United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Buys New Stake in Omnicom Group Inc. $OMC

Key Points

• United Super Pty Ltd disclosed a new stake in Omnicom Group, buying 119,879 shares worth about $9.68 million in the fourth quarter. The position represented roughly 0.06% of the company.
• 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 expected. Revenue was up 69.2% year over year.
• The company also approved a $5 billion share repurchase program and announced a quarterly dividend of $0.80 per share, implying a 4.3% yield. Analysts currently have a consensus rating of Hold with an average target price of $93.13.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 119,879 shares of the business services provider's stock, valued at approximately $9,680,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund owned approximately 0.06% of Omnicom Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Activest Wealth Management lifted its holdings in shares of Omnicom Group by 2,960.0% during the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider's stock valued at $25,000 after acquiring an additional 296 shares in the last quarter. Bayforest Capital Ltd acquired a new position in shares of Omnicom Group during the 4th quarter valued at $26,000. Elyxium Wealth LLC acquired a new position in shares of Omnicom Group during the 4th quarter valued at $26,000. Cornerstone Planning Group LLC lifted its holdings in shares of Omnicom Group by 2,126.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider's stock valued at $27,000 after acquiring an additional 319 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID lifted its holdings in shares of Omnicom Group by 111.4% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider's stock valued at $27,000 after acquiring an additional 176 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.

Omnicom Group Price Performance

NYSE OMC opened at $74.09 on Friday. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $87.17. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The stock has a market cap of $21.12 billion, a price-to-earnings ratio of 189.98, a price-to-earnings-growth ratio of 0.45 and a beta of 0.66. The company has a 50-day moving average price of $75.55 and a two-hundred day moving average price of $76.52.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its earnings results on Wednesday, April 29th. 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 net margin of 0.32% and a return on equity of 24.48%. The firm had revenue of $6.24 billion during the quarter, compared to analysts' expectations of $5.85 billion. During the same quarter in the prior year, the firm earned $1.70 EPS. Omnicom Group's quarterly revenue was up 69.2% on a year-over-year basis. Analysts forecast that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group declared that its board has approved a stock repurchase program on Wednesday, February 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the business services provider to reacquire up to 38.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders 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 yield of 4.3%. Omnicom Group's dividend payout ratio is 820.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Citigroup dropped their target price on shares of Omnicom Group from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday, April 30th. Weiss Ratings reissued a "hold (c-)" rating on shares of Omnicom Group in a research report on Friday, May 22nd. Rothschild & Co Redburn assumed coverage on shares of Omnicom Group in a research report on Thursday. They issued a "neutral" rating and a $89.00 target price for the company. UBS Group boosted their target price on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. Finally, Argus raised shares of 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, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Omnicom Group currently has a consensus rating of "Hold" and an average target price of $93.13.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.