Villere ST Denis J & Co. LLC Has $30.62 Million Stock Position in On Holding AG $ONON

Key Points

• Villere ST Denis J & Co. LLC trimmed its On Holding (NYSE:ONON) stake by 5% to 658,807 shares, worth about $30.62 million, representing ~0.10% of ON and ~3.1% of Villere's portfolio (its 8th largest holding).
• CEO Martin Hoffmann sold 4,150 shares at an average price of $36.56 under a pre-arranged 10b5-1 plan; insiders have sold 16,600 shares (~$597,102) in the last 90 days while still owning roughly 68.57% of the company.
• Analysts rate ON as a “Moderate Buy” with a consensus price target of $58.62; the stock trades around $36.56, has a market cap of $23.33 billion and a PE ratio of 50.78.

Villere ST Denis J & Co. LLC decreased its holdings in On Holding AG (NYSE:ONON - Free Report) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 658,807 shares of the company's stock after selling 34,972 shares during the quarter. ON accounts for approximately 3.1% of Villere ST Denis J & Co. LLC's holdings, making the stock its 8th largest position. Villere ST Denis J & Co. LLC owned approximately 0.10% of ON worth $30,621,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ONON. Bison Wealth LLC grew its stake in shares of ON by 35.7% in the fourth 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. acquired a new position in shares of ON during the 2nd quarter valued at $517,000. Invesco Ltd. increased its position in shares of ON by 305.5% during the 2nd quarter. Invesco Ltd. now owns 157,281 shares of the company's stock valued at $8,186,000 after purchasing an additional 118,498 shares during the period. Cresset Asset Management LLC increased its position 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 valued at $376,000 after purchasing an additional 860 shares during the period. Finally, Daiwa Securities Group Inc. increased its position 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 valued at $139,000 after purchasing an additional 1,273 shares during the period. Institutional investors own 36.39% of the company's stock.

ON Stock Performance

Shares of ON stock opened at $36.56 on Thursday. The stock has a market cap of $23.33 billion, a PE ratio of 50.78, a price-to-earnings-growth ratio of 0.74 and a beta of 2.23. The business has a fifty day simple moving average of $39.48 and a 200-day simple moving average of $42.51. The company has a quick ratio of 2.13, a current ratio of 2.71 and a debt-to-equity ratio of 0.27. On Holding AG has a 12 month low of $31.41 and a 12 month high of $61.29.

Insider Activity at ON

In other news, CEO Martin Hoffmann sold 4,150 shares of the firm's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $36.56, for a total value of $151,724.00. Following the completion of the sale, the chief executive officer owned 1,389,249 shares of the company's stock, valued at $50,790,943.44. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,600 shares of company stock valued at $597,102 over the last ninety days. Company insiders own 68.57% of the company's stock.

Wall Street Analyst Weigh In

ONON has been the topic of several research analyst reports. Weiss Ratings reiterated a "sell (d+)" rating on shares of ON in a research report on Tuesday. Zacks Research cut ON from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 11th. Needham & Company LLC reissued a "buy" rating and set a $52.00 price objective on shares of ON in a research note on Thursday, February 26th. BTIG Research reissued a "buy" rating and set a $70.00 price objective on shares of ON in a research note on Tuesday, March 3rd. Finally, Evercore set a $45.00 price objective on ON and gave the stock an "outperform" rating in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, ON has an average rating of "Moderate Buy" and a consensus price target of $58.62.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.