Cullen Capital Management LLC Makes New Investment in Omnicom Group Inc. $OMC

Cullen Capital Management LLC bought a new stake in shares of Omnicom Group Inc. (NYSE:OMC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 1,176,691 shares of the business services provider’s stock, valued at approximately $85,698,000. Cullen Capital Management LLC owned about 0.43% of Omnicom Group as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in OMC. BlackRock Inc. acquired a new stake in shares of Omnicom Group during the second quarter worth $2,082,476,000. Vanguard Group Inc. boosted its holdings in Omnicom Group by 64.2% during the fourth quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock worth $3,143,930,000 after buying an additional 15,220,444 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Omnicom Group during the second quarter worth about $914,156,000. State Street Corp grew its position in shares of Omnicom Group by 40.4% during the 4th 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 period. Finally, Wellington Management Group LLP grew its position in shares of 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 buying an additional 4,364,797 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Price Performance

NYSE OMC opened at $88.94 on Tuesday. The firm’s 50 day moving average is $80.59 and its 200-day moving average is $77.72. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $24.40 billion, a PE ratio of 76.68, a price-to-earnings-growth ratio of 0.58 and a beta of 0.64. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $89.57.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The business had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the previous year, the company posted $2.05 EPS. The business’s revenue for the quarter was up 63.4% compared to the same quarter last year. Equities research analysts anticipate that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio is currently 275.86%.

Analyst Upgrades and Downgrades

OMC has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Rothschild & Co Redburn assumed coverage on shares of Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Citigroup lowered their target price on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Finally, Zacks Research cut shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Omnicom Group presently has a consensus rating of “Hold” and a consensus target price of $99.00.

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.