Kerusso Capital Management LLC Acquires 23,634 Shares of Omnicom Group Inc. $OMC

Kerusso Capital Management LLC grew its holdings in Omnicom Group Inc. (NYSE:OMC) by 149.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 39,488 shares of the business services provider’s stock after purchasing an additional 23,634 shares during the quarter. Kerusso Capital Management LLC’s holdings in Omnicom Group were worth $3,189,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. State Street Corp grew its position 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 worth $1,384,980,000 after acquiring an additional 2,298,652 shares in the last quarter. JPMorgan Chase & Co. grew its position 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 worth $660,969,000 after acquiring an additional 1,893,316 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Omnicom Group by 5.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,870,437 shares of the business services provider’s stock worth $635,538,000 after acquiring an additional 433,461 shares in the last quarter. Bank of New York Mellon Corp grew its position 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 worth $542,376,000 after acquiring an additional 2,820,553 shares in the last quarter. Finally, First Eagle Investment Management LLC bought a new stake in Omnicom Group in the third quarter worth approximately $515,145,000. 91.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on OMC shares. UBS Group boosted their target price on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Barclays boosted their target price on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Argus raised shares of Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Finally, Bank of America reaffirmed an “underperform” rating and set a $77.00 price objective (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $95.86.

Omnicom Group Price Performance

NYSE:OMC opened at $76.76 on Friday. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $87.17. The stock has a market cap of $21.88 billion, a P/E ratio of 156.65, a PEG ratio of 0.60 and a beta of 0.73. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.93 and a quick ratio of 0.81. The company has a fifty day moving average price of $77.89 and a 200 day moving average price of $76.89.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Wednesday, February 18th. The business services provider reported $2.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.35). Omnicom Group had a negative net margin of 0.32% and a positive return on equity of 25.65%. The business had revenue of $5.53 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the prior year, the company posted $2.41 EPS. The company’s quarterly revenue was up 27.9% compared to the same quarter last year. Analysts anticipate that Omnicom Group Inc. will post 10.92 earnings per share for the current year.

Omnicom Group declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the business services provider to reacquire up to 38.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Wednesday, March 11th were paid a $0.80 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.2%. Omnicom Group’s dividend payout ratio is currently 653.06%.

Omnicom Group 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.