Federated Hermes Inc. Acquires 195,000 Shares of On Holding AG (NYSE:ONON)

Federated Hermes Inc. boosted its position in On Holding AG (NYSE:ONON) by 54.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 555,000 shares of the company’s stock after buying an additional 195,000 shares during the quarter. Federated Hermes Inc. owned approximately 0.09% of ON worth $14,968,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in shares of ON by 4.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,708,416 shares of the company’s stock worth $46,076,000 after purchasing an additional 76,746 shares during the last quarter. Liontrust Investment Partners LLP lifted its position in shares of ON by 204.7% during the 3rd quarter. Liontrust Investment Partners LLP now owns 517,942 shares of the company’s stock valued at $14,410,000 after acquiring an additional 347,942 shares during the period. Jennison Associates LLC lifted its position in shares of ON by 7.6% during the 3rd quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock valued at $219,416,000 after acquiring an additional 554,513 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in shares of ON by 127.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 131,585 shares of the company’s stock valued at $3,549,000 after acquiring an additional 73,839 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. lifted its position in shares of ON by 10.3% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 292,338 shares of the company’s stock valued at $8,133,000 after acquiring an additional 27,206 shares during the period. Institutional investors and hedge funds own 33.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ONON. Morgan Stanley reiterated an “overweight” rating and set a $32.00 target price on shares of ON in a research report on Monday. Stifel Nicolaus reissued a “buy” rating and set a $40.00 price target on shares of ON in a report on Tuesday, March 5th. Truist Financial boosted their price target on ON from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, March 13th. Evercore ISI lowered their target price on ON from $40.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, March 13th. Finally, TheStreet cut ON from a “c” rating to a “d+” rating in a report on Monday, March 18th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.13.

ON Price Performance

Shares of ONON opened at $31.94 on Tuesday. On Holding AG has a 1 year low of $23.41 and a 1 year high of $37.08. The company has a market capitalization of $20.11 billion, a price-to-earnings ratio of 118.30, a price-to-earnings-growth ratio of 1.10 and a beta of 2.16. The business has a 50-day moving average of $33.08 and a 200-day moving average of $29.39.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). ON had a return on equity of 6.85% and a net margin of 4.04%. The company had revenue of $504.69 million for the quarter, compared to the consensus estimate of $515.30 million. As a group, sell-side analysts anticipate that On Holding AG will post 0.65 EPS for the current year.

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.