RFG Advisory LLC Cuts Stake in On Holding AG $ONON

RFG Advisory LLC reduced its holdings in shares of On Holding AG (NYSE:ONON) by 58.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,142 shares of the company’s stock after selling 16,762 shares during the period. RFG Advisory LLC’s holdings in ON were worth $413,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ONON. Cullen Frost Bankers Inc. boosted its stake in shares of ON by 639.7% in the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after purchasing an additional 467 shares in the last quarter. Caitlin John LLC purchased a new position in ON in the 4th quarter worth $25,000. MidAtlantic Capital Management Inc. purchased a new position in ON in the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd lifted its stake in ON by 555.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after purchasing an additional 594 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in ON by 109.9% in the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after purchasing an additional 421 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Stock Performance

Shares of NYSE:ONON opened at $35.47 on Wednesday. The company has a market cap of $22.64 billion, a price-to-earnings ratio of 38.14, a price-to-earnings-growth ratio of 0.67 and a beta of 2.10. The company has a 50-day moving average price of $37.25 and a 200-day moving average price of $41.02. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26. On Holding AG has a 12 month low of $31.41 and a 12 month high of $55.95.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ONON. Stifel Nicolaus set a $58.00 price objective on ON in a research note on Tuesday, March 3rd. Guggenheim restated a “buy” rating and set a $51.00 target price on shares of ON in a report on Wednesday, May 13th. Telsey Advisory Group reduced their price target on ON from $60.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Truist Financial decreased their price target on ON from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Finally, Barclays lowered their price objective on ON from $57.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.05.

Insiders Place Their Bets

In other ON news, CEO David Michael Allemann acquired 60,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the transaction, the chief executive officer owned 2,841,108 shares in the company, valued at $104,069,786.04. This represents a 2.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Caspar Felix Coppetti bought 60,000 shares of ON stock in a transaction dated 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 purchase, the chief executive officer directly owned 2,375,855 shares of the company’s stock, valued at approximately $87,051,327.20. This trade represents a 2.59% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 180,000 shares of company stock worth $6,594,000 and have sold 16,600 shares worth $580,710.

About ON

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.