Geode Capital Management LLC Has $525.96 Million Stake in Omnicom Group Inc. (NYSE:OMC)

Geode Capital Management LLC boosted its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 1.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,100,560 shares of the business services provider's stock after purchasing an additional 72,447 shares during the quarter. Geode Capital Management LLC owned about 2.61% of Omnicom Group worth $525,960,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in OMC. Innealta Capital LLC acquired a new stake in Omnicom Group in the second quarter worth $33,000. Northwest Investment Counselors LLC acquired a new stake in Omnicom Group during the 3rd quarter worth $33,000. Davis Capital Management bought a new position in Omnicom Group during the third quarter worth about $36,000. HM Payson & Co. grew its stake in Omnicom Group by 84.5% in the third quarter. HM Payson & Co. now owns 369 shares of the business services provider's stock valued at $38,000 after acquiring an additional 169 shares during the period. Finally, Richardson Financial Services Inc. increased its holdings in shares of Omnicom Group by 66.3% in the second quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider's stock worth $50,000 after acquiring an additional 224 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.

Insider Activity

In related news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $105.29, for a total value of $421,160.00. Following the sale, the chief accounting officer now owns 23,545 shares in the company, valued at approximately $2,479,053.05. This represents a 14.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

OMC has been the subject of several research analyst reports. Barclays boosted their price objective on Omnicom Group from $110.00 to $121.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. UBS Group upped their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Bank of America raised their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an "underperform" rating in a report on Thursday, September 5th. Wells Fargo & Company reduced their target price on shares of Omnicom Group from $110.00 to $99.00 and set an "equal weight" rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on Omnicom Group from $118.00 to $119.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Omnicom Group has a consensus rating of "Moderate Buy" and a consensus target price of $108.89.

Omnicom Group Stock Up 0.2 %

NYSE OMC traded up $0.16 during trading hours on Friday, hitting $90.32. 2,083,135 shares of the company traded hands, compared to its average volume of 1,606,531. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. The business's 50-day moving average is $101.81 and its 200-day moving average is $97.24. The stock has a market capitalization of $17.62 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 2.07 and a beta of 0.94. Omnicom Group Inc. has a twelve month low of $83.65 and a twelve month high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, beating the consensus estimate of $2.02 by $0.01. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same quarter in the prior year, the firm posted $1.86 EPS. Sell-side analysts anticipate that Omnicom Group Inc. will post 7.92 earnings per share for the current year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, December 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. Omnicom Group's dividend payout ratio is presently 38.25%.

Omnicom Group Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.