Korea Investment CORP Has $6.22 Million Stock Holdings in Omnicom Group Inc. $OMC

Korea Investment CORP decreased its stake in Omnicom Group Inc. (NYSE:OMC) by 16.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,305 shares of the business services provider’s stock after selling 14,600 shares during the period. Korea Investment CORP’s holdings in Omnicom Group were worth $6,221,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in OMC. First Eagle Investment Management LLC bought a new position in shares of Omnicom Group in the 3rd quarter valued at $515,145,000. JPMorgan Chase & Co. grew its position in Omnicom Group by 117.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,213,705 shares of the business services provider’s stock worth $447,017,000 after acquiring an additional 3,362,411 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Omnicom Group by 73.6% in the 3rd 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 purchasing an additional 2,820,553 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Omnicom Group by 38.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,514,628 shares of the business services provider’s stock worth $324,782,000 after purchasing an additional 1,255,197 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in Omnicom Group in the second quarter valued at about $67,048,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Morgan Stanley began coverage on Omnicom Group in a report on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 price target on the stock. Bank of America reiterated an “underperform” rating and issued a $77.00 price objective (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research report on Thursday, January 22nd. Citigroup boosted their target price on shares of Omnicom Group from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Finally, UBS Group raised their price target on shares of Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $95.00.

Omnicom Group Trading Down 2.9%

Shares of OMC stock opened at $77.77 on Friday. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year 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 stock has a market cap of $24.14 billion, a price-to-earnings ratio of 158.72, a PEG ratio of 0.78 and a beta of 0.71. The stock has a 50-day moving average of $77.83 and a 200-day moving average of $77.13.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data 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 positive return on equity of 25.65% and a negative net margin of 0.32%.The company had revenue of $5.53 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same period in the prior year, the firm earned $2.41 earnings per share. Omnicom Group’s revenue was up 27.9% compared to the same quarter last year. On average, equities research analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group declared that its Board of Directors 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 buy up to 38.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Wednesday, March 11th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, March 11th. Omnicom Group’s dividend payout ratio is currently 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.