On Holding AG (NYSE:ONON) Shares Sold by Villere ST Denis J & Co. LLC

Villere ST Denis J & Co. LLC lessened its holdings in On Holding AG (NYSE:ONON) by 21.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 742,186 shares of the company’s stock after selling 206,534 shares during the period. ON makes up 3.0% of Villere ST Denis J & Co. LLC’s portfolio, making the stock its 9th biggest position. Villere ST Denis J & Co. LLC’s holdings in ON were worth $37,221,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after buying an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after buying an additional 400 shares during the last quarter. Quarry LP bought a new stake in ON during the second quarter worth about $32,000. MFA Wealth Advisors LLC bought a new stake in ON during the third quarter worth about $50,000. Finally, Asset Dedication LLC grew its stake in 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 last quarter. 33.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ONON. Stifel Nicolaus increased their price target on shares of ON from $45.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. TD Cowen increased their price objective on shares of ON from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, September 30th. Truist Financial increased their target price on shares of ON from $51.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Telsey Advisory Group raised their price objective on shares of ON from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Bank of America upgraded shares of ON from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $21.00 to $55.00 in a report on Monday, September 23rd. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $50.37.

ON Price Performance

Shares of ONON opened at $51.52 on Friday. The firm has a 50-day moving average of $48.85 and a 200-day moving average of $42.47. On Holding AG has a one year low of $24.15 and a one year high of $52.80. The company has a market cap of $32.44 billion, a PE ratio of 97.21 and a beta of 2.25.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 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 firm had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. Analysts expect that On Holding AG will post 0.75 earnings per share for the current 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.