Wealthfront Advisers LLC Raises Stake in Omnicom Group Inc. $OMC

Wealthfront Advisers LLC increased its stake in Omnicom Group Inc. (NYSE:OMC) by 40.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 33,328 shares of the business services provider’s stock after buying an additional 9,518 shares during the period. Wealthfront Advisers LLC’s holdings in Omnicom Group were worth $2,691,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OMC. Oppenheimer Asset Management Inc. raised its position in Omnicom Group by 15.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 108,310 shares of the business services provider’s stock worth $8,831,000 after acquiring an additional 14,368 shares during the period. Principal Financial Group Inc. raised its position in Omnicom Group by 18.7% in the third quarter. Principal Financial Group Inc. now owns 1,877,462 shares of the business services provider’s stock worth $153,068,000 after acquiring an additional 295,379 shares during the period. Jackson Creek Investment Advisors LLC bought a new position in Omnicom Group in the third quarter worth approximately $870,000. AustralianSuper Pty Ltd raised its position in Omnicom Group by 24.2% in the third quarter. AustralianSuper Pty Ltd now owns 129,755 shares of the business services provider’s stock worth $10,579,000 after acquiring an additional 25,317 shares during the period. Finally, National Pension Service raised its position in Omnicom Group by 35.3% in the third quarter. National Pension Service now owns 111,161 shares of the business services provider’s stock worth $9,063,000 after acquiring an additional 29,014 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on OMC shares. Citigroup decreased their price target on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research report on Thursday, January 22nd. Morgan Stanley increased their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday. Barclays raised their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Finally, UBS Group raised their price objective on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $93.71.

Omnicom Group Stock Up 0.4%

Shares of OMC stock opened at $77.02 on Friday. The company has a market capitalization of $21.95 billion, a price-to-earnings ratio of 197.49, a PEG ratio of 0.59 and a beta of 0.66. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $87.17. The company’s fifty day moving average price is $78.37 and its 200-day moving average price is $76.81. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.81.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. The firm had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The company’s revenue was up 69.2% on a year-over-year basis. During the same period last year, the firm earned $1.70 EPS. Sell-side analysts expect that Omnicom Group Inc. will post 10.92 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Wednesday, March 11th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Wednesday, March 11th. Omnicom Group’s dividend payout ratio (DPR) is presently 820.51%.

Omnicom Group declared that its board has authorized a stock buyback plan on Wednesday, February 18th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 38.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board 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.