RFG Advisory LLC trimmed its position in shares of On Holding AG (NYSE:ONON – Free Report) by 58.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 12,142 shares of the company’s stock after selling 16,762 shares during the period. RFG Advisory LLC’s holdings in ON were worth $413,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jacobi Capital Management LLC raised its position in shares of ON by 3.6% in the 4th quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company’s stock worth $320,000 after acquiring an additional 240 shares in the last quarter. Parallel Advisors LLC grew its stake in ON by 2.8% in the fourth quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock worth $486,000 after purchasing an additional 285 shares during the period. J.W. Cole Advisors Inc. grew its stake in ON by 2.4% in the fourth quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company’s stock worth $571,000 after purchasing an additional 285 shares during the period. MetLife Investment Management LLC raised its holdings in ON by 2.2% in the fourth quarter. MetLife Investment Management LLC now owns 14,411 shares of the company’s stock worth $670,000 after purchasing an additional 308 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV raised its holdings in ON by 0.3% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 110,637 shares of the company’s stock worth $5,142,000 after purchasing an additional 318 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.
Wall Street Analyst Weigh In
ONON has been the topic of a number of recent research reports. KeyCorp reduced their target price on shares of ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Zacks Research cut shares of ON from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 11th. Truist Financial dropped their price objective on shares of ON from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Evercore set a $42.00 price objective on shares of ON in a report on Tuesday, May 12th. Finally, Weiss Ratings raised shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, ON has an average rating of “Moderate Buy” and a consensus price target of $55.05.
Insider Activity
In other news, insider Olivier Bernhard bought 60,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the acquisition, the insider owned 5,163,184 shares of the company’s stock, valued at approximately $189,127,429.92. This represents a 1.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Michael Allemann bought 60,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the purchase, the chief executive officer owned 2,841,108 shares of the company’s stock, valued at approximately $104,069,786.04. This represents a 2.16% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 180,000 shares of company stock valued at $6,594,000 and sold 16,600 shares valued at $580,710.
ON Trading Up 0.2%
ON stock opened at $35.47 on Wednesday. On Holding AG has a 12 month low of $31.41 and a 12 month high of $55.95. The company has a market capitalization of $22.64 billion, a price-to-earnings ratio of 38.14, a price-to-earnings-growth ratio of 0.67 and a beta of 2.10. The business’s fifty day simple moving average is $37.25 and its two-hundred day simple moving average is $41.02. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26.
ON (NYSE:ONON – Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.11. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. ON had a return on equity of 15.72% and a net margin of 7.92%.The company’s revenue was up 14.5% on a year-over-year basis. During the same period last year, the company earned $0.21 earnings per share. As a group, equities analysts predict that On Holding AG will post 1.5 earnings per share for the current fiscal year.
ON Company Profile
On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.
On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.
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