Whittier Trust Co. Raises Holdings in On Holding AG $ONON

Whittier Trust Co. increased its holdings in On Holding AG (NYSE:ONON) by 154.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 116,599 shares of the company’s stock after acquiring an additional 70,840 shares during the period. Whittier Trust Co.’s holdings in ON were worth $6,068,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ONON. Jennison Associates LLC grew its position in ON by 136.6% in the first quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock worth $212,943,000 after acquiring an additional 2,798,794 shares during the period. Alliancebernstein L.P. grew its position in ON by 13.9% in the first quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock worth $869,388,000 after acquiring an additional 2,416,534 shares during the period. Nuveen LLC purchased a new position in ON in the first quarter worth approximately $102,850,000. Robeco Institutional Asset Management B.V. purchased a new position in ON in the second quarter worth approximately $41,208,000. Finally, Aberdeen Group plc purchased a new position in ON in the second quarter worth approximately $39,395,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ONON shares. Zacks Research lowered ON from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. TD Cowen lowered their price target on ON from $63.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Morgan Stanley raised their price target on ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Jefferies Financial Group set a $40.00 price target on ON and gave the stock an “underperform” rating in a research report on Wednesday, August 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $62.00 price target on shares of ON in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.10.

ON Trading Up 3.5%

NYSE:ONON opened at $42.94 on Wednesday. The firm has a market cap of $27.04 billion, a PE ratio of 95.43, a price-to-earnings-growth ratio of 5.15 and a beta of 2.19. The stock has a fifty day moving average price of $43.96 and a 200 day moving average price of $48.67. On Holding AG has a 12-month low of $34.59 and a 12-month high of $64.05. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31.

ON (NYSE:ONON) last released its earnings results 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 company 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%. The company’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same quarter last year, the business posted $0.14 earnings per share. ON has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that On Holding AG will post 0.66 earnings per share for the current fiscal year.

About ON

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.