MUFG Securities EMEA plc Invests $55.78 Million in On Holding AG $ONON

Key Points

• MUFG Securities EMEA plc opened a new position in On Holding AG during the fourth quarter, buying 1.2 million shares valued at about $55.8 million. The stake represented roughly 0.19% of the company.
• On Holding’s latest quarterly results topped expectations, with EPS of $0.46 versus the $0.35 consensus and revenue of $1.04 billion, up 14.5% year over year. Analysts now expect the company to earn about $1.39 per share for the full year.
• Sentiment remains mixed but generally positive: insiders have been active with one CEO selling shares and another buying 60,000 shares, while analysts maintain a Moderate Buy consensus and an average price target of $55.05.

MUFG Securities EMEA plc acquired a new position in shares of On Holding AG (NYSE:ONON - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,200,000 shares of the company's stock, valued at approximately $55,776,000. MUFG Securities EMEA plc owned approximately 0.19% of ON as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ONON. Bison Wealth LLC raised its stake in shares of ON by 35.7% during the 4th quarter. Bison Wealth LLC now owns 9,291 shares of the company's stock worth $509,000 after purchasing an additional 2,442 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of ON during the 2nd quarter worth approximately $517,000. Invesco Ltd. raised its stake in shares of ON by 305.5% during the 2nd quarter. Invesco Ltd. now owns 157,281 shares of the company's stock worth $8,186,000 after purchasing an additional 118,498 shares in the last quarter. Cresset Asset Management LLC increased its holdings in shares of ON by 13.5% during the 2nd quarter. Cresset Asset Management LLC now owns 7,232 shares of the company's stock worth $376,000 after acquiring an additional 860 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of ON by 91.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,661 shares of the company's stock worth $139,000 after acquiring an additional 1,273 shares during the last quarter. Institutional investors own 36.39% of the company's stock.

ON Stock Performance

Shares of NYSE ONON opened at $40.76 on Friday. 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 $36.08 and its two-hundred day moving average price is $41.91. On Holding AG has a one year low of $31.41 and a one year high of $60.62. The firm has a market cap of $26.01 billion, a price-to-earnings ratio of 43.83, a P/E/G ratio of 0.84 and a beta of 2.09.

ON (NYSE:ONON - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.11. ON had a return on equity of 15.72% and a net margin of 7.92%.The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the firm posted $0.21 EPS. The company's revenue for the quarter was up 14.5% on a year-over-year basis. On average, equities analysts forecast that On Holding AG will post 1.39 EPS for the current year.

Insider Transactions at ON

In other ON news, CEO Martin Hoffmann sold 4,150 shares of the company's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $35.84, for a total value of $148,736.00. Following the transaction, the chief executive officer directly owned 1,385,099 shares of the company's stock, valued at $49,641,948.16. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Caspar Felix Coppetti acquired 60,000 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $36.64 per share, for a total transaction of $2,198,400.00. Following the completion of the acquisition, the chief executive officer owned 2,375,855 shares in the company, valued at approximately $87,051,327.20. This represents a 2.59% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 180,000 shares of company stock valued at $6,594,000 and sold 20,750 shares valued at $745,838. 68.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Weiss Ratings raised ON from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, May 12th. Guggenheim reissued a "buy" rating and set a $51.00 target price on shares of ON in a report on Wednesday, May 13th. Sanford C. Bernstein reissued an "outperform" rating on shares of ON in a report on Wednesday, March 4th. Barclays decreased their target price on ON from $57.00 to $46.00 and set an "overweight" rating on the stock in a report on Wednesday, May 13th. Finally, Evercore set a $42.00 target price on ON in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ON presently has a consensus rating of "Moderate Buy" and an average target price of $55.05.

About ON

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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