Jennison Associates LLC Sells 757,659 Shares of On Holding AG $ONON

Jennison Associates LLC lowered its holdings in On Holding AG (NYSE:ONON) by 15.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,090,779 shares of the company’s stock after selling 757,659 shares during the period. Jennison Associates LLC owned approximately 0.65% of ON worth $212,925,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Ramirez Asset Management Inc. raised its position in shares of ON by 20.0% in the second quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock valued at $62,000 after purchasing an additional 200 shares during the period. CWM LLC raised its position in shares of ON by 22.2% in the first quarter. CWM LLC now owns 1,259 shares of the company’s stock valued at $55,000 after purchasing an additional 229 shares during the period. Asset Management One Co. Ltd. raised its position in shares of ON by 1.0% in the second quarter. Asset Management One Co. Ltd. now owns 24,939 shares of the company’s stock valued at $1,298,000 after purchasing an additional 243 shares during the period. Sterling Investment Counsel LLC raised its position in shares of ON by 5.5% in the second quarter. Sterling Investment Counsel LLC now owns 5,750 shares of the company’s stock valued at $299,000 after purchasing an additional 300 shares during the period. Finally, TCTC Holdings LLC raised its position in shares of ON by 118.4% in the first quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock valued at $26,000 after purchasing an additional 315 shares during the period. Institutional investors own 36.39% of the company’s stock.

ON Price Performance

ONON stock opened at $41.12 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The stock has a market cap of $25.89 billion, a PE ratio of 91.39, a P/E/G ratio of 5.24 and a beta of 2.19. The firm has a 50 day simple moving average of $43.61 and a two-hundred day simple moving average of $48.73.

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.35). ON had a return on equity of 8.75% and a net margin of 4.45%.The company had revenue of $944.29 million during the quarter, compared to analysts’ expectations of $707.74 million. During the same period in the prior year, the firm earned $0.14 EPS. ON’s quarterly revenue was up 32.0% on a year-over-year basis. ON has set its FY 2025 guidance at EPS. On average, analysts predict that On Holding AG will post 0.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ONON. Citigroup cut shares of ON from a “buy” rating to a “mixed” rating in a research note on Tuesday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $65.00 price objective on shares of ON in a research note on Thursday, August 7th. Barclays boosted their price objective on shares of ON from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Raymond James Financial reduced their price objective on shares of ON from $66.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, October 21st. Finally, Jefferies Financial Group set a $40.00 price objective on shares of ON and gave the company an “underperform” rating in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.75.

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.