On Holding AG $ONON Shares Sold by DE Burlo Group Inc.

DE Burlo Group Inc. decreased its holdings in shares of On Holding AG (NYSE:ONON) by 19.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,150 shares of the company’s stock after selling 36,050 shares during the quarter. DE Burlo Group Inc.’s holdings in ON were worth $6,932,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ONON. Cullen Frost Bankers Inc. boosted its position in ON by 639.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after acquiring an additional 467 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in ON in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd lifted its stake in ON by 555.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after purchasing an additional 594 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in ON by 109.9% in the 4th quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after purchasing an additional 421 shares in the last quarter. Finally, Bogart Wealth LLC boosted its holdings in shares of ON by 88.9% during the 4th quarter. Bogart Wealth LLC now owns 850 shares of the company’s stock worth $40,000 after purchasing an additional 400 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ONON has been the subject of several recent research reports. KeyCorp cut their price target on ON from $58.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Truist Financial dropped their target price on ON from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Stifel Nicolaus set a $58.00 target price on ON in a research note on Tuesday, March 3rd. Zacks Research lowered ON from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 11th. Finally, Barclays lowered their price target on shares of ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $55.05.

ON Trading Down 1.6%

Shares of ONON stock opened at $38.60 on Friday. On Holding AG has a 1-year low of $31.41 and a 1-year high of $55.95. The firm has a market cap of $24.63 billion, a PE ratio of 41.51, a price-to-earnings-growth ratio of 0.75 and a beta of 2.10. The company has a 50-day moving average of $36.58 and a two-hundred day moving average of $41.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business posted $0.21 EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, analysts predict that On Holding AG will post 1.47 EPS for the current year.

Insider Transactions at ON

In other news, CEO Caspar Felix Coppetti bought 60,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of $36.64 per share, with a total value of $2,198,400.00. Following the transaction, the chief executive officer directly owned 2,375,855 shares in the company, valued at $87,051,327.20. The trade was a 2.59% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Michael Allemann purchased 60,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were acquired 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 chief executive officer directly owned 2,841,108 shares of the company’s stock, valued at approximately $104,069,786.04. This trade represents a 2.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders acquired 180,000 shares of company stock valued at $6,594,000 and sold 20,750 shares valued at $745,838. 68.57% of the stock is currently owned by corporate insiders.

About ON

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.