On Holding AG (NYSE:ONON) Stock Position Lifted by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its position in shares of On Holding AG (NYSE:ONON) by 205.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 325,731 shares of the company’s stock after buying an additional 219,091 shares during the period. Russell Investments Group Ltd.’s holdings in ON were worth $8,785,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in shares of ON by 109.3% in the 3rd quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock worth $182,688,000 after purchasing an additional 3,428,794 shares during the last quarter. Bamco Inc. NY lifted its holdings in shares of ON by 243.0% in the 3rd quarter. Bamco Inc. NY now owns 3,028,002 shares of the company’s stock worth $84,239,000 after purchasing an additional 2,145,318 shares during the last quarter. Jericho Capital Asset Management L.P. bought a new stake in shares of ON in the 3rd quarter worth approximately $59,539,000. Rokos Capital Management LLP lifted its holdings in shares of ON by 642.3% in the 3rd quarter. Rokos Capital Management LLP now owns 2,075,457 shares of the company’s stock worth $58,268,000 after purchasing an additional 1,795,849 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of ON in the 3rd quarter worth approximately $18,126,000. Institutional investors own 33.11% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Barclays assumed coverage on ON in a report on Monday, April 1st. They issued an “overweight” rating and a $38.00 price target on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $37.00 target price on shares of ON in a research report on Wednesday, April 24th. Truist Financial raised their target price on ON from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, March 13th. TD Cowen raised their target price on ON from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Redburn Atlantic restated a “neutral” rating and issued a $34.00 target price on shares of ON in a research report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, ON currently has an average rating of “Moderate Buy” and a consensus target price of $37.53.

ON Stock Performance

Shares of ONON stock opened at $34.05 on Tuesday. The stock has a market cap of $21.44 billion, a PE ratio of 126.11, a price-to-earnings-growth ratio of 1.16 and a beta of 2.17. The business’s fifty day moving average is $33.26 and its 200-day moving average is $29.99. On Holding AG has a 1 year low of $23.41 and a 1 year high of $37.08.

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

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.