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

Cullen Capital Management LLC acquired a new position in shares of Omnicom Group Inc. (NYSE:OMC) during the second quarter, HoldingsChannel reports. The firm acquired 1,176,691 shares of the business services provider’s stock, valued at approximately $85,698,000.

Other large investors also recently made changes to their positions in the company. Activest Wealth Management increased its holdings in Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after buying an additional 296 shares during the last quarter. Elyxium Wealth LLC bought a new stake in Omnicom Group during the fourth quarter worth $26,000. Legacy Wealth Managment LLC ID lifted its stake in Omnicom Group by 111.4% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares during the last quarter. EFG International AG acquired a new stake in Omnicom Group in the fourth quarter valued at $28,000. Finally, Keating Financial Advisory Services Inc. bought a new position in shares of Omnicom Group in the 2nd quarter valued at about $25,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Rothschild & Co Redburn began coverage on shares of Omnicom Group in a research note on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective on the stock. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Zacks Research cut Omnicom Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Morgan Stanley boosted their price target on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, The Goldman Sachs Group began coverage on Omnicom Group in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $99.00.

Omnicom Group Stock Up 1.6%

OMC stock opened at $88.94 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. The stock has a market capitalization of $24.40 billion, a price-to-earnings ratio of 76.68, a PEG ratio of 0.58 and a beta of 0.64. The business’s fifty day moving average price is $80.59 and its two-hundred day moving average price is $77.72. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $89.57.

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

Omnicom Group Announces Dividend

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

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.