American Century Companies Inc. Buys 365,907 Shares of On Holding AG $ONON

American Century Companies Inc. lifted its position in shares of On Holding AG (NYSE:ONON) by 9.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,058,475 shares of the company’s stock after purchasing an additional 365,907 shares during the period. American Century Companies Inc. owned 0.64% of ON worth $171,876,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Lido Advisors LLC grew its holdings in shares of ON by 1.2% during the 2nd quarter. Lido Advisors LLC now owns 23,754 shares of the company’s stock worth $1,236,000 after acquiring an additional 285 shares during the period. Parsons Capital Management Inc. RI boosted its position in shares of ON by 4.3% during the third quarter. Parsons Capital Management Inc. RI now owns 7,238 shares of the company’s stock valued at $307,000 after purchasing an additional 300 shares in the last quarter. Sterling Investment Counsel LLC grew its stake in ON by 6.5% in the third quarter. Sterling Investment Counsel LLC now owns 6,125 shares of the company’s stock worth $259,000 after purchasing an additional 375 shares during the period. First Horizon Advisors Inc. grew its stake in ON by 11.7% in the second quarter. First Horizon Advisors Inc. now owns 3,859 shares of the company’s stock worth $201,000 after purchasing an additional 405 shares during the period. Finally, Jones Financial Companies Lllp raised its holdings in ON by 1.9% in the third quarter. Jones Financial Companies Lllp now owns 21,960 shares of the company’s stock worth $933,000 after purchasing an additional 417 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of ON in a research report on Friday, December 5th. Needham & Company LLC restated a “buy” rating and issued a $52.00 price objective on shares of ON in a report on Thursday. Stifel Nicolaus set a $60.00 target price on shares of ON in a report on Wednesday, January 28th. UBS Group reissued a “buy” rating on shares of ON in a research report on Thursday, February 19th. Finally, Evercore reduced their price objective on ON from $68.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, November 10th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.86.

ON Trading Down 2.3%

ON stock opened at $46.50 on Monday. The business has a 50-day simple moving average of $46.41 and a two-hundred day simple moving average of $44.42. On Holding AG has a 52-week low of $34.38 and a 52-week high of $61.29. The company has a quick ratio of 2.05, a current ratio of 2.55 and a debt-to-equity ratio of 0.28. The company has a market cap of $29.20 billion, a P/E ratio of 60.39, a P/E/G ratio of 1.39 and a beta of 2.14.

About ON

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.