On Holding AG (NYSE:ONON) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. reduced its holdings in shares of On Holding AG (NYSE:ONON) by 12.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 14,210 shares of the company’s stock after selling 1,980 shares during the period. Daiwa Securities Group Inc.’s holdings in ON were worth $551,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ONON. Ameritas Advisory Services LLC grew its position in ON by 1.3% during 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 grew its stake in ON by 1.9% during the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock worth $637,000 after buying an additional 302 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of ON by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock worth $404,000 after acquiring an additional 325 shares during the period. Asset Dedication LLC boosted its position in shares of 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 buying an additional 327 shares during the period. Finally, National Bank of Canada FI raised its stake in ON by 24.0% during the 2nd quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock valued at $98,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 33.11% of the company’s stock.

ON Stock Performance

NYSE ONON opened at $49.89 on Tuesday. The company has a market capitalization of $31.41 billion, a P/E ratio of 113.39, a P/E/G ratio of 1.37 and a beta of 2.24. On Holding AG has a 52-week low of $23.41 and a 52-week high of $50.08. The company has a fifty day moving average of $42.04 and a 200-day moving average of $38.16.

ON (NYSE:ONON) last announced its 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). The company had revenue of $627.66 million for the quarter, compared to the consensus estimate of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. As a group, analysts forecast that On Holding AG will post 0.82 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on ONON. Morgan Stanley boosted their price target on shares of ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. The Goldman Sachs Group boosted their price target on shares of ON from $41.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Hsbc Global Res raised ON to a “hold” rating in a research report on Thursday, September 5th. Barclays raised their price target on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, Evercore ISI raised shares of ON to an “overweight” rating and upped their price target for the stock from $43.00 to $47.00 in a research note on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, ON currently has a consensus rating of “Moderate Buy” and a consensus price target 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.