Rathbones Group PLC Invests $305,000 in On Holding AG $ONON

Rathbones Group PLC acquired a new stake in On Holding AG (NYSE:ONON) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,864 shares of the company’s stock, valued at approximately $305,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bison Wealth LLC lifted its position in shares of ON by 35.7% during the 4th quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock valued at $509,000 after acquiring an additional 2,442 shares during the period. Envestnet Asset Management Inc. increased its stake in ON by 11.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 413,491 shares of the company’s stock valued at $18,161,000 after purchasing an additional 40,837 shares in the last quarter. Allworth Financial LP raised its holdings in ON by 52.8% during the first quarter. Allworth Financial LP now owns 2,363 shares of the company’s stock worth $106,000 after purchasing an additional 817 shares during the last quarter. CWM LLC boosted its position in ON by 22.2% during the first quarter. CWM LLC now owns 1,259 shares of the company’s stock worth $55,000 after purchasing an additional 229 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its holdings in ON by 26.2% in the first quarter. SBI Securities Co. Ltd. now owns 5,998 shares of the company’s stock valued at $263,000 after purchasing an additional 1,246 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ONON has been the topic of a number of research reports. Raymond James Financial lowered their price objective on shares of ON from $66.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 21st. Piper Sandler dropped their price objective on shares of ON from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. TD Cowen reduced their target price on ON from $63.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Jefferies Financial Group set a $40.00 target price on ON and gave the company an “underperform” rating in a report on Wednesday, August 13th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of ON in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $61.60.

ON Trading Up 0.6%

Shares of ONON opened at $35.18 on Wednesday. On Holding AG has a fifty-two week low of $34.38 and a fifty-two week high of $64.05. The company has a market capitalization of $22.15 billion, a PE ratio of 78.19, a price-to-earnings-growth ratio of 4.34 and a beta of 2.18. The stock has a fifty day moving average of $41.84 and a two-hundred day moving average of $48.30. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.35). The business had revenue of $944.29 million for the quarter, compared to analyst estimates of $707.74 million. ON had a return on equity of 8.75% and a net margin of 4.45%.ON’s revenue for the quarter was up 32.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 EPS. As a group, analysts forecast that On Holding AG will post 0.66 EPS for the current year.

ON Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.