On Holding AG $ONON Stock Sold by Villere ST Denis J & Co. LLC

Key Points

• Villere ST Denis J & Co. cut its On Holding stake by 6.3%, selling 36,558 shares; it retained 546,678 shares valued at about $16.2 million.
• Analysts maintain a Moderate Buy consensus, with an average price target of $43.73; 25 analysts rate the stock Buy or Strong Buy.
• On missed quarterly earnings and revenue expectations, reporting EPS of $0.35 versus $0.42 expected and revenue of $1.05 billion versus $1.09 billion expected. Two company insiders each purchased 65,000 shares at an average price of $30.67.

Villere ST Denis J & Co. LLC lessened its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 546,678 shares of the company's stock after selling 36,558 shares during the quarter. ON comprises about 1.7% of Villere ST Denis J & Co. LLC's holdings, making the stock its 26th biggest holding. Villere ST Denis J & Co. LLC owned 0.09% of ON worth $16,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ONON. EverSource Wealth Advisors LLC raised its stake in ON by 69.6% during 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 in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in ON by 5,181.2% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 845 shares of the company's stock valued at $25,000 after acquiring an additional 829 shares in the last quarter. Ascentis Independent Advisors purchased a new position in shares of ON during the first quarter worth about $34,000. Guardian Partners Inc. purchased a new position in shares of ON during the third quarter worth about $41,000. Finally, Signaturefd LLC increased its position in shares of ON by 29.5% during the third quarter. Signaturefd LLC now owns 1,598 shares of the company's stock worth $47,000 after purchasing an additional 364 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. The Goldman Sachs Group reissued a "buy" rating on shares of ON in a report on Tuesday, September 22nd. Truist Financial dropped their price target on ON from $48.00 to $40.00 and set a "buy" rating on the stock in a research note on Tuesday, August 11th. Capital One Financial set a $28.00 price target on ON in a research report on Tuesday, September 8th. Morgan Stanley assumed coverage on ON in a research note on Thursday, September 10th. They issued an "overweight" rating and a $39.00 price objective for the company. Finally, Telsey Advisory Group reduced their price objective on ON from $51.00 to $43.00 and set an "outperform" rating for the company in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, ON has a consensus rating of "Moderate Buy" and an average target price of $43.73.

ON Trading Up 0.1%

NYSE ONON opened at $37.38 on Tuesday. On Holding AG has a one year low of $26.36 and a one year high of $51.08. The firm has a market cap of $23.86 billion, a PE ratio of 25.43, a P/E/G ratio of 0.76 and a beta of 2.05. The firm's fifty day moving average is $31.67 and its two-hundred day moving average is $36.47. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.25 and a current ratio of 2.83.

ON (NYSE:ONON - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.07). The company had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%. The business's quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.09) EPS. Analysts expect that On Holding AG will post 1.50 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Olivier Bernhard bought 65,000 shares of the company's stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the acquisition, the insider owned 5,228,184 shares in the company, valued at approximately $160,348,403.28. This trade represents a 1.26% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Caspar Coppetti purchased 65,000 shares of the business's stock in a transaction dated Friday, August 14th. The shares were bought at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the purchase, the chief executive officer directly owned 2,440,855 shares of the company's stock, valued at approximately $74,861,022.85. The trade was a 2.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

ON Profile

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