Vontobel Holding Ltd. Sells 12,624 Shares of On Holding AG (NYSE:ONON)

Vontobel Holding Ltd. decreased its position in shares of On Holding AG (NYSE:ONON) by 8.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,687 shares of the company’s stock after selling 12,624 shares during the quarter. Vontobel Holding Ltd.’s holdings in ON were worth $3,471,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Durable Capital Partners LP increased its holdings in shares of ON by 114.5% during the first quarter. Durable Capital Partners LP now owns 11,028,390 shares of the company’s stock worth $278,357,000 after purchasing an additional 5,887,034 shares during the period. American Century Companies Inc. boosted its holdings in ON by 109.3% in the third quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock valued at $182,688,000 after acquiring an additional 3,428,794 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of ON by 1,022.9% during the first quarter. 1832 Asset Management L.P. now owns 2,542,200 shares of the company’s stock worth $78,884,000 after buying an additional 2,315,800 shares during the period. Bamco Inc. NY raised its position in shares of ON by 243.0% in the 3rd quarter. Bamco Inc. NY now owns 3,028,002 shares of the company’s stock worth $84,239,000 after acquiring an additional 2,145,318 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. bought a new stake in ON in the third quarter worth approximately $59,539,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ONON. Barclays began coverage on ON in a report on Monday, April 1st. They issued an “overweight” rating and a $38.00 target price on the stock. Evercore ISI reduced their price target on shares of ON from $40.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, March 13th. Morgan Stanley reissued an “overweight” rating and issued a $32.00 target price on shares of ON in a research report on Thursday, April 11th. Stifel Nicolaus reissued a “buy” rating and issued a $40.00 price target on shares of ON in a research report on Tuesday, March 5th. Finally, William Blair assumed coverage on ON in a report on Tuesday. They set an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, ON has a consensus rating of “Moderate Buy” and a consensus price target of $37.13.

ON Price Performance

NYSE:ONON opened at $33.01 on Friday. On Holding AG has a 1-year low of $23.41 and a 1-year high of $37.08. The company has a market capitalization of $20.78 billion, a price-to-earnings ratio of 122.26, a PEG ratio of 1.30 and a beta of 2.16. The business has a 50 day moving average of $33.04 and a 200 day moving average of $29.30.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). ON had a net margin of 4.04% and a return on equity of 6.85%. The company had revenue of $504.69 million for the quarter, compared to analysts’ expectations of $515.30 million. As a group, sell-side analysts anticipate that On Holding AG will post 0.67 EPS for the current year.

About ON

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.