On Holding AG (NYSE:ONON) Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp raised its holdings in On Holding AG (NYSE:ONON) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,021 shares of the company’s stock after buying an additional 405 shares during the period. King Luther Capital Management Corp’s holdings in ON were worth $2,174,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ONON. Principal Financial Group Inc. grew its stake in ON by 5.4% during the 4th quarter. Principal Financial Group Inc. now owns 430,830 shares of the company’s stock worth $11,619,000 after purchasing an additional 21,889 shares in the last quarter. Norges Bank acquired a new stake in ON in the fourth quarter valued at approximately $57,916,000. AXS Investments LLC purchased a new position in ON in the fourth quarter worth approximately $485,000. Artisan Partners Limited Partnership acquired a new stake in shares of ON in the 4th quarter valued at $7,398,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of ON by 805.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,570 shares of the company’s stock valued at $663,000 after purchasing an additional 21,855 shares in the last quarter. Institutional investors and hedge funds own 33.11% of the company’s stock.

ON Stock Performance

Shares of ON stock opened at $49.95 on Friday. The company has a market cap of $31.45 billion, a P/E ratio of 113.53, a PEG ratio of 1.39 and a beta of 2.24. The firm has a fifty day moving average of $43.07 and a two-hundred day moving average of $38.58. On Holding AG has a one year low of $23.41 and a one year high of $52.16.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The firm had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. As a group, equities analysts predict that On Holding AG will post 0.82 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on ONON shares. HSBC began coverage on ON in a research note on Thursday, September 5th. They issued a “hold” rating and a $52.00 price target on the stock. TD Cowen increased their price target on shares of ON from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. The Goldman Sachs Group raised their price objective on shares of ON from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Morgan Stanley upped their target price on shares of ON from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, Barclays lifted their price target on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.89.

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.