Vanguard Capital Wealth Advisors Sells 7,300 Shares of On Holding AG (NYSE:ONON)

Vanguard Capital Wealth Advisors cut its holdings in shares of On Holding AG (NYSE:ONON) by 28.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,700 shares of the company’s stock after selling 7,300 shares during the period. Vanguard Capital Wealth Advisors’ holdings in ON were worth $726,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. William Blair Investment Management LLC bought a new stake in shares of ON during the 1st quarter worth $121,712,000. 1832 Asset Management L.P. boosted its stake in shares of ON by 36.2% in the 4th quarter. 1832 Asset Management L.P. now owns 3,160,000 shares of the company’s stock valued at $85,225,000 after purchasing an additional 840,600 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in ON by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,787,871 shares of the company’s stock valued at $98,636,000 after purchasing an additional 14,674 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of ON by 30.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,224,894 shares of the company’s stock worth $78,717,000 after buying an additional 516,478 shares during the last quarter. Finally, Norges Bank bought a new position in shares of ON in the 4th quarter valued at $57,916,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

ON Trading Up 2.6 %

ONON opened at $46.42 on Thursday. The company has a fifty day moving average price of $41.13 and a two-hundred day moving average price of $37.76. On Holding AG has a 1-year low of $23.41 and a 1-year high of $48.08. The company has a market cap of $29.23 billion, a P/E ratio of 105.50, a price-to-earnings-growth ratio of 1.23 and a beta of 2.24.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). The firm had revenue of $627.66 million during 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%. On average, research analysts forecast that On Holding AG will post 0.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on ONON. JPMorgan Chase & Co. increased their target price on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. Barclays boosted their target price on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. KeyCorp raised their price target on shares of ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Stifel Nicolaus increased their price objective on ON from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Hsbc Global Res raised ON to a “hold” rating in a research report on Thursday, September 5th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.16.

ON Company Profile

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.