Tsfg LLC Purchases New Shares in On Holding AG (NYSE:ONON)

Tsfg LLC acquired a new position in On Holding AG (NYSE:ONON) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,370 shares of the company’s stock, valued at approximately $69,000.

Several other hedge funds have also modified their holdings of the company. Rheos Capital Works Inc. acquired a new stake in ON in the 1st quarter valued at $10,614,000. Blair William & Co. IL acquired a new stake in shares of ON in the first quarter valued at about $502,000. Janney Montgomery Scott LLC increased its stake in shares of ON by 1,011.8% during the first quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company’s stock worth $3,686,000 after purchasing an additional 94,814 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of ON during the 1st quarter worth about $8,094,000. Finally, Wellington Management Group LLP purchased a new position in ON in the 4th quarter valued at about $34,420,000. 33.11% of the stock is owned by hedge funds and other institutional investors.

ON Price Performance

Shares of ONON opened at $49.13 on Thursday. The firm has a 50-day simple moving average of $46.80 and a two-hundred day simple moving average of $40.60. The stock has a market cap of $30.93 billion, a PE ratio of 111.66 and a beta of 2.24. On Holding AG has a 1-year low of $24.15 and a 1-year high of $52.80.

ON (NYSE:ONON) last posted its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a net margin of 7.42% and a return on equity of 13.02%. The company had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. As a group, sell-side analysts expect that On Holding AG will post 0.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Hsbc Global Res raised ON to a “hold” rating in a report on Thursday, September 5th. HSBC began coverage on ON in a report on Thursday, September 5th. They issued a “hold” rating and a $52.00 price objective on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $47.00 target price on shares of ON in a report on Tuesday, August 13th. Morgan Stanley raised their price target on shares of ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Finally, KeyCorp upped their price objective on shares of ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.74.

ON Company Profile

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.