Red Spruce Capital LLC Trims Holdings in On Holding AG (NYSE:ONON)

Red Spruce Capital LLC trimmed its holdings in On Holding AG (NYSE:ONON) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,365 shares of the company’s stock after selling 584 shares during the quarter. Red Spruce Capital LLC’s holdings in ON were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of ONON. Quarry LP purchased a new position in shares of ON during the second quarter valued at approximately $32,000. WD Rutherford LLC purchased a new stake in shares of ON in the first quarter worth $52,000. Asset Dedication LLC increased its holdings in shares of ON by 25.8% during 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 in the last quarter. Orion Capital Management LLC raised its position in shares of ON by 106.7% in the 1st quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock worth $88,000 after purchasing an additional 1,280 shares during the last quarter. Finally, National Bank of Canada FI grew its position 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 purchasing an additional 500 shares during the last quarter. 33.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on ONON shares. TD Cowen upped their target price on shares of ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Sanford C. Bernstein initiated coverage on ON in a research note on Tuesday, June 11th. They set an “outperform” rating and a $50.00 target price on the stock. HSBC started coverage on ON in a research note on Thursday, September 5th. They issued a “hold” rating and a $52.00 price target for the company. Raymond James started coverage on ON in a research report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price objective on the stock. Finally, KeyCorp boosted their target price on ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Five research 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, the company has a consensus rating of “Moderate Buy” and an average price target of $48.90.

ON Trading Up 4.1 %

Shares of ONON traded up $2.04 during trading hours on Friday, reaching $51.71. 3,510,880 shares of the stock traded hands, compared to its average volume of 5,164,025. The company has a market cap of $32.56 billion, a P/E ratio of 117.52, a price-to-earnings-growth ratio of 1.26 and a beta of 2.24. The company’s 50-day moving average price is $45.24 and its two-hundred day moving average price is $39.77. On Holding AG has a 52-week low of $23.41 and a 52-week high of $52.16.

ON (NYSE:ONON) last released its quarterly earnings data 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 return on equity of 13.02% and a net margin of 7.42%. The business had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. On average, research analysts forecast that On Holding AG will post 0.82 EPS for the current year.

ON 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.