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

MUFG Securities EMEA plc bought a new position in shares of On Holding AG (NYSE:ONON) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,200,000 shares of the company’s stock, valued at approximately $55,776,000.

Other large investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of ON by 54.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company’s stock worth $8,320,000 after purchasing an additional 62,500 shares in the last quarter. Robinhood Asset Management LLC acquired a new stake in shares of ON during the 4th quarter worth $4,747,000. Sands Capital Management LLC grew its holdings in shares of ON by 46.7% during the 3rd quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock worth $286,685,000 after purchasing an additional 2,155,083 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of ON by 9.9% during the 3rd quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock worth $171,876,000 after purchasing an additional 365,907 shares in the last quarter. Finally, Fox Run Management L.L.C. grew its holdings in shares of ON by 95.7% during the 3rd quarter. Fox Run Management L.L.C. now owns 46,801 shares of the company’s stock worth $1,982,000 after purchasing an additional 22,883 shares in the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Price Performance

Shares of ONON stock opened at $40.76 on Friday. The company has a quick ratio of 2.39, a current ratio of 2.98 and a debt-to-equity ratio of 0.26. On Holding AG has a twelve month low of $31.41 and a twelve month high of $60.62. The company has a market cap of $26.01 billion, a P/E ratio of 43.83, a P/E/G ratio of 0.84 and a beta of 2.09. The business has a fifty day simple moving average of $36.08 and a 200 day simple moving average of $41.91.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.11. ON had a return on equity of 15.72% and a net margin of 7.92%.The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the company earned $0.21 EPS. ON’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, sell-side analysts forecast that On Holding AG will post 1.39 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on ONON. Truist Financial reduced their target price on ON from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Zacks Research downgraded ON from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 11th. Telsey Advisory Group dropped their price objective on ON from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Needham & Company LLC dropped their price objective on ON from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Finally, Stifel Nicolaus set a $58.00 price objective on ON in a research report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.05.

Insider Transactions at ON

In other news, CEO David Michael Allemann bought 60,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the transaction, the chief executive officer owned 2,841,108 shares of the company’s stock, valued at $104,069,786.04. This trade represents a 2.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Caspar Felix Coppetti bought 60,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $36.64 per share, with a total value of $2,198,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,375,855 shares of the company’s stock, valued at approximately $87,051,327.20. The trade was a 2.59% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 180,000 shares of company stock valued at $6,594,000 and have sold 20,750 shares valued at $745,838. 68.57% of the stock is currently owned by insiders.

ON Company Profile

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.