cornerstone Planning Group LLC grew its holdings in shares of Omnicom Group by 2,126.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock worth $27,000 after acquiring an additional 319 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Omnicom Group by 289.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock worth $30,000 after acquiring an additional 272 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Omnicom Group in the 4th quarter worth $32,000. Finally, Westside Investment Management Inc. grew its holdings in shares of Omnicom Group by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 404 shares of the business services provider’s stock worth $31,000 after acquiring an additional 202 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on OMC shares. Bank of America restated an “underperform” rating and issued a $77.00 target price (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Citigroup lifted their target price on Omnicom Group from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Barclays lifted their target price on Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Finally, Argus raised Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.86.

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $78.62 on Monday. The stock has a market cap of $22.40 billion, a PE ratio of 160.44, a price-to-earnings-growth ratio of 0.60 and a beta of 0.73. The business has a fifty day simple moving average of $77.27 and a 200-day simple moving average of $76.86. 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 12 month low of $66.33 and a 12 month high of $87.17.

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

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Wednesday, March 11th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Wednesday, March 11th. Omnicom Group’s dividend payout ratio (DPR) is 653.06%.

Omnicom Group announced that its Board of Directors has approved a stock buyback program on Wednesday, February 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the business services provider to buy up to 38.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Omnicom Group 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.