J.W. Cole Advisors Inc. Decreases Stock Holdings in On Holding AG (NYSE:ONON)

J.W. Cole Advisors Inc. decreased its holdings in shares of On Holding AG (NYSE:ONON) by 24.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,335 shares of the company’s stock after selling 3,350 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in ON were worth $518,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ameritas Advisory Services LLC raised its stake in shares of ON by 1.3% in the second quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock valued at $924,000 after acquiring an additional 300 shares during the period. Artemis Investment Management LLP raised its stake in shares of ON by 1.9% in the second quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock valued at $637,000 after acquiring an additional 302 shares during the period. Crossmark Global Holdings Inc. raised its stake in shares of ON by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock valued at $404,000 after acquiring an additional 325 shares during the period. Asset Dedication LLC raised its stake in shares of ON by 25.8% in the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after acquiring an additional 327 shares during the period. Finally, Sage Capital Advisors llc raised its stake in shares of ON by 0.3% in the third quarter. Sage Capital Advisors llc now owns 99,859 shares of the company’s stock valued at $5,008,000 after acquiring an additional 328 shares during the period. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Analysts Set New Price Targets

ONON has been the topic of several recent analyst reports. Evercore ISI raised shares of ON to an “overweight” rating and increased their target price for the company from $43.00 to $47.00 in a research note on Monday, August 12th. HSBC initiated coverage on shares of ON in a research note on Thursday, September 5th. They issued a “hold” rating and a $52.00 target price on the stock. Telsey Advisory Group reissued an “outperform” rating and issued a $47.00 target price on shares of ON in a research note on Tuesday, August 13th. Barclays raised their price target on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Finally, Morgan Stanley raised their price target on shares of ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.74.

ON Price Performance

Shares of ON stock opened at $48.81 on Thursday. On Holding AG has a 1 year low of $24.15 and a 1 year high of $52.80. The firm’s 50-day moving average is $48.43 and its two-hundred day moving average is $41.72. The stock has a market cap of $30.73 billion, a price-to-earnings ratio of 92.09 and a beta of 2.24.

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). ON had a net margin of 7.42% and a return on equity of 13.02%. The firm had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. On average, equities analysts expect that On Holding AG will post 0.76 earnings per share for the current year.

About ON

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.