On Holding AG (NYSE:ONON) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. trimmed its holdings in On Holding AG (NYSE:ONON) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,778 shares of the company’s stock after selling 1,572 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in ON were worth $803,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ONON. Janney Capital Management LLC increased its position in ON by 2.7% during the third quarter. Janney Capital Management LLC now owns 14,450 shares of the company’s stock worth $402,000 after purchasing an additional 384 shares during the last quarter. Pittenger & Anderson Inc. increased its position in ON by 34.8% during the third quarter. Pittenger & Anderson Inc. now owns 1,550 shares of the company’s stock worth $43,000 after purchasing an additional 400 shares during the last quarter. Belpointe Asset Management LLC increased its position in ON by 75.3% during the first quarter. Belpointe Asset Management LLC now owns 1,057 shares of the company’s stock worth $33,000 after purchasing an additional 454 shares during the last quarter. Spire Wealth Management increased its position in ON by 91.0% during the third quarter. Spire Wealth Management now owns 972 shares of the company’s stock worth $27,000 after purchasing an additional 463 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in ON by 63.7% during the third quarter. PNC Financial Services Group Inc. now owns 1,521 shares of the company’s stock worth $42,000 after purchasing an additional 592 shares during the last quarter. 33.11% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Performance

NYSE ONON opened at $32.56 on Wednesday. The firm has a 50 day simple moving average of $32.84 and a 200-day simple moving average of $29.25. On Holding AG has a one year low of $23.41 and a one year high of $37.08. The firm has a market cap of $20.50 billion, a price-to-earnings ratio of 120.57, a PEG ratio of 1.28 and a beta of 2.16.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). ON had a return on equity of 6.85% and a net margin of 4.04%. The firm had revenue of $504.69 million during the quarter, compared to analysts’ expectations of $515.30 million. Equities analysts predict that On Holding AG will post 0.67 EPS for the current fiscal year.

Analysts Set New Price Targets

ONON has been the subject of several recent analyst reports. Evercore ISI cut their price objective on shares of ON from $40.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, March 13th. TheStreet lowered shares of ON from a “c” rating to a “d+” rating in a research note on Monday, March 18th. Morgan Stanley reaffirmed an “overweight” rating and set a $32.00 target price on shares of ON in a research note on Thursday, April 11th. Truist Financial increased their target price on shares of ON from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, March 13th. Finally, Barclays began coverage on shares of ON in a research note on Monday, April 1st. They set an “overweight” rating and a $38.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.13.

About ON

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.