Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Omnicom Group Inc. (NYSE:OMC – Free Report) by 38.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 49,651 shares of the business services provider’s stock after purchasing an additional 13,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Omnicom Group were worth $4,009,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Omnicom Group by 64.2% in the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock worth $3,143,930,000 after acquiring an additional 15,220,444 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in shares of Omnicom Group in the 3rd quarter worth approximately $515,145,000. Bank of New York Mellon Corp lifted its holdings in shares of Omnicom Group by 69.6% in the 4th quarter. Bank of New York Mellon Corp now owns 11,283,863 shares of the business services provider’s stock worth $911,172,000 after acquiring an additional 4,631,394 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Omnicom Group by 57.1% in the 4th quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock worth $690,327,000 after acquiring an additional 3,117,188 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Omnicom Group by 89.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,106,022 shares of the business services provider’s stock worth $493,061,000 after acquiring an additional 2,883,520 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently commented on OMC shares. Barclays upped their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. The Goldman Sachs Group started coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective on the stock. Argus upgraded shares of Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Rothschild & Co Redburn started coverage on shares of Omnicom Group in a report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $99.00.
Omnicom Group Price Performance
Omnicom Group stock opened at $75.12 on Tuesday. The firm has a market cap of $21.41 billion, a PE ratio of 192.62, a price-to-earnings-growth ratio of 0.45 and a beta of 0.64. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $87.17. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The company’s 50 day moving average is $75.45 and its two-hundred day moving average is $76.60.
Omnicom Group (NYSE:OMC – Get Free Report) last released its earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $6.24 billion for the quarter, compared to analyst estimates of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The firm’s quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.70 EPS. On average, research analysts expect that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.
Omnicom Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th will be issued a dividend of $0.80 per share. The ex-dividend date is Wednesday, June 10th. This represents a $3.20 dividend on an annualized basis and a yield of 4.3%. Omnicom Group’s dividend payout ratio is 820.51%.
Omnicom Group announced that its board has initiated a share buyback program on Wednesday, February 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the business services provider to purchase up to 38.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are 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.
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