Basepoint Wealth LLC Takes Position in Omnicom Group Inc. $OMC

Basepoint Wealth LLC bought a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,342 shares of the business services provider’s stock, valued at approximately $593,000.

A number of other large investors have also added to or reduced their stakes in OMC. EverSource Wealth Advisors LLC boosted its holdings in shares of Omnicom Group by 82.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider’s stock worth $138,000 after buying an additional 869 shares during the period. Gamco Investors INC. ET AL bought a new position in Omnicom Group in the 2nd quarter valued at about $241,000. Gabelli Funds LLC bought a new position in Omnicom Group in the 2nd quarter valued at about $1,061,000. Daiwa Securities Group Inc. lifted its position in Omnicom Group by 5.3% during the second quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider’s stock worth $2,113,000 after acquiring an additional 1,482 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Omnicom Group by 14.1% during the second quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock worth $25,990,000 after acquiring an additional 44,746 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of OMC stock opened at $74.09 on Friday. The company has a market cap of $21.12 billion, a P/E ratio of 189.98, a P/E/G 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. The business has a fifty day simple moving average of $75.55 and a 200 day simple moving average of $76.52. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $87.17.

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, 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 the consensus estimate of $5.85 billion. During the same quarter in the prior year, the firm earned $1.70 EPS. The firm’s revenue was up 69.2% compared to the same quarter last year. On average, sell-side analysts forecast that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is 820.51%.

Omnicom Group declared that its Board of Directors has initiated a share buyback program on Wednesday, February 18th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 38.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. UBS Group upped their price objective on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Argus upgraded shares of Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Citigroup lowered their price target on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Barclays lifted their price objective 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. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a research note on Friday, May 22nd. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $93.13.

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.