Omnicom Group Inc. $OMC Position Increased by Miller Howard Investments Inc. NY

Key Points

• Miller Howard Investments increased its stake in Omnicom by 9,971.0% in Q4, buying 569,445 shares to hold 575,156 shares (about 0.30% of Omnicom) valued at $46.44 million, making OMC 1.4% of the fund's portfolio and its 28th largest position.
• Omnicom missed Q4 estimates (EPS $2.59 vs. $2.94 expected; revenue $5.53B vs. $7.58B expected) although revenue was up 27.9% year-over-year; the board authorized a $5.0 billion share buyback and the company pays a $0.80 quarterly dividend (4.1% yield).
• Analysts are mixed with a consensus rating of Hold and an average price target of $95.86 (4 Buy, 4 Hold, 1 Sell).

Miller Howard Investments Inc. NY increased its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 9,971.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 575,156 shares of the business services provider's stock after purchasing an additional 569,445 shares during the period. Omnicom Group accounts for 1.4% of Miller Howard Investments Inc. NY's portfolio, making the stock its 28th largest position. Miller Howard Investments Inc. NY owned approximately 0.30% of Omnicom Group worth $46,444,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. lifted its holdings in shares of Omnicom Group by 15.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 108,310 shares of the business services provider's stock worth $8,831,000 after purchasing an additional 14,368 shares during the last quarter. Principal Financial Group Inc. increased its position in Omnicom Group by 18.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,877,462 shares of the business services provider's stock valued at $153,068,000 after acquiring an additional 295,379 shares during the period. Jackson Creek Investment Advisors LLC acquired a new stake in Omnicom Group in the 3rd quarter valued at approximately $870,000. AustralianSuper Pty Ltd increased its position in Omnicom Group by 24.2% in the 3rd quarter. AustralianSuper Pty Ltd now owns 129,755 shares of the business services provider's stock valued at $10,579,000 after acquiring an additional 25,317 shares during the period. Finally, National Pension Service increased its position in Omnicom Group by 35.3% in the 3rd quarter. National Pension Service now owns 111,161 shares of the business services provider's stock valued at $9,063,000 after acquiring an additional 29,014 shares during the period. Institutional investors own 91.97% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citigroup raised their target price on Omnicom Group from $103.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Bank of America restated an "underperform" rating and issued a $77.00 target price (down from $87.00) on shares of Omnicom Group in a research report on Monday, January 5th. UBS Group raised their target price on Omnicom Group from $108.00 to $114.00 and gave the company a "buy" rating in a research report on Friday, March 20th. Weiss Ratings restated a "hold (c)" rating on shares of Omnicom Group in a research report on Thursday, January 22nd. Finally, Barclays raised their target price on Omnicom Group from $82.00 to $90.00 and gave the company an "equal weight" rating in a research report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $95.86.

Omnicom Group Stock Down 0.1%

Shares of OMC stock opened at $78.62 on Monday. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17. The stock has a market cap of $22.40 billion, a PE ratio of 160.44, a price-to-earnings-growth ratio of 0.60 and a beta of 0.73. The business's fifty day moving average is $77.27 and its 200-day moving average is $76.86. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.81 and a current ratio of 0.93.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The business services provider reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.94 by ($0.35). Omnicom Group had a negative net margin of 0.32% and a positive return on equity of 25.65%. The firm had revenue of $5.53 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter last year, the business posted $2.41 earnings per share. The firm's revenue for the quarter was up 27.9% compared to the same quarter last year. Equities analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

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

Omnicom Group Dividend Announcement

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. The ex-dividend date was Wednesday, March 11th. This represents a $3.20 annualized dividend and a dividend yield of 4.1%. Omnicom Group's dividend payout ratio (DPR) is 653.06%.

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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