William Blair Investment Management LLC Lowers Stake in On Holding AG (NYSE:ONON)

William Blair Investment Management LLC lowered its position in On Holding AG (NYSE:ONON) by 6.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,215,444 shares of the company’s stock after selling 224,704 shares during the quarter. William Blair Investment Management LLC owned approximately 0.51% of ON worth $124,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. Ameritas Advisory Services LLC boosted its holdings 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 during the period. Artemis Investment Management LLP boosted its holdings in 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 in the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of ON by 3.2% during the 2nd 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 boosted its position in ON by 25.8% during the 2nd 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. Finally, National Bank of Canada FI grew its stake in ON by 24.0% in the second quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock worth $98,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Wall Street Analysts Forecast Growth

ONON has been the topic of a number of recent research reports. Morgan Stanley upped their price objective on shares of ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Raymond James assumed coverage on shares of ON in a research note on Wednesday, July 31st. They set an “outperform” rating and a $46.00 target price for the company. HSBC initiated coverage on shares of ON in a research note on Thursday, September 5th. They issued a “hold” rating and a $52.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and set a $52.00 price target on shares of ON in a report on Friday, August 23rd. Finally, Hsbc Global Res upgraded shares of ON to a “hold” rating in a research report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ON currently has an average rating of “Moderate Buy” and a consensus target price of $46.16.

ON Stock Down 0.9 %

ON stock opened at $48.62 on Friday. On Holding AG has a twelve month low of $23.41 and a twelve month high of $49.35. The company’s 50-day moving average price is $41.80 and its 200-day moving average price is $38.00. The company has a market cap of $30.61 billion, a PE ratio of 110.50, a price-to-earnings-growth ratio of 1.29 and a beta of 2.24.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 13.02% and a net margin of 7.42%. As a group, sell-side analysts expect that On Holding AG will post 0.82 earnings per share for the current fiscal 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.