Bank of America Corp DE Has $43.89 Million Position in On Holding AG $ONON

Key Points

• Bank of America reduced its On Holding stake by 24.9% in the first quarter, selling 428,131 shares and retaining 1.29 million shares valued at $43.89 million. Institutional investors collectively own 36.39% of ONON.
• Analysts maintain a generally positive outlook, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $48.57, despite several recent target reductions.
• ONON shares opened at $31.10, near their 52-week low, after the company missed quarterly earnings and revenue estimates. Revenue still grew 13.5% year over year, while management raised its full-year gross-margin outlook to at least 65%.

Bank of America Corp DE lessened its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 24.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,290,031 shares of the company's stock after selling 428,131 shares during the quarter. Bank of America Corp DE owned 0.20% of ON worth $43,887,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ONON. Cullen Frost Bankers Inc. lifted its stake in shares of ON by 639.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company's stock valued at $25,000 after buying an additional 467 shares in the last quarter. Caitlin John LLC acquired a new stake in shares of ON in the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC raised its holdings in shares of ON by 69.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company's stock worth $26,000 after acquiring an additional 312 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in ON in the 4th quarter valued at about $27,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in ON by 555.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company's stock valued at $33,000 after acquiring an additional 594 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ONON. UBS Group cut their price target on ON from $83.00 to $73.00 and set a "buy" rating for the company in a research note on Wednesday. Wall Street Zen lowered ON from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Williams Trading set a $32.00 target price on ON in a research report on Tuesday. Bank of America reiterated a "buy" rating on shares of ON in a report on Wednesday. Finally, Telsey Advisory Group dropped their price objective on ON from $51.00 to $43.00 and set an "outperform" rating on the stock in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $48.57.

ON Stock Performance

Shares of ONON opened at $31.10 on Thursday. On Holding AG has a 1 year low of $30.11 and a 1 year high of $51.08. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39. The stock's fifty day moving average price is $37.04 and its two-hundred day moving average price is $38.70. The firm has a market cap of $19.85 billion, a PE ratio of 21.16, a PEG ratio of 0.57 and a beta of 2.12.

ON (NYSE:ONON - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). ON had a return on equity of 23.94% and a net margin of 12.09%.The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company posted ($0.09) EPS. The firm's revenue was up 13.5% compared to the same quarter last year. On average, equities research analysts forecast that On Holding AG will post 1.51 EPS for the current year.

More ON News

Here are the key news stories impacting ON this week:

• Positive Sentiment: On reported 13.5% year-over-year revenue growth, while direct-to-consumer sales increased 26% and represented 45.7% of total sales. Gross margin expanded to 65.4%, and management raised its full-year gross-margin outlook to at least 65.0%. On Holding Q2 Earnings Miss Estimates, FY'26 Margin Outlook Raised
• Positive Sentiment: Several analysts continue to view ONON favorably after the selloff. Stifel Nicolaus, UBS Group and Telsey Advisory Group retained buy or outperform ratings, with revised targets of $41, $73 and $43, respectively. Robert W. Baird also maintained an outperform rating with a $55 target. The revised targets imply substantial upside, although they reflect significant reductions from prior forecasts.
• Positive Sentiment: Management continues to target approximately 20% full-year 2026 sales growth and expects revenue of roughly $4.4 billion to $4.5 billion, while international expansion and category growth remain longer-term catalysts.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.

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