Cetera Investment Advisers Sells 4,375 Shares of On Holding AG (NYSE:ONON)

Cetera Investment Advisers reduced its stake in shares of On Holding AG (NYSE:ONON) by 14.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,301 shares of the company’s stock after selling 4,375 shares during the quarter. Cetera Investment Advisers’ holdings in ON were worth $982,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Quarry LP acquired a new position in shares of ON in the 2nd quarter valued at approximately $32,000. WD Rutherford LLC acquired a new position in shares of ON in the 1st quarter valued at approximately $52,000. Asset Dedication LLC grew its position in shares of ON by 25.8% in the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after purchasing an additional 327 shares during the period. Orion Capital Management LLC boosted its position in ON by 106.7% during the 1st quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock worth $88,000 after acquiring an additional 1,280 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in ON by 24.0% during the 2nd quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock worth $98,000 after acquiring an additional 500 shares during the last quarter. 33.11% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Performance

ONON opened at $48.15 on Friday. On Holding AG has a one year low of $24.15 and a one year high of $52.80. The business’s 50 day moving average price is $47.22 and its 200 day moving average price is $40.71. The stock has a market capitalization of $30.32 billion, a PE ratio of 109.43 and a beta of 2.24.

ON (NYSE:ONON) last released its quarterly earnings data 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). ON had a net margin of 7.42% and a return on equity of 13.02%. The company had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. As a group, equities research analysts forecast that On Holding AG will post 0.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ONON shares. KeyCorp upped their price target on ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Morgan Stanley upped their price target on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Barclays upped their price objective on ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Piper Sandler upped their price objective on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Finally, Stifel Nicolaus upped their price objective on ON from $45.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, ON has a consensus rating of “Moderate Buy” and a consensus target price of $49.74.

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.