Shellback Capital LP Takes Position in Omnicom Group Inc. (NYSE:OMC)

Shellback Capital LP bought a new stake in shares of Omnicom Group Inc. (NYSE:OMC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,000 shares of the business services provider’s stock, valued at approximately $1,721,000.

Several other hedge funds have also bought and sold shares of the stock. Fort Washington Investment Advisors Inc. OH increased its holdings in Omnicom Group by 15.4% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 376,701 shares of the business services provider’s stock worth $32,411,000 after acquiring an additional 50,153 shares in the last quarter. Avanza Fonder AB bought a new stake in shares of Omnicom Group during the 4th quarter valued at $1,544,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Omnicom Group during the 4th quarter valued at $366,000. AEGON ASSET MANAGEMENT UK Plc boosted its holdings in Omnicom Group by 46.0% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 495,511 shares of the business services provider’s stock worth $42,634,000 after buying an additional 156,173 shares during the period. Finally, Vest Financial LLC increased its stake in Omnicom Group by 41.1% in the 4th quarter. Vest Financial LLC now owns 393,490 shares of the business services provider’s stock worth $33,856,000 after buying an additional 114,703 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on OMC shares. Citigroup reaffirmed a “buy” rating and issued a $103.00 price objective on shares of Omnicom Group in a research note on Tuesday, April 15th. Wells Fargo & Company dropped their price target on Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Barclays lowered their target price on shares of Omnicom Group from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Argus cut shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, UBS Group decreased their price target on shares of Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.29.

Omnicom Group Price Performance

Omnicom Group stock opened at $76.30 on Friday. Omnicom Group Inc. has a 52-week low of $69.13 and a 52-week high of $107.00. The company has a market cap of $14.89 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 1.94 and a beta of 0.95. The firm’s fifty day moving average is $76.89 and its 200 day moving average is $85.98. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.63 by $0.07. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.73 billion. Sell-side analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, June 10th. This represents a $2.80 annualized dividend and a yield of 3.67%. Omnicom Group’s payout ratio is presently 38.30%.

About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.