TD Waterhouse Canada Inc. Reduces Stake in On Holding AG $ONON

TD Waterhouse Canada Inc. cut its position in shares of On Holding AG (NYSE:ONON) by 62.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,163 shares of the company’s stock after selling 17,183 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in ON were worth $416,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Washington Trust Advisors Inc. purchased a new stake in shares of ON in the 2nd quarter worth about $29,000. GAMMA Investing LLC increased its holdings in ON by 5,888.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,078 shares of the company’s stock valued at $46,000 after acquiring an additional 1,060 shares in the last quarter. Ramirez Asset Management Inc. raised its position in ON by 20.0% during the second quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock worth $62,000 after acquiring an additional 200 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in ON during the second quarter worth about $83,000. Finally, CWM LLC lifted its holdings in shares of ON by 119.8% in the third quarter. CWM LLC now owns 2,789 shares of the company’s stock valued at $118,000 after purchasing an additional 1,520 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Price Performance

ONON stock opened at $44.07 on Wednesday. The stock has a market capitalization of $27.67 billion, a price-to-earnings ratio of 57.23, a price-to-earnings-growth ratio of 1.38 and a beta of 2.15. The company has a quick ratio of 2.05, a current ratio of 2.55 and a debt-to-equity ratio of 0.28. On Holding AG has a 52-week low of $34.38 and a 52-week high of $61.29. The stock’s fifty day simple moving average is $46.77 and its 200-day simple moving average is $44.80.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ONON. Morgan Stanley raised their price objective on shares of ON from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Williams Trading cut ON from a “buy” rating to a “hold” rating and lowered their target price for the company from $55.00 to $47.00 in a report on Thursday, January 8th. BTIG Research reissued a “buy” rating and set a $70.00 price target on shares of ON in a research report on Thursday, January 29th. Jefferies Financial Group restated an “underperform” rating and issued a $31.00 price objective on shares of ON in a research report on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ON in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.86.

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.