Gabelli Funds LLC Has $3.03 Million Holdings in Omnicom Group Inc. $OMC

Gabelli Funds LLC lifted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 154.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 37,568 shares of the business services provider’s stock after acquiring an additional 22,820 shares during the quarter. Gabelli Funds LLC’s holdings in Omnicom Group were worth $3,034,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of OMC. Activest Wealth Management lifted its holdings in shares of Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after purchasing an additional 296 shares during the period. Bayforest Capital Ltd acquired a new position in shares of Omnicom Group during the fourth quarter worth $26,000. Elyxium Wealth LLC acquired a new position in shares of Omnicom Group during the fourth quarter worth $26,000. Cornerstone Planning Group LLC lifted its holdings in shares of Omnicom Group by 2,126.7% during the third quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock worth $27,000 after purchasing an additional 319 shares during the period. Finally, Legacy Wealth Managment LLC ID lifted its holdings in shares of Omnicom Group by 111.4% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Trading Up 2.7%

NYSE:OMC opened at $73.79 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77. The firm has a 50-day moving average of $75.93 and a 200-day moving average of $76.48. The company has a market cap of $21.03 billion, a PE ratio of 189.22, a PEG ratio of 0.43 and a beta of 0.66. Omnicom Group Inc. has a one year low of $66.33 and a one year 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm posted $1.70 EPS. The firm’s quarterly revenue was up 69.2% compared to the same quarter last year. As a group, equities research analysts expect that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group announced that its Board of Directors has initiated a share buyback 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 purchase up to 38.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Omnicom Group Dividend Announcement

The company also recently disclosed 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. This represents a $3.20 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s dividend payout ratio is presently 820.51%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Citigroup cut their price target on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Barclays boosted their target price on shares of Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. UBS Group boosted their target price on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Finally, Argus upgraded shares of Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $93.71.

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.