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

Public Employees Retirement System of Ohio reduced its stake in On Holding AG (NYSE:ONON) by 34.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 made changes to their positions in ONON. Cullen Frost Bankers Inc. increased its position in ON by 639.7% during the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after purchasing an additional 467 shares in the last quarter. Caitlin John LLC acquired a new position in ON in the 4th quarter valued at about $25,000. MidAtlantic Capital Management Inc. purchased a new position in ON in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in ON by 555.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock valued at $33,000 after purchasing an additional 594 shares in the last quarter. Finally, Ascentis Independent Advisors acquired a new stake in shares of ON during the 1st quarter worth about $34,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Price Performance

Shares of ON stock opened at $36.34 on Friday. On Holding AG has a twelve month low of $31.41 and a twelve month high of $52.20. The stock has a market capitalization of $23.19 billion, a P/E ratio of 39.07, a PEG ratio of 0.68 and a beta of 2.12. 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 business’s fifty day moving average price is $37.56 and its 200 day moving average price is $39.30.

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

Wall Street Analysts Forecast Growth

ONON has been the subject of a number of recent research reports. Raymond James Financial upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price target for the company in a report on Thursday, April 23rd. JPMorgan Chase & Co. started coverage on shares of ON in a research note on Thursday, July 2nd. They set an “overweight” rating and a $51.00 price objective on the stock. Wall Street Zen lowered shares of ON from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Zacks Research upgraded ON from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Finally, Needham & Company LLC lowered their price objective on ON from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.63.

Insider Transactions at ON

In other ON news, CEO David Michael Allemann purchased 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the acquisition, the chief executive officer owned 2,841,108 shares of the company’s stock, valued at approximately $104,069,786.04. This represents a 2.16% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Caspar Felix Coppetti purchased 60,000 shares of ON stock in a transaction on Thursday, May 14th. The shares were acquired at an average cost of $36.64 per share, for a total transaction of $2,198,400.00. Following the completion of the transaction, the chief executive officer owned 2,375,855 shares of the company’s stock, valued at $87,051,327.20. This represents a 2.59% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 180,000 shares of company stock worth $6,594,000. 68.57% of the stock is currently owned by company insiders.

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.