On Holding AG (NYSE:ONON) Stake Increased by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in On Holding AG (NYSE:ONON) by 22.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 977,241 shares of the company’s stock after buying an additional 177,280 shares during the period. Victory Capital Management Inc. owned about 0.16% of ON worth $26,356,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ONON. Asset Management One Co. Ltd. boosted its stake in shares of ON by 20.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,145 shares of the company’s stock valued at $60,000 after buying an additional 367 shares during the period. Janney Capital Management LLC boosted its position in ON by 2.7% during the third quarter. Janney Capital Management LLC now owns 14,450 shares of the company’s stock valued at $402,000 after purchasing an additional 384 shares during the last quarter. Pittenger & Anderson Inc. grew its stake in ON by 34.8% in the third quarter. Pittenger & Anderson Inc. now owns 1,550 shares of the company’s stock valued at $43,000 after purchasing an additional 400 shares in the last quarter. Spire Wealth Management increased its position in ON by 91.0% in the 3rd quarter. Spire Wealth Management now owns 972 shares of the company’s stock worth $27,000 after purchasing an additional 463 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of ON by 63.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,521 shares of the company’s stock worth $42,000 after purchasing an additional 592 shares in the last quarter. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Analysts Set New Price Targets

ONON has been the subject of several recent research reports. Piper Sandler boosted their price target on ON from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. William Blair assumed coverage on shares of ON in a report on Tuesday, April 16th. They set an “outperform” rating on the stock. TheStreet lowered shares of ON from a “c” rating to a “d+” rating in a research note on Monday, March 18th. TD Cowen increased their target price on shares of ON from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Redburn Atlantic reaffirmed a “neutral” rating and issued a $34.00 price target on shares of ON in a research report on Thursday, March 7th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.53.

ON Stock Performance

NYSE:ONON opened at $34.02 on Wednesday. The firm’s 50-day moving average is $33.26 and its 200-day moving average is $30.05. The company has a market cap of $21.42 billion, a price-to-earnings ratio of 126.00, a PEG ratio of 1.16 and a beta of 2.17. On Holding AG has a 52-week low of $23.41 and a 52-week high of $37.08.

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