DE Burlo Group Inc. Decreases Stock Position in On Holding AG $ONON

DE Burlo Group Inc. trimmed its stake in shares of On Holding AG (NYSE:ONON) by 19.5% in the 4th quarter, HoldingsChannel reports. The firm owned 149,150 shares of the company’s stock after selling 36,050 shares during the period. DE Burlo Group Inc.’s holdings in ON were worth $6,932,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Bison Wealth LLC grew its position in shares of ON by 35.7% during the fourth quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock worth $509,000 after buying an additional 2,442 shares in the last quarter. Prudential Financial Inc. purchased a new stake in shares of ON in the 2nd quarter valued at approximately $517,000. Invesco Ltd. raised its holdings in shares of ON by 305.5% in the 2nd quarter. Invesco Ltd. now owns 157,281 shares of the company’s stock valued at $8,186,000 after purchasing an additional 118,498 shares in the last quarter. Cresset Asset Management LLC raised its holdings in shares of ON by 13.5% in the 2nd quarter. Cresset Asset Management LLC now owns 7,232 shares of the company’s stock valued at $376,000 after purchasing an additional 860 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of ON by 91.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,661 shares of the company’s stock worth $139,000 after purchasing an additional 1,273 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Stock Down 1.6%

ONON stock opened at $38.60 on Friday. On Holding AG has a 12 month low of $31.41 and a 12 month high of $55.95. The company has a market cap of $24.63 billion, a price-to-earnings ratio of 41.51, a price-to-earnings-growth ratio of 0.75 and a beta of 2.10. The company has a fifty day moving average price of $36.58 and a 200 day moving average price of $41.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39.

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. ON had a return on equity of 15.72% and a net margin of 7.92%.The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company posted $0.21 earnings per share. The business’s revenue was up 14.5% on a year-over-year basis. Sell-side analysts expect that On Holding AG will post 1.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ONON. BTIG Research reiterated a “buy” rating and set a $70.00 target price on shares of ON in a research note on Tuesday, March 3rd. Stifel Nicolaus set a $58.00 price target on ON in a report on Tuesday, March 3rd. Raymond James Financial raised ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a research report on Thursday, April 23rd. Barclays dropped their price target on shares of ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Finally, KeyCorp cut their price objective on shares of ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.05.

Insider Activity

In other news, insider Olivier Bernhard purchased 60,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the purchase, the insider directly owned 5,163,184 shares in the company, valued at $189,127,429.92. The trade was a 1.18% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Martin Hoffmann sold 4,150 shares of the stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $35.84, for a total transaction of $148,736.00. Following the transaction, the chief executive officer directly owned 1,385,099 shares of the company’s stock, valued at $49,641,948.16. This represents a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders acquired 180,000 shares of company stock worth $6,594,000 and sold 20,750 shares worth $745,838. Corporate insiders own 68.57% of the company’s stock.

About ON

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.