Heritage Trust Co Acquires 28,782 Shares of Omnicom Group Inc. $OMC

Key Points

• Heritage Trust Co increased its Omnicom Group stake by 198.2% in the fourth quarter, buying 28,782 additional shares and lifting its total holdings to 43,304 shares worth about $3.5 million.
• Omnicom reported better-than-expected quarterly results, with EPS of $1.90 versus $1.84 expected and revenue of $6.24 billion versus $5.85 billion estimated.
• The company announced a $5 billion share buyback and a quarterly dividend of $0.80 per share, implying a 4.2% yield based on the article’s figures.

Heritage Trust Co boosted its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 198.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,304 shares of the business services provider's stock after acquiring an additional 28,782 shares during the quarter. Heritage Trust Co's holdings in Omnicom Group were worth $3,497,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Leonard Rickey Investment Advisors P.L.L.C. raised its position in Omnicom Group by 4.1% during the fourth quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 3,775 shares of the business services provider's stock valued at $305,000 after acquiring an additional 147 shares in the last quarter. Wakefield Asset Management LLLP grew its holdings in Omnicom Group by 2.6% during the fourth quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider's stock valued at $477,000 after purchasing an additional 149 shares during the last quarter. Hartford Financial Management Inc. grew its holdings in Omnicom Group by 27.0% during the fourth quarter. Hartford Financial Management Inc. now owns 762 shares of the business services provider's stock valued at $62,000 after purchasing an additional 162 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC grew its holdings in Omnicom Group by 3.5% during the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 4,897 shares of the business services provider's stock valued at $395,000 after purchasing an additional 167 shares during the last quarter. Finally, Binnacle Investments Inc grew its holdings in Omnicom Group by 17.7% during the second quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider's stock valued at $81,000 after purchasing an additional 169 shares during the last quarter. Institutional investors own 91.97% of the company's stock.

Omnicom Group Price Performance

Omnicom Group stock opened at $76.15 on Tuesday. The firm has a market capitalization of $21.70 billion, a P/E ratio of 195.27, a PEG ratio of 0.44 and a beta of 0.64. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17. The business has a 50-day moving average of $75.49 and a 200-day moving average of $76.54. 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 (NYSE:OMC - Get Free Report) last posted its earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The company had revenue of $6.24 billion during the quarter, compared to analyst estimates of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The company's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.70 EPS. On average, equities analysts anticipate that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the business services provider to repurchase up to 38.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be given a $0.80 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $3.20 annualized dividend and a dividend yield of 4.2%. Omnicom Group's payout ratio is currently 820.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on OMC shares. Weiss Ratings restated a "hold (c-)" rating on shares of Omnicom Group in a research note on Friday, May 22nd. Argus upgraded shares of Omnicom Group to a "hold" rating in a research note on Thursday, March 26th. Barclays raised their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Monday, February 23rd. Rothschild & Co Redburn started coverage on shares of Omnicom Group in a research note on Thursday, May 28th. They issued a "neutral" rating and a $89.00 price objective on the stock. Finally, Citigroup lowered their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a "buy" rating on the stock in a research note on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Omnicom Group has an average rating of "Hold" and a consensus target price of $93.13.

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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