Royal Bank of Canada Has $16.93 Million Holdings in On Holding AG $ONON

Royal Bank of Canada trimmed its holdings in shares of On Holding AG (NYSE:ONON) by 3.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 497,619 shares of the company’s stock after selling 16,513 shares during the period. Royal Bank of Canada owned 0.08% of ON worth $16,929,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Morgan Stanley boosted its stake 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. Platinum Paramount Investment LTD. bought a new position in shares of ON in the fourth quarter valued at about $525,784,000. Sinvest Investments II Ltd. acquired a new position in ON during the 4th quarter worth about $390,432,000. Bamco Inc. NY lifted its position in ON by 13.9% during the 4th quarter. Bamco Inc. NY now owns 5,405,486 shares of the company’s stock worth $251,247,000 after buying an additional 658,933 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in ON by 44.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,318,415 shares of the company’s stock worth $138,865,000 after acquiring an additional 1,026,804 shares during the last quarter. Institutional investors own 36.39% of the company’s stock.

Insider Activity at ON

In other news, insider Olivier Bernhard purchased 60,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the transaction, the insider owned 5,163,184 shares of the company’s stock, valued at $189,127,429.92. The trade was a 1.18% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Michael Allemann bought 60,000 shares of ON stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the purchase, the chief executive officer directly owned 2,841,108 shares in the company, valued at $104,069,786.04. This trade represents a 2.16% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 180,000 shares of company stock valued at $6,594,000. Insiders own 68.57% of the company’s stock.

ON Price Performance

Shares of ONON opened at $37.31 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26. The stock has a market cap of $23.81 billion, a P/E ratio of 40.12, a price-to-earnings-growth ratio of 0.71 and a beta of 2.12. The stock’s 50-day moving average price is $37.40 and its two-hundred day moving average price is $39.01. On Holding AG has a 1 year low of $31.41 and a 1 year high of $52.20.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wall Street Zen downgraded shares of ON from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. KeyCorp lowered their price target on shares of ON from $58.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Needham & Company LLC dropped their price objective on shares of ON from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Guggenheim reaffirmed a “buy” rating and set a $51.00 price objective on shares of ON in a report on Wednesday, May 13th. Finally, Barclays decreased their price objective on ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, ON has an average rating of “Moderate Buy” and an average price target of $53.63.

ON 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.