New York State Teachers Retirement System Grows Stock Position in Omnicom Group Inc. $OMC

New York State Teachers Retirement System lifted its stake in Omnicom Group Inc. (NYSE:OMC) by 70.2% in the fourth quarter, HoldingsChannel reports. The firm owned 251,174 shares of the business services provider’s stock after acquiring an additional 103,615 shares during the quarter. New York State Teachers Retirement System’s holdings in Omnicom Group were worth $20,282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OMC. Vanguard Group Inc. boosted its holdings in Omnicom Group by 64.2% in the fourth quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock valued at $3,143,930,000 after purchasing an additional 15,220,444 shares during the period. First Eagle Investment Management LLC purchased a new position in Omnicom Group in the third quarter valued at $515,145,000. Bank of New York Mellon Corp boosted its holdings in 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 during the period. State Street Corp boosted its holdings in Omnicom Group by 15.8% in the third quarter. State Street Corp now owns 16,863,327 shares of the business services provider’s stock valued at $1,384,980,000 after purchasing an additional 2,298,652 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Omnicom Group by 30.5% in 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 period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Stock Up 0.4%

Shares of NYSE OMC opened at $77.02 on Friday. The company has a market capitalization of $21.95 billion, a price-to-earnings ratio of 197.49, a price-to-earnings-growth ratio of 0.59 and a beta of 0.66. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.81. The business has a 50-day moving average of $78.37 and a two-hundred day moving average of $76.81. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.Omnicom Group’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.70 EPS. On average, analysts forecast that Omnicom Group Inc. will post 10.77 earnings per share for the current fiscal year.

Omnicom Group announced that its board has approved a share 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Wednesday, March 11th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Wednesday, March 11th. Omnicom Group’s payout ratio is 820.51%.

Analyst Ratings Changes

A number of research firms recently issued reports on OMC. Citigroup decreased their target price on Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a report on Thursday. UBS Group lifted their target price on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Morgan Stanley lifted their price target on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday. Barclays lifted their price target on Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Finally, Argus raised 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 given a Sell rating to the stock. According to MarketBeat.com, Omnicom Group currently has a consensus 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.