Omnicom Group (NYSE:OMC) Shares Gap Down – What’s Next?

Omnicom Group Inc. (NYSE:OMC) shares gapped down before the market opened on Tuesday . The stock had previously closed at $76.52, but opened at $71.78. Omnicom Group shares last traded at $71.1440, with a volume of 501,129 shares traded.

Analysts Set New Price Targets

Several brokerages recently weighed in on OMC. Barclays upped their target price on shares of Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. UBS Group increased their price objective on Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Bank of America restated an “underperform” rating and set a $77.00 price target (down previously from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday, January 22nd. Finally, Morgan Stanley began coverage on shares of Omnicom Group in a research note on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 target price on the stock. Four equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $92.14.

Omnicom Group Stock Performance

The firm has a 50 day moving average of $77.61 and a two-hundred day moving average of $76.58. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80. The stock has a market cap of $13.34 billion, a PE ratio of 10.21, a PEG ratio of 1.10 and a beta of 0.74.

Omnicom Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 19th were paid a $0.80 dividend. This is a boost from Omnicom Group’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 4.6%. The ex-dividend date was Friday, December 19th. Omnicom Group’s payout ratio is currently 47.27%.

Institutional Trading of Omnicom Group

A number of large investors have recently made changes to their positions in OMC. Intrua Financial LLC increased its position in Omnicom Group by 49.8% during the fourth quarter. Intrua Financial LLC now owns 16,036 shares of the business services provider’s stock worth $1,295,000 after buying an additional 5,332 shares during the period. Mission Wealth Management LP purchased a new stake in Omnicom Group in the 4th quarter valued at $215,000. Gamco Investors INC. ET AL boosted its stake in Omnicom Group by 6,819.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 214,222 shares of the business services provider’s stock worth $17,298,000 after purchasing an additional 211,126 shares during the period. Gabelli Funds LLC grew its position in Omnicom Group by 154.7% during the 4th quarter. Gabelli Funds LLC now owns 37,568 shares of the business services provider’s stock worth $3,034,000 after purchasing an additional 22,820 shares during the last quarter. Finally, Passumpsic Savings Bank acquired a new position in Omnicom Group in the fourth quarter valued at $229,000. 91.97% of the stock is owned by institutional investors and hedge funds.

About Omnicom Group

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.