US Bancorp DE Buys 11,914 Shares of On Holding AG (NYSE:ONON)

US Bancorp DE raised its stake in shares of On Holding AG (NYSE:ONON) by 207.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 17,649 shares of the company’s stock after purchasing an additional 11,914 shares during the quarter. US Bancorp DE’s holdings in ON were worth $885,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of ON during the 3rd quarter valued at about $79,000. Pinnacle Associates Ltd. boosted its position in shares of ON by 165.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 26,170 shares of the company’s stock valued at $1,312,000 after acquiring an additional 16,300 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of ON by 210.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. WD Rutherford LLC boosted its position in shares of ON by 62.0% during the 3rd quarter. WD Rutherford LLC now owns 6,071 shares of the company’s stock valued at $304,000 after acquiring an additional 2,323 shares in the last quarter. Finally, Strategic Blueprint LLC acquired a new stake in shares of ON during the 3rd quarter valued at about $294,000. Institutional investors own 33.11% of the company’s stock.

ON Stock Performance

NYSE ONON opened at $51.49 on Friday. The firm has a 50-day moving average of $48.85 and a 200-day moving average of $42.54. The stock has a market cap of $32.42 billion, a PE ratio of 97.15 and a beta of 2.25. On Holding AG has a 52-week low of $24.15 and a 52-week high of $52.80.

ON (NYSE:ONON) last issued its quarterly earnings data 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 return on equity of 13.02% and a net margin of 7.42%. The business had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. As a group, analysts predict that On Holding AG will post 0.75 EPS for the current fiscal year.

Analysts Set New Price Targets

ONON has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of ON from $51.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. TD Cowen boosted their price target on shares of ON from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Raymond James initiated coverage on shares of ON in a research report on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 price target on the stock. HSBC initiated coverage on shares of ON in a research report on Thursday, September 5th. They issued a “hold” rating and a $52.00 price target on the stock. Finally, Hsbc Global Res upgraded shares of ON to a “hold” rating in a research report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ON has a consensus rating of “Moderate Buy” and an average price target of $50.37.

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.