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

Mcrae Capital Management Inc. boosted its stake in Omnicom Group Inc. (NYSE:OMC) by 4.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,461 shares of the business services provider’s stock after buying an additional 9,832 shares during the quarter. Omnicom Group makes up about 3.7% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 8th largest position. Mcrae Capital Management Inc.’s holdings in Omnicom Group were worth $18,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. TD Asset Management Inc raised its position in Omnicom Group by 55.3% in the 4th quarter. TD Asset Management Inc now owns 434,489 shares of the business services provider’s stock valued at $35,085,000 after purchasing an additional 154,710 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Omnicom Group in the 4th quarter valued at $1,022,000. Lido Advisors LLC raised its position in Omnicom Group by 0.9% in the 4th quarter. Lido Advisors LLC now owns 95,422 shares of the business services provider’s stock valued at $7,844,000 after purchasing an additional 812 shares during the last quarter. REAP Financial Group LLC bought a new position in Omnicom Group in the 4th quarter valued at $35,000. Finally, Private Wealth Asset Management LLC raised its position in Omnicom Group by 35.3% in the 4th quarter. Private Wealth Asset Management LLC now owns 863 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 225 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Rothschild & Co Redburn assumed coverage on Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective for the company. Citigroup cut their price objective on Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Barclays lifted their price objective on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a research report on Friday, May 22nd. Finally, Argus upgraded Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $99.00.

Omnicom Group Trading Down 2.1%

OMC stock opened at $73.67 on Thursday. The company has a market cap of $21.00 billion, a P/E ratio of 188.91, a PEG ratio of 0.45 and a beta of 0.63. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $87.17. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average of $75.45 and a 200-day moving average of $76.55.

Omnicom Group (NYSE:OMC) last released its earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share 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%.The firm’s quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.70 earnings per share. As a group, equities research analysts expect that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.80 per share. The ex-dividend date is Wednesday, June 10th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.3%. Omnicom Group’s payout ratio is presently 820.51%.

Omnicom Group announced that its board has authorized a share repurchase program on Wednesday, February 18th that permits the company to buyback $5.00 billion in 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 typically an indication that the company’s leadership believes its stock is undervalued.

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.