On Holding AG (NYSE:ONON) Position Reduced by Axiom Advisory LLC

Axiom Advisory LLC reduced its position in On Holding AG (NYSE:ONON) by 50.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,323 shares of the company’s stock after selling 10,656 shares during the period. Axiom Advisory LLC’s holdings in ON were worth $518,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Ameritas Advisory Services LLC grew its stake in ON by 1.3% during the 2nd 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 in the last quarter. Artemis Investment Management LLP boosted its holdings in shares of ON by 1.9% during the second quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock worth $637,000 after purchasing an additional 302 shares during the period. Crossmark Global Holdings Inc. grew its position in ON by 3.2% during the second quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock valued at $404,000 after purchasing an additional 325 shares in the last quarter. Asset Dedication LLC increased its stake in ON by 25.8% in the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after buying an additional 327 shares during the period. Finally, King Luther Capital Management Corp lifted its position in ON by 0.7% in the 2nd quarter. King Luther Capital Management Corp now owns 56,021 shares of the company’s stock worth $2,174,000 after buying an additional 405 shares in the last quarter. Institutional investors and hedge funds own 33.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ONON shares. JPMorgan Chase & Co. upped 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 Monday, June 17th. Piper Sandler upped their target price on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Bank of America raised ON from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $21.00 to $55.00 in a research note on Monday, September 23rd. Sanford C. Bernstein initiated coverage on ON in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $50.00 price target for the company. Finally, The Goldman Sachs Group raised their price objective on shares of ON from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, ON has a consensus rating of “Moderate Buy” and a consensus price target of $48.90.

ON Stock Performance

Shares of NYSE:ONON opened at $51.74 on Wednesday. On Holding AG has a 52-week low of $23.41 and a 52-week high of $52.62. The company has a market cap of $32.58 billion, a P/E ratio of 117.59, a P/E/G ratio of 1.22 and a beta of 2.24. The stock’s 50-day moving average is $45.71 and its 200-day moving average is $40.07.

ON (NYSE:ONON) last released its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) 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 business had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. As a group, equities analysts predict that On Holding AG will post 0.81 EPS for the current year.

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.