State of New Jersey Common Pension Fund D Has $7.91 Million Stake in Omnicom Group Inc. $OMC

Key Points

• State of New Jersey Common Pension Fund D boosted its stake in Omnicom by 55.3%, buying an additional 34,897 shares to hold 97,982 shares worth about $7.91 million (≈0.05% of the company).
• Omnicom beat Q results (EPS $1.90 vs. $1.84 estimate; revenue $6.24B vs. $5.85B, up 69.2% YoY) and its board authorized a $5.0 billion share buyback while maintaining a $0.80 quarterly dividend (~4.2% yield).
• Analysts are mixed on the stock with an average rating of "Hold" and a consensus price target of $93.71 (4 Buys, 4 Holds, 1 Sell).

State of New Jersey Common Pension Fund D lifted its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 55.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 97,982 shares of the business services provider's stock after buying an additional 34,897 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.05% of Omnicom Group worth $7,912,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of OMC. Oakworth Capital Inc. grew its position in Omnicom Group by 1,226.6% in the 4th quarter. Oakworth Capital Inc. now owns 1,048 shares of the business services provider's stock valued at $85,000 after purchasing an additional 969 shares during the period. Wealthfront Advisers LLC grew its position in Omnicom Group by 40.0% in the 4th quarter. Wealthfront Advisers LLC now owns 33,328 shares of the business services provider's stock valued at $2,691,000 after purchasing an additional 9,518 shares during the period. R Squared Ltd acquired a new stake in Omnicom Group in the 4th quarter valued at $339,000. Exencial Wealth Advisors LLC acquired a new stake in Omnicom Group in the 4th quarter valued at $233,000. Finally, Comerica Bank grew its position in Omnicom Group by 34.3% in the 4th quarter. Comerica Bank now owns 89,997 shares of the business services provider's stock valued at $7,267,000 after purchasing an additional 22,977 shares during the period. Institutional investors and hedge funds own 91.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Citigroup cut their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a "buy" rating on the stock in a report on Thursday. Barclays boosted their price objective on Omnicom Group from $82.00 to $90.00 and gave the company an "equal weight" rating in a research note on Monday, February 23rd. Bank of America restated an "underperform" rating and issued a $77.00 price objective (down from $87.00) on shares of Omnicom Group in a research note on Monday, January 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of Omnicom Group in a research report on Thursday, January 22nd. Finally, UBS Group upped their price target on 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 assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Omnicom Group currently has an average rating of "Hold" and a consensus price target of $93.71.

Omnicom Group Trading Up 0.4%

Omnicom Group stock opened at $77.02 on Friday. The company's fifty day simple moving average is $78.37 and its 200-day simple moving average is $76.81. 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 Inc. has a 12 month low of $66.33 and a 12 month high of $87.17. The stock 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.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The business had revenue of $6.24 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same quarter in the previous year, the business earned $1.70 EPS. Omnicom Group's quarterly revenue was up 69.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 10.77 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

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

Omnicom Group declared that its board has authorized a share buyback program on Wednesday, February 18th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the business services provider to buy up to 38.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Omnicom Group Company 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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