Gotham Asset Management LLC lifted its holdings in shares of Omnicom Group Inc. (NYSE:OMC – Free Report) by 31.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 583,675 shares of the business services provider’s stock after purchasing an additional 138,568 shares during the quarter. Gotham Asset Management LLC owned 0.30% of Omnicom Group worth $47,132,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of OMC. Activest Wealth Management increased its holdings in Omnicom Group by 2,960.0% during the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 296 shares during the period. Bayforest Capital Ltd purchased a new stake in shares of Omnicom Group during the fourth quarter valued at $26,000. Elyxium Wealth LLC bought a new stake in Omnicom Group in the 4th quarter worth approximately $26,000. Legacy Wealth Managment LLC ID increased its position in shares of Omnicom Group by 111.4% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. Finally, EFG International AG bought a new position in shares of Omnicom Group in the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.
Omnicom Group Price Performance
NYSE:OMC opened at $76.18 on Thursday. The firm has a market cap of $21.71 billion, a price-to-earnings ratio of 195.34, a price-to-earnings-growth ratio of 0.46 and a beta of 0.63. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $87.17. The company’s 50-day moving average is $75.58 and its two-hundred day moving average is $76.77.
Omnicom Group declared that its Board of Directors has initiated a share buyback program 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 stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Omnicom Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is 820.51%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on OMC shares. Rothschild & Co Redburn assumed coverage on Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price on the stock. UBS Group increased their price objective on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. Argus raised shares of Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Finally, Morgan Stanley increased their price objective on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $99.00.
Get Our Latest Report on Omnicom Group
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.
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