Short Interest in Omnicom Group Inc. (NYSE:OMC) Drops By 24.4%

Omnicom Group Inc. (NYSE:OMC) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 22,832,352 shares, a drop of 24.4% from the November 30th total of 30,206,990 shares. Based on an average trading volume of 6,790,296 shares, the days-to-cover ratio is currently 3.4 days. Approximately 12.0% of the shares of the company are sold short. Approximately 12.0% of the shares of the company are sold short. Based on an average trading volume of 6,790,296 shares, the days-to-cover ratio is currently 3.4 days.

Omnicom Group Price Performance

Shares of NYSE OMC traded up $0.29 during mid-day trading on Tuesday, hitting $80.76. 3,109,109 shares of the stock were exchanged, compared to its average volume of 5,614,902. Omnicom Group has a twelve month low of $68.37 and a twelve month high of $89.35. The stock’s fifty day simple moving average is $75.80 and its two-hundred day simple moving average is $75.53. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92. The company has a market cap of $15.58 billion, a P/E ratio of 11.93, a PEG ratio of 1.28 and a beta of 0.75.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 21st. The business services provider reported $2.24 EPS for the quarter, topping the consensus estimate of $2.17 by $0.07. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the business earned $2.03 EPS. Omnicom Group’s revenue was up 4.0% compared to the same quarter last year. As a group, analysts forecast that Omnicom Group will post 8.25 EPS for the current fiscal year.

Omnicom Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 19th will be issued a dividend of $0.80 per share. The ex-dividend date is Friday, December 19th. This is a boost from Omnicom Group’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 4.0%. Omnicom Group’s dividend payout ratio (DPR) is currently 47.27%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. UBS Group upped their target price on Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday, October 8th. Barclays increased their price objective on shares of Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. Morgan Stanley started coverage on shares of Omnicom Group in a research report on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 target price on the stock. Finally, Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $92.57.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Omnicom Group by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 23,811,406 shares of the business services provider’s stock worth $1,712,993,000 after acquiring an additional 344,652 shares during the last quarter. State Street Corp lifted its position in shares of Omnicom Group by 15.8% during the third quarter. State Street Corp now owns 16,863,327 shares of the business services provider’s stock worth $1,384,980,000 after purchasing an additional 2,298,652 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Omnicom Group by 30.5% during the third quarter. JPMorgan Chase & Co. now owns 8,107,021 shares of the business services provider’s stock valued at $660,969,000 after purchasing an additional 1,893,316 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Omnicom Group by 9.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,869,786 shares of the business services provider’s stock valued at $566,152,000 after purchasing an additional 691,560 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Omnicom Group by 73.6% in the third quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock valued at $542,376,000 after purchasing an additional 2,820,553 shares in the last quarter. 91.97% of the stock is owned by institutional investors.

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.