On Holding AG (NYSE:ONON) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its holdings in On Holding AG (NYSE:ONON) by 205.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 325,731 shares of the company’s stock after acquiring an additional 219,091 shares during the period. Russell Investments Group Ltd. owned about 0.05% of ON worth $8,785,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. lifted its holdings in ON by 39.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,894 shares of the company’s stock valued at $359,000 after acquiring an additional 3,676 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of ON by 84.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 31,350 shares of the company’s stock valued at $872,000 after purchasing an additional 14,320 shares during the period. Bank of New York Mellon Corp purchased a new stake in ON during the third quarter worth $8,063,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in ON by 55.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,583 shares of the company’s stock valued at $740,000 after buying an additional 9,444 shares during the period. Finally, Park Avenue Securities LLC acquired a new position in shares of ON in the third quarter worth about $262,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ONON shares. TD Cowen lifted their price target on ON from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. TheStreet cut shares of ON from a “c” rating to a “d+” rating in a research note on Monday, March 18th. Piper Sandler upped their price objective on shares of ON from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Redburn Atlantic reaffirmed a “neutral” rating and set a $34.00 price objective on shares of ON in a report on Thursday, March 7th. Finally, Truist Financial boosted their target price on shares of ON from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, March 13th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.53.

ON Stock Performance

ONON stock opened at $34.05 on Tuesday. The firm has a market cap of $21.44 billion, a PE ratio of 126.11, a PEG ratio of 1.16 and a beta of 2.17. On Holding AG has a one year low of $23.41 and a one year high of $37.08. The firm’s 50 day moving average price is $33.26 and its 200-day moving average price is $29.99.

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). The business had revenue of $504.69 million for the quarter, compared to analysts’ expectations 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 EPS for the current fiscal year.

ON 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.