Hodges Capital Management Inc. Purchases 30,864 Shares of On Holding AG $ONON

Hodges Capital Management Inc. boosted its position in On Holding AG (NYSE:ONON) by 9.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 369,250 shares of the company’s stock after purchasing an additional 30,864 shares during the period. ON makes up approximately 1.5% of Hodges Capital Management Inc.’s investment portfolio, making the stock its 16th biggest holding. Hodges Capital Management Inc.’s holdings in ON were worth $17,163,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. lifted its stake in ON by 639.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after purchasing an additional 467 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in ON in the fourth quarter worth about $27,000. TD Private Client Wealth LLC lifted its stake in ON by 109.9% in the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after purchasing an additional 421 shares during the last quarter. Bogart Wealth LLC lifted its stake in ON by 88.9% in the fourth quarter. Bogart Wealth LLC now owns 850 shares of the company’s stock worth $40,000 after purchasing an additional 400 shares during the last quarter. Finally, United Financial Planning Group LLC bought a new stake in ON in the third quarter worth about $42,000. Institutional investors own 36.39% of the company’s stock.

Wall Street Analysts Forecast Growth

ONON has been the topic of a number of research reports. Zacks Research lowered shares of ON from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 11th. Raymond James Financial raised shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 target price on the stock in a research report on Thursday, April 23rd. Evercore set a $42.00 target price on shares of ON in a research report on Tuesday, May 12th. KeyCorp reduced their target price on shares of ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Finally, Barclays reduced their target price on shares of ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, ON has a consensus rating of “Moderate Buy” and a consensus price target of $55.05.

ON Stock Performance

Shares of NYSE:ONON opened at $38.09 on Thursday. The firm has a market cap of $24.31 billion, a PE ratio of 40.96, a price-to-earnings-growth ratio of 0.74 and a beta of 2.10. The firm’s 50 day simple moving average is $36.40 and its 200-day simple moving average is $41.77. On Holding AG has a one year low of $31.41 and a one year high of $58.08. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98.

ON (NYSE:ONON) last issued its earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company posted $0.21 earnings per share. As a group, equities analysts predict that On Holding AG will post 1.47 EPS for the current year.

Insider Buying and Selling at ON

In related news, CEO Martin Hoffmann sold 4,150 shares of ON stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $35.84, for a total transaction of $148,736.00. Following the transaction, the chief executive officer directly owned 1,385,099 shares of the company’s stock, valued at $49,641,948.16. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Olivier Bernhard acquired 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the acquisition, the insider owned 5,163,184 shares of the company’s stock, valued at $189,127,429.92. This trade represents a 1.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 180,000 shares of company stock valued at $6,594,000 and sold 20,750 shares valued at $745,838. 68.57% of the stock is owned by company insiders.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.