Cullen Capital Management LLC Sells 103,163 Shares of Omnicom Group Inc. $OMC

Cullen Capital Management LLC lessened its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,080,978 shares of the business services provider’s stock after selling 103,163 shares during the quarter. Cullen Capital Management LLC owned about 0.56% of Omnicom Group worth $87,289,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Omnicom Group by 64.2% during the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock worth $3,143,930,000 after purchasing an additional 15,220,444 shares in the last quarter. State Street Corp raised its holdings in shares of Omnicom Group by 15.8% in the 3rd quarter. State Street Corp now owns 16,863,327 shares of the business services provider’s stock worth $1,384,980,000 after acquiring an additional 2,298,652 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Omnicom Group by 69.6% in the 4th quarter. Bank of New York Mellon Corp now owns 11,283,863 shares of the business services provider’s stock valued at $911,172,000 after acquiring an additional 4,631,394 shares in the last quarter. Geode Capital Management LLC lifted its position in Omnicom Group by 57.1% in the 4th quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock valued at $690,327,000 after acquiring an additional 3,117,188 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Omnicom Group by 30.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,107,021 shares of the business services provider’s stock valued at $660,969,000 after acquiring an additional 1,893,316 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $76.52 on Friday. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $87.17. The stock has a market cap of $21.81 billion, a price-to-earnings ratio of 196.21, a PEG ratio of 0.45 and a beta of 0.63. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91. The firm’s 50-day simple moving average is $75.49 and its 200 day simple moving average is $76.65.

Omnicom Group (NYSE:OMC) 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 for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter last year, the firm earned $1.70 EPS. The company’s quarterly revenue was up 69.2% compared to the same quarter last year. As a group, research analysts anticipate that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group declared that its board has approved a stock buyback program 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership 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 dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $3.20 annualized dividend and a dividend yield of 4.2%. Omnicom Group’s dividend payout ratio (DPR) is currently 820.51%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OMC. The Goldman Sachs Group began coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Omnicom Group in a research report on Friday, May 22nd. Barclays raised their price target on shares of Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Argus raised shares of Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Finally, Citigroup dropped 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. Five equities research analysts have rated the stock with a Buy rating, five have given 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 target price of $99.00.

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.