Polen Capital Management LLC Lowers Holdings in On Holding AG $ONON

Polen Capital Management LLC reduced its stake in shares of On Holding AG (NYSE:ONON) by 24.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 194,483 shares of the company’s stock after selling 63,891 shares during the period. Polen Capital Management LLC’s holdings in ON were worth $9,040,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ONON. Bison Wealth LLC boosted its position in shares of ON by 35.7% during the 4th quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock worth $509,000 after purchasing an additional 2,442 shares in the last quarter. Prudential Financial Inc. purchased a new stake in shares of ON during the 2nd quarter worth $517,000. Invesco Ltd. boosted its position in shares of ON by 305.5% during the 2nd quarter. Invesco Ltd. now owns 157,281 shares of the company’s stock worth $8,186,000 after purchasing an additional 118,498 shares in the last quarter. Cresset Asset Management LLC boosted its position in shares of ON by 13.5% during the 2nd quarter. Cresset Asset Management LLC now owns 7,232 shares of the company’s stock worth $376,000 after purchasing an additional 860 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted 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 in the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on ONON. BTIG Research restated a “buy” rating and set a $70.00 target price on shares of ON in a research report on Tuesday, March 3rd. Barclays decreased their target price on shares of ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Evercore set a $42.00 target price on shares of ON in a research report on Tuesday, May 12th. UBS Group restated a “buy” rating on shares of ON in a research report on Thursday, February 19th. Finally, Telsey Advisory Group decreased their price objective on shares of ON from $60.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, ON has an average rating of “Moderate Buy” and an average target price of $55.05.

ON Stock Performance

NYSE:ONON opened at $39.18 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $36.50 and a two-hundred day moving average price of $41.75. On Holding AG has a twelve month low of $31.41 and a twelve month high of $56.81. The company has a market capitalization of $25.00 billion, a P/E ratio of 42.13, a price-to-earnings-growth ratio of 0.74 and a beta of 2.10.

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

Insider Buying and Selling at ON

In other news, CEO Caspar Felix Coppetti bought 60,000 shares of ON stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $36.64 per share, for a total transaction of $2,198,400.00. Following the acquisition, the chief executive officer owned 2,375,855 shares in the company, valued at approximately $87,051,327.20. This trade represents a 2.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Martin Hoffmann sold 4,150 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $35.84, for a total transaction of $148,736.00. Following the completion of the transaction, the chief executive officer owned 1,385,099 shares in the company, valued at approximately $49,641,948.16. This trade represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have bought 180,000 shares of company stock valued at $6,594,000 and have sold 20,750 shares valued at $745,838. 68.57% of the stock is owned by corporate insiders.

ON Profile

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.