BlackRock Fund Advisors recently announced the acquisition of new stake in Omnicom Group Inc. (NYSE:OMC). The institutional investor has increased its shareholding in the Communication Services company by 6.24% to 13.75 million shares with purchase of 0.81 million shares. This fresh investment now brings its stake to 6.78% valued currently at $1.25 billion. In addition, Charles Schwab Investment Managem raised its holdings by 0.42 million to 8.46 million shares. And FIL Investment Advisors has lifted its position by 3.23% or 0.19 million shares – to 6.03 million shares.
With over 2.96 million Omnicom Group Inc. (OMC) shares trading Monday and a closing price of $85.64 on the day, the dollar volume was approximately $253.1 million. The shares have shown a positive half year performance of 21.63% and its price on 03/13/23 lost nearly -2.08%. Currently, there are 203.80M common shares owned by the public and among those 201.15M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for OMC have a consensus price objective of $95.90. The analysts have set the share’s price value over the next 12 months at a high of $112.00 and a low of $71.00. The average price target is 8.5% above its recent price level and a downside to the estimated low will see the stock lose -20.62% over that period. But an upside of 23.54% will see the stock hit the forecast high price target while median target price for the stock is $97.50.
Insiders at the company have transacted a total of 61 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 45 of these insider trades were purchases, accounting for 277,577 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 164,796 shares.
The top 3 mutual fund holders in Omnicom Group Inc. are Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 6.25 million shares of the company’s stock, all valued at over $566.3 million. The company bought an additional 49630.0 shares recently to bring their total holdings to about 3.08% of the shares outstanding. Vanguard Mid Cap Index Fund bought 7654.0 shares to see its total holdings expand to 4.76 million shares valued at over $431.01 million and representing 2.35% of the shares outstanding. Vanguard 500 Index Fund bought 11199.0 shares to bring its total holdings to over 4.73 million shares at a value of $428.21 million. Vanguard 500 Index Fund now owns shares totaling to 2.33% of the shares outstanding.
Shares of Omnicom Group Inc. (NYSE: OMC) opened at $86.04, down -$1.42 from a prior closing price of $87.46. However, the script later moved the day high at 87.47, down -2.08%. The company’s stock has a 5-day price change of -6.71% and 13.27% over the past three months. OMC shares are trading 4.99% year to date (YTD), with the 12-month market performance up to 11.31% higher. It has a 12-month low price of $61.31 and touched a high of $96.52 over the same period. OMC has an average intraday trading volume of 1.73 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.35%, -2.83%, and 14.59% respectively.
Institutional ownership of Omnicom Group Inc. (NYSE: OMC) shares accounts for 94.70% of the company’s 203.80M shares outstanding. Mutual fund holders own 39.73%, while other institutional holders and individual stakeholders account for 54.93% and 2.19% respectively.
It has a market capitalization of $17.46B and a beta (3y monthly) value of 0.85. The stock’s trailing 12-month PE ratio is 13.44, while the earnings-per-share (ttm) stands at $6.37. The company has a PEG of 4.98 and a Quick Ratio of 0.90 with the debt-to-equity ratio at 1.72. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.09% over the week and 1.83% over the month.
Analysts forecast that Omnicom Group Inc. (OMC) will achieve an EPS of $1.4 for the current quarter, $1.77 for the next quarter and $7.53 for 2024. The lowest estimate earnings-per-share for the quarter is $1.36 while analysts give the company a high EPS estimate of $1.45. Comparatively, EPS for the current quarter was $1.39 a year ago. Earnings per share for the fiscal year are expected to decrease by -0.30%, and 5.37% over the next financial year. EPS should shrink at an annualized rate of 2.70% over the next five years, compared to 4.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Omnicom Group Inc. (OMC) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 7 of the 14 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the OMC, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on February 08, 2023, with the firm’s price target at $85-$95. Wells Fargo coverage for the Omnicom Group Inc. (OMC) stock in a research note released on July 08, 2022 offered a Overweight rating with a price target of $73. Argus on their part issued Buy rating on March 18, 2022.
