Horrell Capital Management Inc. Invests $676,000 in Omnicom Group Inc. $OMC

Horrell Capital Management Inc. acquired a new position in shares of Omnicom Group Inc. (NYSE:OMC) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 8,368 shares of the business services provider’s stock, valued at approximately $676,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in OMC. Activest Wealth Management grew its stake in shares of Omnicom Group by 2,960.0% during the 4th 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 stake in shares of Omnicom Group during the 4th quarter worth approximately $26,000. Cornerstone Planning Group LLC grew its stake in shares of Omnicom Group by 2,126.7% during the 3rd 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. Meeder Asset Management Inc. grew its stake in shares of Omnicom Group by 289.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock worth $30,000 after purchasing an additional 272 shares during the period. Finally, Westside Investment Management Inc. grew its stake in shares of Omnicom Group by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 404 shares of the business services provider’s stock worth $31,000 after purchasing an additional 202 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on OMC shares. Morgan Stanley raised their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Citigroup dropped their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Barclays raised 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday, January 22nd. Finally, Argus raised shares of Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $93.71.

Omnicom Group Price Performance

Omnicom Group stock opened at $76.84 on Friday. The company’s fifty day moving average price is $78.07 and its 200 day moving average price is $76.78. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17. The stock has a market capitalization of $21.90 billion, a P/E ratio of 197.03, a P/E/G ratio of 0.59 and a beta of 0.66. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating 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 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 company earned $1.70 EPS. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group announced that its board has initiated a share repurchase plan on Wednesday, February 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 38.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $3.20 dividend on an annualized basis and a yield of 4.2%. Omnicom Group’s dividend payout ratio (DPR) is currently 820.51%.

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.