Prentiss Smith & Co. Inc. Decreases Stock Holdings in On Holding AG (NYSE:ONON)

Prentiss Smith & Co. Inc. trimmed its stake in shares of On Holding AG (NYSE:ONON) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 143,958 shares of the company’s stock after selling 1,993 shares during the period. ON makes up 2.9% of Prentiss Smith & Co. Inc.’s investment portfolio, making the stock its 16th largest holding. Prentiss Smith & Co. Inc.’s holdings in ON were worth $3,883,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Spire Wealth Management raised its holdings in shares of ON by 91.0% during the third quarter. Spire Wealth Management now owns 972 shares of the company’s stock valued at $27,000 after purchasing an additional 463 shares during the last quarter. Asset Dedication LLC purchased a new stake in ON during the third quarter valued at approximately $35,000. Signaturefd LLC increased its holdings in ON by 816.7% during the third quarter. Signaturefd LLC now owns 1,375 shares of the company’s stock valued at $38,000 after buying an additional 1,225 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in ON by 63.7% during the third quarter. PNC Financial Services Group Inc. now owns 1,521 shares of the company’s stock valued at $42,000 after buying an additional 592 shares during the last quarter. Finally, Pittenger & Anderson Inc. increased its holdings in ON by 34.8% during the third quarter. Pittenger & Anderson Inc. now owns 1,550 shares of the company’s stock valued at $43,000 after buying an additional 400 shares during the last quarter. 33.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on ONON shares. Telsey Advisory Group reaffirmed an “outperform” rating and set a $37.00 target price on shares of ON in a report on Wednesday. Truist Financial upped their target price on shares of ON from $29.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, March 13th. Redburn Atlantic reiterated a “neutral” rating and issued a $34.00 price target on shares of ON in a research report on Thursday, March 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 price target on shares of ON in a research report on Tuesday, March 5th. Finally, TheStreet lowered shares of ON from a “c” rating to a “d+” rating in a research report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, ON currently has an average rating of “Moderate Buy” and a consensus target price of $37.13.

ON Trading Down 1.4 %

ONON traded down $0.44 during trading on Thursday, hitting $31.92. 1,758,440 shares of the company traded hands, compared to its average volume of 5,215,988. The company has a market cap of $20.10 billion, a PE ratio of 118.30, a P/E/G ratio of 1.14 and a beta of 2.16. The stock’s 50-day simple moving average is $33.18 and its two-hundred day simple moving average is $29.52. On Holding AG has a 1 year low of $23.41 and a 1 year high of $37.08.

ON (NYSE:ONON) last posted its earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.18). The company had revenue of $504.69 million for the quarter, compared to analysts’ expectations of $515.30 million. ON had a net margin of 4.04% and a return on equity of 6.85%. Equities analysts expect that On Holding AG will post 0.65 EPS for the current year.

About ON

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.