On Holding AG $ONON Stock: Villere ST Denis J & Co. LLC Trims Holdings

Villere ST Denis J & Co. LLC lessened its holdings in On Holding AG (NYSE:ONON) by 6.3% during the third quarter, Holdings Channel.com reports. The firm owned 546,678 shares of the company’s stock after selling 36,558 shares during the quarter. ON makes up 1.7% of Villere ST Denis J & Co. LLC’s investment portfolio, making the stock its 26th largest position. Villere ST Denis J & Co. LLC’s holdings in ON were worth $16,187,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hohimer Wealth Management LLC acquired a new stake in shares of ON in the 3rd quarter valued at approximately $1,113,000. J. Derek Lewis & Associates Inc. acquired a new position in ON during the third quarter worth $227,000. Pictet Asset Management Holding SA grew its holdings in ON by 116.8% during the third quarter. Pictet Asset Management Holding SA now owns 1,741,829 shares of the company’s stock worth $51,571,000 after acquiring an additional 938,285 shares during the period. CenterBook Partners LP purchased a new position in ON in the third quarter worth $211,000. Finally, Kestra Advisory Services LLC raised its position in ON by 36.3% in the third quarter. Kestra Advisory Services LLC now owns 19,957 shares of the company’s stock worth $591,000 after acquiring an additional 5,315 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Stock Performance

NYSE ONON opened at $37.38 on Tuesday. On Holding AG has a 1-year low of $26.36 and a 1-year high of $51.08. The company has a market capitalization of $23.86 billion, a P/E ratio of 25.43, a PEG ratio of 0.76 and a beta of 2.05. The business has a 50 day moving average price of $31.67 and a 200 day moving average price of $36.47. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.83 and a quick ratio of 2.25.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.07). The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.09) earnings per share. Sell-side analysts expect that On Holding AG will post 1.50 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Bank of America decreased their target price on shares of ON from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, September 17th. Piper Sandler reiterated an “overweight” rating on shares of ON in a report on Monday. Sanford C. Bernstein reiterated an “outperform” rating on shares of ON in a research note on Thursday, September 24th. JPMorgan Chase & Co. raised their price objective on shares of ON from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, October 1st. Finally, KeyCorp reissued an “overweight” rating on shares of ON in a report on Monday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.73.

Insider Buying and Selling at ON

In other news, insider Olivier Bernhard bought 65,000 shares of the stock in a transaction on Friday, August 14th. The shares were bought at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the acquisition, the insider owned 5,228,184 shares of the company’s stock, valued at approximately $160,348,403.28. This trade represents a 1.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Caspar Coppetti purchased 65,000 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was purchased at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the transaction, the chief executive officer owned 2,440,855 shares of the company’s stock, valued at approximately $74,861,022.85. This represents a 2.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

About ON