On Holding AG (NYSE:ONON) Shares Sold by Prudential PLC

Prudential PLC cut its holdings in shares of On Holding AG (NYSE:ONON) by 12.8% during the second quarter, HoldingsChannel.com reports. The fund owned 15,941 shares of the company’s stock after selling 2,340 shares during the period. Prudential PLC’s holdings in ON were worth $619,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ONON. WD Rutherford LLC acquired a new position in ON during the first quarter worth about $52,000. Asset Dedication LLC boosted its position in ON by 25.8% during the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after acquiring an additional 327 shares during the last quarter. Principal Securities Inc. acquired a new position in ON during the fourth quarter worth about $88,000. Orion Capital Management LLC boosted its position in ON by 106.7% during the first quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock worth $88,000 after acquiring an additional 1,280 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in ON by 24.0% during the second quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock worth $98,000 after acquiring an additional 500 shares during the last quarter. 33.11% of the stock is currently owned by institutional investors and hedge funds.

ON Trading Up 5.6 %

Shares of NYSE:ONON opened at $49.03 on Friday. On Holding AG has a 52 week low of $23.41 and a 52 week high of $49.35. The company’s 50 day moving average is $41.32 and its two-hundred day moving average is $37.82. The company has a market cap of $30.87 billion, a PE ratio of 111.43, a P/E/G ratio of 1.23 and a beta of 2.24.

ON (NYSE:ONON) last issued its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a net margin of 7.42% and a return on equity of 13.02%. The company had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. As a group, equities research analysts expect that On Holding AG will post 0.83 EPS for the current year.

Wall Street Analyst Weigh In

ONON has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on shares of ON from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, August 12th. Morgan Stanley boosted their target price on shares of ON from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. KeyCorp boosted their target price on shares of ON from $40.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. TD Cowen boosted their target price on shares of ON from $48.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Sanford C. Bernstein initiated coverage on shares of ON in a report on Tuesday, June 11th. They issued an “outperform” rating and a $50.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, ON has an average rating of “Moderate Buy” and an average target price of $46.16.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.