Hsbc Holdings PLC Sells 13,462 Shares of On Holding AG (NYSE:ONON)

Hsbc Holdings PLC reduced its position in On Holding AG (NYSE:ONON) by 36.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 23,872 shares of the company’s stock after selling 13,462 shares during the period. Hsbc Holdings PLC’s holdings in ON were worth $648,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of ON by 4.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,708,416 shares of the company’s stock worth $46,076,000 after buying an additional 76,746 shares during the period. Liontrust Investment Partners LLP lifted its holdings in ON by 204.7% during the 3rd quarter. Liontrust Investment Partners LLP now owns 517,942 shares of the company’s stock worth $14,410,000 after purchasing an additional 347,942 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in ON by 127.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 131,585 shares of the company’s stock valued at $3,549,000 after purchasing an additional 73,839 shares during the period. Jennison Associates LLC increased its position in ON by 7.6% during the 3rd quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock worth $219,416,000 after buying an additional 554,513 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. lifted its holdings in shares of ON by 10.3% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 292,338 shares of the company’s stock worth $8,133,000 after buying an additional 27,206 shares in the last quarter. Institutional investors own 33.11% of the company’s stock.

ON Price Performance

ONON stock traded up $0.53 during trading on Friday, reaching $33.27. 2,391,279 shares of the company were exchanged, compared to its average volume of 3,380,708. On Holding AG has a twelve month low of $23.41 and a twelve month high of $37.08. The company has a market capitalization of $20.95 billion, a price-to-earnings ratio of 123.22, a P/E/G ratio of 1.15 and a beta of 2.17. The company has a 50-day moving average of $33.23 and a two-hundred day moving average of $29.89.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on ONON shares. Telsey Advisory Group reaffirmed an “outperform” rating and set a $37.00 price target on shares of ON in a research report on Wednesday, April 24th. Evercore ISI dropped their price target on shares of ON from $40.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, March 13th. Morgan Stanley reiterated an “overweight” rating and issued a $32.00 price target on shares of ON in a research note on Monday, April 22nd. Barclays assumed coverage on ON in a report on Monday, April 1st. They issued an “overweight” rating and a $38.00 price objective for the company. Finally, Stifel Nicolaus restated a “buy” rating and issued a $40.00 price target on shares of ON in a research report on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.33.

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.