New York State Teachers Retirement System Raises Holdings in Omnicom Group Inc. $OMC

Key Points

• New York State Teachers Retirement System boosted its stake in Omnicom by 70.2%, adding 103,615 shares to hold 251,174 shares valued at about $20.28 million (≈0.13% ownership) at quarter-end.
• Omnicom recently declared a quarterly dividend of $0.80 (annualized $3.20, ~4.2% yield) and authorized a $5.0 billion share buyback, the latter covering up to roughly 38.1% of outstanding stock.
• The company beat the latest quarter's estimates with $1.90 EPS vs. $1.84 expected and $6.24B revenue (vs. $5.85B), while analysts' consensus is a "Hold" with a $93.71 target (4 Buy, 4 Hold, 1 Sell).

New York State Teachers Retirement System increased its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 70.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 251,174 shares of the business services provider's stock after acquiring an additional 103,615 shares during the period. New York State Teachers Retirement System owned approximately 0.13% of Omnicom Group worth $20,282,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management grew its position in Omnicom Group by 2,960.0% in the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider's stock worth $25,000 after acquiring an additional 296 shares during the period. Bayforest Capital Ltd purchased a new position in Omnicom Group in the fourth quarter worth approximately $26,000. Cornerstone Planning Group LLC grew its position in Omnicom Group by 2,126.7% in the third quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider's stock worth $27,000 after acquiring an additional 319 shares during the period. Meeder Asset Management Inc. grew its position in Omnicom Group by 289.4% in the third quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider's stock worth $30,000 after acquiring an additional 272 shares during the period. Finally, Westside Investment Management Inc. grew its position in Omnicom Group by 100.0% in the third quarter. Westside Investment Management Inc. now owns 404 shares of the business services provider's stock worth $31,000 after acquiring an additional 202 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OMC has been the subject of several analyst reports. 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 objective on Omnicom Group from $82.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Friday. Citigroup lowered their price target on Omnicom Group from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday. Barclays raised their price target on Omnicom Group from $82.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Monday, February 23rd. Finally, Argus upgraded Omnicom Group to a "hold" rating in a research report on Thursday, March 26th. Four equities 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $93.71.

Omnicom Group Trading Up 0.4%

OMC opened at $77.02 on Friday. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $87.17. The business has a fifty day simple moving average of $78.37 and a 200-day simple moving average of $76.81. The firm has a market cap of $21.95 billion, a P/E ratio of 197.49, a P/E/G ratio of 0.59 and a beta of 0.66. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The business had revenue of $6.24 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same period last year, the business posted $1.70 earnings per share. The company's quarterly revenue was up 69.2% on a year-over-year basis. On average, equities analysts expect that Omnicom Group Inc. will post 10.77 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Wednesday, March 11th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Wednesday, March 11th. Omnicom Group's dividend payout ratio (DPR) is currently 820.51%.

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

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.

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