Geode Capital Management LLC Purchases 48,868 Shares of Omnicom Group Inc. $OMC

Geode Capital Management LLC lifted its position in Omnicom Group Inc. (NYSE:OMC) by 0.9% in the second quarter, Holdings Channel.com reports. The firm owned 5,339,385 shares of the business services provider’s stock after purchasing an additional 48,868 shares during the quarter. Geode Capital Management LLC’s holdings in Omnicom Group were worth $382,717,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Forsta AP Fonden boosted its stake in Omnicom Group by 1.6% in the second quarter. Forsta AP Fonden now owns 39,100 shares of the business services provider’s stock worth $2,813,000 after buying an additional 600 shares in the last quarter. National Pension Service lifted its holdings in shares of Omnicom Group by 3.1% in the 2nd quarter. National Pension Service now owns 82,147 shares of the business services provider’s stock worth $5,910,000 after acquiring an additional 2,455 shares during the last quarter. Vise Technologies Inc. purchased a new stake in shares of Omnicom Group in the 2nd quarter valued at $742,000. Allworth Financial LP grew its holdings in shares of Omnicom Group by 17.9% during the 2nd quarter. Allworth Financial LP now owns 2,819 shares of the business services provider’s stock valued at $203,000 after purchasing an additional 428 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Omnicom Group by 2.5% during the 2nd quarter. ProShare Advisors LLC now owns 43,951 shares of the business services provider’s stock valued at $3,162,000 after purchasing an additional 1,084 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Trading Down 1.3%

OMC opened at $72.13 on Friday. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $105.99. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80. The business has a 50 day simple moving average of $76.72 and a two-hundred day simple moving average of $75.11. The firm has a market capitalization of $13.92 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 1.43 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, October 21st. The business services provider reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.02 billion. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $2.03 EPS. Analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on OMC shares. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Barclays boosted their target price on Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group has a consensus rating of “Moderate Buy” and an average target price of $96.57.

Omnicom Group Company 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.