Robeco Schweiz AG lowered its stake in On Holding AG (NYSE:ONON – Free Report) by 54.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 20,013 shares of the company’s stock after selling 23,880 shares during the quarter. Robeco Schweiz AG’s holdings in ON were worth $593,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Signaturefd LLC lifted its position in shares of ON by 29.5% in the 3rd quarter. Signaturefd LLC now owns 1,598 shares of the company’s stock worth $47,000 after purchasing an additional 364 shares during the period. Investment House LLC bought a new stake in shares of ON during the 3rd quarter valued at about $3,194,000. Guardian Partners Inc. bought a new stake in shares of ON during the 3rd quarter valued at about $41,000. OceanIQ Capital LLC boosted its stake in shares of ON by 67.5% during the 3rd quarter. OceanIQ Capital LLC now owns 6,700 shares of the company’s stock valued at $198,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Independent Wealth Network Inc. increased its position in shares of ON by 72.8% during the third quarter. Independent Wealth Network Inc. now owns 13,135 shares of the company’s stock valued at $389,000 after buying an additional 5,535 shares during the period. 36.39% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other ON news, CEO Caspar Coppetti bought 65,000 shares of the stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the acquisition, the chief executive officer owned 2,440,855 shares of the company’s stock, valued at approximately $74,861,022.85. This trade represents a 2.74% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Olivier Bernhard bought 65,000 shares of the stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the acquisition, the insider directly owned 5,228,184 shares of the company’s stock, valued at approximately $160,348,403.28. The trade was a 1.26% increase in their position. The SEC filing for this purchase provides additional information.
ON Trading Up 0.0%
Shares of NYSE ONON opened at $32.52 on Monday. On Holding AG has a 1 year low of $26.36 and a 1 year high of $51.08. The stock has a market cap of $20.75 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 0.64 and a beta of 2.08. The firm has a 50-day moving average of $30.48 and a 200 day moving average of $34.53. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.83 and a quick ratio of 2.25.
ON (NYSE:ONON – Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%. The company’s revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) EPS. As a group, sell-side analysts expect that On Holding AG will post 1.50 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the stock. Zacks Research upgraded shares of ON from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. Citigroup restated a “buy” rating on shares of ON in a report on Wednesday, September 23rd. Wolfe Research assumed coverage on ON in a research report on Wednesday. They set an “outperform” rating and a $47.00 price objective on the stock. Stifel Nicolaus cut their price objective on ON from $60.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Finally, Berenberg Bank set a $38.00 target price on ON in a report on Monday, September 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ON currently has an average rating of “Moderate Buy” and an average price target of $43.48.
About ON
On Holding AG, commonly known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company serves athletes and everyday consumers with products designed for running, training, outdoor activities and lifestyle use.
On is best known for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and the Speedboard propulsion system. Its product portfolio also includes athletic clothing, outerwear and accessories.
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