On Holding AG (NYSE:ONON) Stake Lessened by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC trimmed its stake in shares of On Holding AG (NYSE:ONON) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,700 shares of the company’s stock after selling 1,000 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in ON were worth $1,346,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ONON. Ameritas Advisory Services LLC raised its position in shares of ON by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock valued at $924,000 after acquiring an additional 300 shares in the last quarter. Artemis Investment Management LLP boosted its holdings in shares of ON by 1.9% in the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock valued at $637,000 after buying an additional 302 shares during the period. Crossmark Global Holdings Inc. raised its stake in ON by 3.2% during the second quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock worth $404,000 after acquiring an additional 325 shares during the period. Janney Capital Management LLC lifted its holdings in ON by 3.1% in the fourth quarter. Janney Capital Management LLC now owns 14,893 shares of the company’s stock worth $402,000 after acquiring an additional 443 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in ON by 24.0% in the second quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock valued at $98,000 after acquiring an additional 500 shares during the period. 33.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ONON has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Sanford C. Bernstein started coverage on shares of ON in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $50.00 price objective on the stock. TD Cowen upped their target price on shares of ON from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Hsbc Global Res upgraded shares of ON to a “hold” rating in a research note on Thursday. Finally, KeyCorp increased their price objective on ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.16.

ON Stock Up 0.5 %

NYSE:ONON traded up $0.21 during trading hours on Friday, reaching $44.99. 218,406 shares of the company’s stock were exchanged, compared to its average volume of 5,247,563. The company has a market capitalization of $28.33 billion, a P/E ratio of 101.75, a price-to-earnings-growth ratio of 1.30 and a beta of 2.24. On Holding AG has a 12 month low of $23.41 and a 12 month high of $48.08. The business’s 50-day simple moving average is $40.73 and its two-hundred day simple moving average is $37.41.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). The company had revenue of $627.66 million for the quarter, compared to the consensus estimate of $634.43 million. ON had a return on equity of 13.02% and a net margin of 7.42%. As a group, sell-side analysts anticipate that On Holding AG will post 0.83 earnings per share for the current fiscal year.

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.