Bank of Montreal Can Sells 1,918 Shares of On Holding AG $ONON

Bank of Montreal Can lowered its stake in shares of On Holding AG (NYSE:ONON) by 2.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 88,930 shares of the company’s stock after selling 1,918 shares during the quarter. Bank of Montreal Can’s holdings in ON were worth $4,629,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its position in ON by 13.9% during the first quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock valued at $869,388,000 after purchasing an additional 2,416,534 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of ON by 136.6% in the 1st quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock worth $212,943,000 after purchasing an additional 2,798,794 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of ON by 1.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,395,611 shares of the company’s stock valued at $149,136,000 after purchasing an additional 34,120 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of ON by 8.3% during the 1st quarter. 1832 Asset Management L.P. now owns 2,344,700 shares of the company’s stock valued at $102,979,000 after buying an additional 178,750 shares in the last quarter. Finally, Nuveen LLC bought a new stake in ON in the 1st quarter worth approximately $102,850,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ONON. Jefferies Financial Group set a $40.00 price target on shares of ON and gave the company an “underperform” rating in a research report on Wednesday, August 13th. UBS Group upped their price objective on shares of ON from $75.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Needham & Company LLC reiterated a “buy” rating and issued a $62.00 target price on shares of ON in a research report on Tuesday, August 12th. The Goldman Sachs Group set a $50.00 price target on shares of ON in a research note on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ON in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.60.

ON Trading Up 0.6%

NYSE:ONON opened at $35.18 on Wednesday. The firm has a market capitalization of $22.15 billion, a P/E ratio of 78.19, a P/E/G ratio of 4.34 and a beta of 2.18. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average of $41.84 and a 200 day moving average of $48.30. On Holding AG has a 52 week low of $34.38 and a 52 week high of $64.05.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.35). The firm had revenue of $944.29 million during the quarter, compared to analysts’ expectations of $707.74 million. ON had a net margin of 4.45% and a return on equity of 8.75%. ON’s revenue was up 32.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 EPS. On average, research analysts predict that On Holding AG will post 0.66 earnings per share for the current year.

ON Company 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.