Bessemer Group Inc. Has $40.65 Million Stock Holdings in On Holding AG $ONON

Bessemer Group Inc. increased its holdings in shares of On Holding AG (NYSE:ONON) by 5.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,194,774 shares of the company’s stock after buying an additional 63,932 shares during the quarter. Bessemer Group Inc.’s holdings in ON were worth $40,647,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. boosted its position in ON by 639.7% during the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after acquiring an additional 467 shares during the period. Caitlin John LLC purchased a new position in ON during the 4th quarter valued at about $25,000. MidAtlantic Capital Management Inc. acquired a new position in shares of ON in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of ON by 555.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock valued at $33,000 after purchasing an additional 594 shares during the period. Finally, Ascentis Independent Advisors purchased a new stake in shares of ON in the first quarter worth approximately $34,000. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Trading Down 2.6%

NYSE:ONON opened at $37.22 on Friday. The company has a market capitalization of $23.75 billion, a P/E ratio of 40.02, a P/E/G ratio of 0.71 and a beta of 2.12. The stock’s 50 day moving average price is $37.57 and its 200 day moving average price is $40.09. 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 Holding AG has a 52 week low of $31.41 and a 52 week high of $54.37.

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.11. ON had a return on equity of 15.72% and a net margin of 7.92%.The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company posted $0.21 EPS. The firm’s revenue was up 14.5% on a year-over-year basis. On average, research analysts forecast that On Holding AG will post 1.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on ONON shares. Zacks Research upgraded shares of ON from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Wall Street Zen lowered shares of ON from a “buy” rating to a “hold” rating in a research note on Saturday. KeyCorp cut their target price on shares of ON from $58.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Barclays decreased their target price on shares of ON from $57.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Finally, Needham & Company LLC lowered their price target on shares of ON from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.79.

Insiders Place Their Bets

In related news, insider Olivier Bernhard bought 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the transaction, the insider owned 5,163,184 shares of the company’s stock, valued at $189,127,429.92. The trade was a 1.18% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Caspar Felix Coppetti acquired 60,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average price of $36.64 per share, for a total transaction of $2,198,400.00. Following the acquisition, the chief executive officer owned 2,375,855 shares in the company, valued at approximately $87,051,327.20. This trade represents a 2.59% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 180,000 shares of company stock valued at $6,594,000. Company insiders own 68.57% of the company’s stock.

About ON

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.