Short Interest in Omnicom Group Inc. (NYSE:OMC) Decreases By 13.1%

Omnicom Group Inc. (NYSE:OMC) was the recipient of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 40,589,387 shares, a decrease of 13.1% from the February 26th total of 46,725,132 shares. Based on an average daily trading volume, of 4,595,588 shares, the short-interest ratio is presently 8.8 days. Approximately 13.2% of the company’s stock are short sold.

Analysts Set New Price Targets

OMC has been the subject of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Morgan Stanley initiated coverage on shares of Omnicom Group in a research note on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 target price for the company. Bank of America reissued an “underperform” rating and issued a $77.00 target price (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Citigroup raised their price target on Omnicom Group from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, Argus raised Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $95.86.

Hedge Funds Weigh In On Omnicom Group

A number of hedge funds have recently modified their holdings of OMC. Vanguard Group Inc. boosted its stake in Omnicom Group by 64.2% during the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock worth $3,143,930,000 after purchasing an additional 15,220,444 shares during the period. State Street Corp grew its holdings in shares of Omnicom Group by 40.4% during the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock worth $1,933,891,000 after buying an additional 6,813,441 shares during the last quarter. First Eagle Investment Management LLC purchased a new position in shares of Omnicom Group during the third quarter worth about $515,145,000. Bank of New York Mellon Corp raised its stake in Omnicom Group by 69.6% during the 4th quarter. Bank of New York Mellon Corp now owns 11,283,863 shares of the business services provider’s stock valued at $911,172,000 after acquiring an additional 4,631,394 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Omnicom Group by 522.9% during the 4th quarter. Wellington Management Group LLP now owns 5,199,477 shares of the business services provider’s stock worth $419,858,000 after acquiring an additional 4,364,797 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Stock Down 0.0%

Shares of NYSE:OMC opened at $75.31 on Thursday. The firm has a 50 day simple moving average of $76.95 and a 200-day simple moving average of $76.92. Omnicom Group has a twelve month low of $66.33 and a twelve month high of $87.17. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $21.46 billion, a PE ratio of 153.69, a P/E/G ratio of 0.62 and a beta of 0.71.

Omnicom Group (NYSE:OMC) last posted its earnings results on Wednesday, February 18th. The business services provider reported $2.59 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 company had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same period last year, the business earned $2.41 earnings per share. The company’s quarterly revenue was up 27.9% on a year-over-year basis. On average, equities analysts predict that Omnicom Group will post 8.25 EPS for the current fiscal year.

Omnicom Group declared that its board has approved a stock repurchase program on Wednesday, February 18th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the business services provider to buy up to 38.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Wednesday, March 11th will be given a dividend of $0.80 per share. The ex-dividend date is Wednesday, March 11th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.2%. Omnicom Group’s payout ratio is 653.06%.

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.