Zurcher Kantonalbank Zurich Cantonalbank Sells 5,562 Shares of On Holding AG (NYSE:ONON)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in On Holding AG (NYSE:ONON) by 20.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,021 shares of the company’s stock after selling 5,562 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ON were worth $567,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ONON. Jennison Associates LLC grew its stake 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 purchasing an additional 554,513 shares during the period. American Century Companies Inc. grew its position in ON by 109.3% during the third quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock valued at $182,688,000 after buying an additional 3,428,794 shares during the period. Bamco Inc. NY increased its holdings in ON by 243.0% during the third quarter. Bamco Inc. NY now owns 3,028,002 shares of the company’s stock valued at $84,239,000 after buying an additional 2,145,318 shares during the last quarter. Invesco Ltd. raised its position in ON by 2.7% in the third quarter. Invesco Ltd. now owns 2,908,297 shares of the company’s stock worth $80,909,000 after acquiring an additional 76,518 shares during the period. Finally, Jericho Capital Asset Management L.P. purchased a new position in shares of ON during the 3rd quarter worth $59,539,000. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Telsey Advisory Group restated an “outperform” rating and issued a $37.00 price objective on shares of ON in a research note on Wednesday, April 24th. TheStreet downgraded ON from a “c” rating to a “d+” rating in a research note on Monday, March 18th. Redburn Atlantic reiterated a “neutral” rating and set a $34.00 price objective on shares of ON in a research note on Thursday, March 7th. Piper Sandler raised their target price on shares of ON from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Finally, Barclays began coverage on shares of ON in a report on Monday, April 1st. They set an “overweight” rating and a $38.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.13.

ON Price Performance

ONON stock opened at $31.29 on Thursday. The firm has a market capitalization of $19.70 billion, a P/E ratio of 115.89, a P/E/G ratio of 1.14 and a beta of 2.16. On Holding AG has a 1 year low of $23.41 and a 1 year high of $37.08. The business’s 50-day moving average is $33.20 and its two-hundred day moving average is $29.79.

ON (NYSE:ONON) last released its quarterly earnings data 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 return on equity of 6.85% and a net margin of 4.04%. The business had revenue of $504.69 million for the quarter, compared to analysts’ expectations of $515.30 million. On average, analysts expect 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.