Caitong International Asset Management Co. Ltd Buys 410 Shares of On Holding AG $ONON

Caitong International Asset Management Co. Ltd boosted its position in shares of On Holding AG (NYSE:ONON) by 13.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,482 shares of the company’s stock after buying an additional 410 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in ON were worth $181,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Jennison Associates LLC lifted its holdings in shares of ON by 136.6% in the 1st quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock worth $212,943,000 after acquiring an additional 2,798,794 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of ON by 13.9% during the first quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock valued at $869,388,000 after buying an additional 2,416,534 shares during the period. Nuveen LLC bought a new position in shares of ON during the first quarter valued at approximately $102,850,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of ON in the second quarter worth approximately $41,208,000. Finally, Aberdeen Group plc purchased a new stake in shares of ON in the second quarter worth approximately $39,395,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Stock Performance

Shares of ON stock opened at $43.21 on Friday. The company has a market capitalization of $27.21 billion, a PE ratio of 96.02, a P/E/G ratio of 5.25 and a beta of 2.19. The company has a 50-day simple moving average of $43.82 and a two-hundred day simple moving average of $48.64. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.35). ON had a return on equity of 8.75% and a net margin of 4.45%.The business had revenue of $944.29 million for the quarter, compared to analyst estimates of $707.74 million. During the same period in the previous year, the company posted $0.14 earnings per share. The business’s revenue for the quarter was up 32.0% on a year-over-year basis. ON has set its FY 2025 guidance at EPS. Research analysts expect that On Holding AG will post 0.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on ONON. TD Cowen cut their price objective on ON from $63.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Weiss Ratings restated a “sell (d+)” rating on shares of ON in a report on Wednesday, October 8th. Telsey Advisory Group reiterated an “outperform” rating and set a $65.00 price objective on shares of ON in a report on Thursday, August 7th. Zacks Research cut shares of ON from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Finally, Morgan Stanley raised their target price on shares of ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.10.

ON Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.