WD Rutherford LLC Acquires Shares of 1,470 On Holding AG (NYSE:ONON)

WD Rutherford LLC acquired a new stake in On Holding AG (NYSE:ONON) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,470 shares of the company’s stock, valued at approximately $52,000.

A number of other large investors also recently made changes to their positions in the company. American Century Companies Inc. increased its holdings in ON by 109.3% during the third quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock worth $182,688,000 after buying an additional 3,428,794 shares during the last quarter. Norges Bank purchased a new position in shares of ON in the fourth quarter worth about $57,916,000. Jericho Capital Asset Management L.P. purchased a new position in shares of ON in the third quarter worth about $59,539,000. Rokos Capital Management LLP grew its stake in ON by 642.3% during the third quarter. Rokos Capital Management LLP now owns 2,075,457 shares of the company’s stock valued at $58,268,000 after acquiring an additional 1,795,849 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in ON during the fourth quarter valued at approximately $34,420,000. 33.11% of the stock is owned by institutional investors.

ON Stock Performance

ONON traded down $0.23 during trading on Friday, reaching $38.80. 7,246,963 shares of the company traded hands, compared to its average volume of 4,472,952. On Holding AG has a 12-month low of $23.41 and a 12-month high of $44.30. The firm has a fifty day simple moving average of $37.82 and a 200 day simple moving average of $33.17. The company has a market cap of $24.43 billion, a P/E ratio of 88.18, a PEG ratio of 1.15 and a beta of 2.27.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, May 14th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.20. ON had a net margin of 6.46% and a return on equity of 11.13%. The business had revenue of $581.41 million for the quarter, compared to analysts’ expectations of $555.52 million. As a group, sell-side analysts expect that On Holding AG will post 0.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ONON. TheStreet lowered shares of ON from a “c” rating to a “d+” rating in a research report on Monday, March 18th. TD Cowen lifted their target price on shares of ON from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. William Blair assumed coverage on shares of ON in a report on Tuesday, April 16th. They issued an “outperform” rating for the company. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $41.00 target price on shares of ON in a research note on Thursday, May 16th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

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.