Hsbc Holdings PLC Has $1.40 Million Holdings in On Holding AG $ONON

Hsbc Holdings PLC cut its holdings in shares of On Holding AG (NYSE:ONON) by 94.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,013 shares of the company’s stock after selling 468,574 shares during the period. Hsbc Holdings PLC’s holdings in ON were worth $1,396,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bison Wealth LLC increased its stake in shares of ON by 35.7% in the fourth quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock valued at $509,000 after buying an additional 2,442 shares in the last quarter. Prudential Financial Inc. acquired a new position in ON during the 2nd quarter worth about $517,000. Invesco Ltd. lifted its position in 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 buying an additional 118,498 shares in the last quarter. Cresset Asset Management LLC grew its holdings in 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 acquiring an additional 860 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in 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 acquiring an additional 1,273 shares during the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Trading Up 0.2%

NYSE:ONON opened at $35.47 on Wednesday. On Holding AG has a 1-year low of $31.41 and a 1-year high of $55.95. The business’s 50-day moving average price is $37.25 and its two-hundred day moving average price is $41.02. 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 market capitalization of $22.64 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 0.67 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 (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.11. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. ON had a return on equity of 15.72% and a net margin of 7.92%.The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 EPS. On average, equities analysts expect that On Holding AG will post 1.5 earnings per share for the current year.

Insider Activity

In other ON news, CEO Martin Hoffmann sold 4,150 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $35.84, for a total value of $148,736.00. Following the completion of the sale, the chief executive officer owned 1,385,099 shares of the company’s stock, valued at approximately $49,641,948.16. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Olivier Bernhard bought 60,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the acquisition, the insider owned 5,163,184 shares of the company’s stock, valued at approximately $189,127,429.92. This trade represents a 1.18% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 180,000 shares of company stock worth $6,594,000 and sold 16,600 shares worth $580,710.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Truist Financial dropped their target price on shares of ON from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Sanford C. Bernstein reissued an “outperform” rating on shares of ON in a report on Wednesday, March 4th. Zacks Research cut shares of ON from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 11th. KeyCorp reduced their price objective on ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Finally, Evercore set a $42.00 price objective on ON in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.05.

ON Company 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.