On Holding AG $ONON Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its stake in shares of On Holding AG (NYSE:ONON) by 34.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,228 shares of the company’s stock after selling 35,307 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in ON were worth $2,253,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Bison Wealth LLC boosted its holdings in ON by 35.7% in the 4th quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock worth $509,000 after acquiring an additional 2,442 shares during the period. Prudential Financial Inc. purchased a new stake in shares of ON during the second quarter valued at approximately $517,000. Invesco Ltd. lifted its position in shares of ON by 305.5% during the second quarter. Invesco Ltd. now owns 157,281 shares of the company’s stock worth $8,186,000 after purchasing an additional 118,498 shares in the last quarter. Cresset Asset Management LLC boosted its stake in shares of ON by 13.5% in the second quarter. Cresset Asset Management LLC now owns 7,232 shares of the company’s stock valued at $376,000 after purchasing an additional 860 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in ON by 91.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,661 shares of the company’s stock valued at $139,000 after purchasing an additional 1,273 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

Insiders Place Their Bets

In related news, insider Olivier Bernhard purchased 60,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the transaction, the insider owned 5,163,184 shares of the company’s stock, valued at $189,127,429.92. This trade represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Caspar Felix Coppetti purchased 60,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average price of $36.64 per share, for a total transaction of $2,198,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,375,855 shares in the company, valued at approximately $87,051,327.20. This trade represents a 2.59% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 180,000 shares of company stock valued at $6,594,000 over the last quarter. Insiders own 68.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ONON. Truist Financial cut their price objective on shares of ON from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Weiss Ratings upgraded ON from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Wall Street Zen lowered ON from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. KeyCorp dropped their price objective on ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Finally, Raymond James Financial upgraded ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 target price for the company in a research note on Thursday, April 23rd. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.63.

ON Stock Down 2.1%

Shares of NYSE:ONON opened at $36.34 on Friday. The stock has a market capitalization of $23.19 billion, a price-to-earnings ratio of 39.07, a price-to-earnings-growth ratio of 0.68 and a beta of 2.12. On Holding AG has a 1-year low of $31.41 and a 1-year high of $52.20. The company’s fifty day moving average is $37.56 and its two-hundred day moving average is $39.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.35 by $0.11. ON had a net margin of 7.92% and a return on equity of 15.72%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business posted $0.21 EPS. The company’s quarterly revenue was up 14.5% on a year-over-year basis. Equities analysts anticipate that On Holding AG will post 1.5 EPS for the current 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.