Whittier Trust Co. of Nevada Inc. Acquires 53,537 Shares of On Holding AG $ONON

Key Points

• Whittier Trust Co. of Nevada Inc. increased its holdings in On Holding AG by 430.6%, acquiring an additional 53,537 shares during the 2nd quarter, bringing its total to 65,971 shares valued at approximately $3.43 million.
• Several equities research analysts have recently given mixed ratings on ON stock, with target prices ranging from $40.00 to $65.00, indicating strong interest but varied expectations for the stock's performance.
• On Holding AG reported a net margin of 4.45% and a significant revenue increase of 32.0% year-over-year, despite reporting a loss of $0.11 EPS for the latest quarter.

Whittier Trust Co. of Nevada Inc. grew its holdings in On Holding AG (NYSE:ONON - Free Report) by 430.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 65,971 shares of the company's stock after purchasing an additional 53,537 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in ON were worth $3,433,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ONON. Bison Wealth LLC boosted its holdings in shares of ON by 35.7% during the 4th quarter. Bison Wealth LLC now owns 9,291 shares of the company's stock valued at $509,000 after acquiring an additional 2,442 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of ON by 241.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 63,930 shares of the company's stock valued at $2,808,000 after acquiring an additional 45,223 shares in the last quarter. APEIRON CAPITAL Ltd boosted its holdings in shares of ON by 35.9% during the 1st quarter. APEIRON CAPITAL Ltd now owns 999,125 shares of the company's stock valued at $43,882,000 after acquiring an additional 264,000 shares in the last quarter. Harbour Capital Advisors LLC acquired a new stake in shares of ON during the 1st quarter valued at $237,000. Finally, Aurora Private Wealth Inc. acquired a new stake in shares of ON during the 1st quarter valued at $591,000. Institutional investors own 36.39% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings reissued a "sell (d+)" rating on shares of ON in a report on Wednesday, October 8th. TD Cowen cut their target price on ON from $63.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, October 14th. Jefferies Financial Group set a $40.00 target price on ON and gave the stock an "underperform" rating in a report on Wednesday, August 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $62.00 target price on shares of ON in a report on Tuesday, August 12th. Finally, Morgan Stanley lifted their target price on ON from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $63.10.

ON Stock Up 3.5%

Shares of ON stock opened at $42.94 on Wednesday. The stock's 50-day moving average is $43.96 and its 200 day moving average is $48.67. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The firm has a market cap of $27.04 billion, a price-to-earnings ratio of 95.43, a PEG ratio of 5.15 and a beta of 2.19. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00.

ON (NYSE:ONON - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.35). The business had revenue of $944.29 million during the quarter, compared to analyst estimates of $707.74 million. ON had a net margin of 4.45% and a return on equity of 8.75%. ON's quarterly revenue was up 32.0% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. ON has set its FY 2025 guidance at EPS. Equities research analysts anticipate that On Holding AG will post 0.66 EPS for the current year.

ON Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.

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