Villere ST Denis J & Co. LLC Lowers Position in On Holding AG $ONON

Villere ST Denis J & Co. LLC decreased its position in shares of On Holding AG (NYSE:ONON) by 6.5% during the first quarter, Holdings Channel reports. The fund owned 615,787 shares of the company’s stock after selling 43,020 shares during the period. ON makes up about 2.3% of Villere ST Denis J & Co. LLC’s holdings, making the stock its 26th biggest holding. Villere ST Denis J & Co. LLC’s holdings in ON were worth $20,949,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in ONON. Platinum Paramount Investment LTD. purchased a new position in shares of ON in the 4th quarter valued at approximately $525,784,000. Sinvest Investments II Ltd. purchased a new stake in ON in the fourth quarter worth $390,432,000. Morgan Stanley raised its holdings in ON by 40.9% in the fourth quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock worth $1,121,092,000 after purchasing an additional 6,997,455 shares in the last quarter. FengHe Fund Management Pte. Ltd. purchased a new position in ON during the fourth quarter valued at $142,425,000. Finally, Norges Bank bought a new stake in shares of ON during the 4th quarter valued at $128,826,000. Institutional investors own 36.39% of the company’s stock.

ON Stock Up 4.5%

ONON traded up $1.67 during trading on Friday, hitting $38.44. 5,753,056 shares of the company’s stock traded hands, compared to its average volume of 4,499,183. The stock has a market capitalization of $24.53 billion, a price-to-earnings ratio of 41.33, a PEG ratio of 0.67 and a beta of 2.12. The company’s 50 day simple moving average is $37.34 and its two-hundred day simple moving average is $40.41. On Holding AG has a 12-month low of $31.41 and a 12-month high of $54.41. 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) last released its quarterly earnings data 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. ON had a net margin of 7.92% and a return on equity of 15.72%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the company earned $0.21 earnings per share. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. Analysts predict that On Holding AG will post 1.52 earnings per share for the current fiscal year.

Insider Transactions at ON

In other news, CEO Martin Hoffmann sold 4,150 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $35.84, for a total transaction of $148,736.00. Following the transaction, the chief executive officer directly owned 1,385,099 shares of the company’s stock, valued at $49,641,948.16. This represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Olivier Bernhard purchased 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 completion of the purchase, the insider owned 5,163,184 shares in the company, valued at approximately $189,127,429.92. The trade was a 1.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 180,000 shares of company stock valued at $6,594,000 and sold 12,450 shares valued at $441,352. 68.57% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ONON shares. Needham & Company LLC reduced their target price on shares of ON from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Zacks Research raised shares of ON from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Raymond James Financial upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 target price for the company in a report on Thursday, April 23rd. Weiss Ratings upgraded ON from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen upgraded ON from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given 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, ON currently has an average rating of “Moderate Buy” and an average target price of $53.79.

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.