On Holding AG (NYSE:ONON) Shares Purchased by Artemis Investment Management LLP

Artemis Investment Management LLP raised its position in shares of On Holding AG (NYSE:ONON) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,410 shares of the company’s stock after purchasing an additional 302 shares during the quarter. Artemis Investment Management LLP’s holdings in ON were worth $637,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ONON. Allspring Global Investments Holdings LLC grew its holdings in ON by 4.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,708,416 shares of the company’s stock worth $46,076,000 after acquiring an additional 76,746 shares during the period. Rheos Capital Works Inc. acquired a new position in shares of ON in the 1st quarter worth approximately $10,614,000. Blair William & Co. IL bought a new stake in shares of ON in the 1st quarter worth approximately $502,000. Janney Montgomery Scott LLC lifted its stake in ON by 1,011.8% during the first quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company’s stock valued at $3,686,000 after purchasing an additional 94,814 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in ON during the first quarter worth approximately $8,094,000. 33.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ONON has been the topic of several research reports. Barclays upped their price target on ON from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Truist Financial reaffirmed a “buy” rating and set a $46.00 target price on shares of ON in a report on Tuesday, June 18th. UBS Group lifted their price target on ON from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. KeyCorp upped their price objective on shares of ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Needham & Company LLC raised their target price on shares of ON from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, ON currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.44.

ON Stock Down 0.1 %

Shares of ONON traded down $0.03 during midday trading on Monday, reaching $40.20. 4,063,787 shares of the stock were exchanged, compared to its average volume of 5,129,248. The company has a market cap of $25.31 billion, a price-to-earnings ratio of 91.43, a P/E/G ratio of 1.18 and a beta of 2.22. The firm has a 50 day simple moving average of $39.66 and a 200-day simple moving average of $35.44. On Holding AG has a 12-month low of $23.41 and a 12-month high of $44.30.

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

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.