Cullen Capital Management LLC Sells 103,163 Shares of Omnicom Group Inc. $OMC

Cullen Capital Management LLC lowered its position in shares of Omnicom Group Inc. (NYSE:OMC) by 8.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,080,978 shares of the business services provider’s stock after selling 103,163 shares during the quarter. Cullen Capital Management LLC’s holdings in Omnicom Group were worth $87,289,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Leonard Rickey Investment Advisors P.L.L.C. grew its holdings in Omnicom Group by 4.1% in the fourth quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 3,775 shares of the business services provider’s stock worth $305,000 after purchasing an additional 147 shares during the period. Wakefield Asset Management LLLP grew its holdings in shares of Omnicom Group by 2.6% during the fourth quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider’s stock valued at $477,000 after buying an additional 149 shares during the last quarter. Hartford Financial Management Inc. grew its holdings in shares of Omnicom Group by 27.0% during the fourth quarter. Hartford Financial Management Inc. now owns 762 shares of the business services provider’s stock valued at $62,000 after buying an additional 162 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC grew its holdings in shares of Omnicom Group by 3.5% during the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 4,897 shares of the business services provider’s stock valued at $395,000 after buying an additional 167 shares during the last quarter. Finally, Binnacle Investments Inc grew its holdings in shares of Omnicom Group by 17.7% during the second quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider’s stock valued at $81,000 after buying an additional 169 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OMC. The Goldman Sachs Group began coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target on the stock. UBS Group increased their price target on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Morgan Stanley increased their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Barclays increased their price target on shares of Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Omnicom Group has a consensus rating of “Hold” and an average target price of $99.00.

Omnicom Group Stock Up 1.2%

Shares of Omnicom Group stock opened at $76.52 on Friday. The company has a market cap of $21.81 billion, a price-to-earnings ratio of 196.21, a price-to-earnings-growth ratio of 0.45 and a beta of 0.63. The company’s 50 day moving average is $75.49 and its 200 day moving average is $76.65. 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.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.70 earnings per share. Research analysts anticipate that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors 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 yield of 4.2%. Omnicom Group’s dividend payout ratio is 820.51%.

Omnicom Group declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 38.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are 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.