On Holding AG $ONON Shares Acquired by Cerity Partners LLC

Cerity Partners LLC grew its stake in On Holding AG (NYSE:ONON) by 6.6% during the fourth quarter, HoldingsChannel reports. The firm owned 854,148 shares of the company’s stock after purchasing an additional 53,169 shares during the quarter. Cerity Partners LLC’s holdings in ON were worth $39,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Franklin Resources Inc. increased its holdings in shares of ON by 40.5% in the fourth quarter. Franklin Resources Inc. now owns 2,126,297 shares of the company’s stock valued at $98,830,000 after purchasing an additional 613,063 shares during the period. Fiera Capital Corp increased its holdings in shares of ON by 32.9% in the fourth quarter. Fiera Capital Corp now owns 920,738 shares of the company’s stock valued at $42,796,000 after purchasing an additional 228,165 shares during the period. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna increased its holdings in shares of ON by 17.8% in the fourth quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 44,000 shares of the company’s stock valued at $2,045,000 after purchasing an additional 6,650 shares during the period. Clearbridge Investments LLC increased its holdings in shares of ON by 110.3% in the fourth quarter. Clearbridge Investments LLC now owns 2,179,978 shares of the company’s stock valued at $101,325,000 after purchasing an additional 1,143,414 shares during the period. Finally, ING Groep NV acquired a new position in shares of ON in the fourth quarter valued at approximately $1,525,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Trading Down 0.4%

Shares of ONON stock opened at $38.09 on Thursday. The business’s fifty day moving average price is $36.40 and its 200 day moving average price is $41.77. On Holding AG has a 1-year low of $31.41 and a 1-year high of $58.08. The firm has a market capitalization of $24.31 billion, a PE ratio of 40.96, a P/E/G ratio of 0.74 and a beta of 2.10. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39.

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

Analysts Set New Price Targets

ONON has been the topic of a number of recent research reports. Guggenheim reissued a “buy” rating and issued a $51.00 target price on shares of ON in a report on Wednesday, May 13th. Barclays dropped their target price on ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Needham & Company LLC dropped their price objective on ON from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. KeyCorp dropped their price objective on ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Finally, Truist Financial dropped their price objective on ON from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.05.

Insider Transactions at ON

In other news, CEO Caspar Felix Coppetti bought 60,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $36.64 per share, for a total transaction of $2,198,400.00. Following the completion of the transaction, the chief executive officer owned 2,375,855 shares in the company, valued at $87,051,327.20. This trade represents a 2.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Olivier Bernhard bought 60,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $36.63 per share, for a total transaction 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. This represents a 1.18% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 180,000 shares of company stock valued at $6,594,000 and have sold 20,750 shares valued at $745,838. 68.57% of the stock is owned by corporate insiders.

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.