Mcrae Capital Management Inc. Acquires 9,832 Shares of Omnicom Group Inc. $OMC

Mcrae Capital Management Inc. raised its holdings in Omnicom Group Inc. (NYSE:OMC) by 4.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 225,461 shares of the business services provider’s stock after buying an additional 9,832 shares during the quarter. Omnicom Group accounts for about 3.7% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 8th largest position. Mcrae Capital Management Inc. owned about 0.12% of Omnicom Group worth $18,206,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OMC. Activest Wealth Management grew its holdings in Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after buying an additional 296 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Omnicom Group in the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new stake in Omnicom Group in the 4th quarter valued at approximately $26,000. Cornerstone Planning Group LLC grew its holdings in Omnicom Group by 2,126.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock valued at $27,000 after buying an additional 319 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID grew its holdings in Omnicom Group by 111.4% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $73.67 on Thursday. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17. The firm has a market capitalization of $21.00 billion, a PE ratio of 188.91, a PEG ratio of 0.45 and a beta of 0.63. The business’s 50 day moving average is $75.45 and its 200-day moving average is $76.55. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The company had revenue of $6.24 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same quarter last year, the firm earned $1.70 EPS. Omnicom Group’s revenue for the quarter was up 69.2% compared to the same quarter last year. Sell-side analysts predict that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group Announces Dividend

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 annualized dividend and a yield of 4.3%. Omnicom Group’s payout ratio is currently 820.51%.

Omnicom Group announced that its Board of Directors has approved a stock buyback 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 reacquire up to 38.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OMC. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. The Goldman Sachs Group started coverage on Omnicom Group in a report on Wednesday. They issued a “buy” rating and a $146.00 target price on the stock. Morgan Stanley lifted their price objective on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Rothschild & Co Redburn started coverage on Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective on the stock. Finally, Barclays lifted their price objective on Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently 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.