Councilmark Asset Management LLC Acquires New Shares in Omnicom Group Inc. $OMC

Councilmark Asset Management LLC bought a new stake in shares of Omnicom Group Inc. (NYSE:OMC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 9,891 shares of the business services provider’s stock, valued at approximately $799,000.

Other institutional investors have also recently made changes to their positions in the company. Harbour Investments Inc. boosted its holdings in shares of Omnicom Group by 68.3% in the fourth quarter. Harbour Investments Inc. now owns 749 shares of the business services provider’s stock worth $60,000 after acquiring an additional 304 shares during the period. Allstate Corp raised its stake in shares of Omnicom Group by 242.7% during the 4th quarter. Allstate Corp now owns 24,088 shares of the business services provider’s stock valued at $1,945,000 after purchasing an additional 17,059 shares during the period. Cooke & Bieler LP lifted its holdings in Omnicom Group by 11.8% during the 4th quarter. Cooke & Bieler LP now owns 2,538,012 shares of the business services provider’s stock worth $204,944,000 after purchasing an additional 268,141 shares in the last quarter. Choate Investment Advisors purchased a new stake in Omnicom Group during the 4th quarter worth about $215,000. Finally, CYBER HORNET ETFs LLC boosted its stake in Omnicom Group by 76.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 946 shares of the business services provider’s stock worth $76,000 after purchasing an additional 411 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Performance

NYSE:OMC opened at $74.95 on Tuesday. The business’s 50-day moving average price is $75.78 and its two-hundred day moving average price is $76.50. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $87.17. The stock has a market cap of $21.36 billion, a P/E ratio of 192.19, a PEG ratio of 0.45 and a beta of 0.66. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data 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 return on equity of 24.48% and a net margin of 0.32%.The company 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 firm earned $1.70 earnings per share. Omnicom Group’s revenue was up 69.2% on a year-over-year basis. As a group, equities analysts predict that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group announced that its board has authorized a share buyback 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 reacquire up to 38.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Omnicom Group Dividend Announcement

The business also recently announced 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 yield of 4.3%. Omnicom Group’s payout ratio is 820.51%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on OMC shares. Morgan Stanley lifted their target price on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Argus upgraded shares of Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Citigroup reduced their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. UBS Group upped their target price on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Finally, Barclays increased their target price 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. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $93.71.

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.