Capital Advisors Inc. OK Raises Stock Holdings in On Holding AG (NYSE:ONON)

Capital Advisors Inc. OK grew its stake in shares of On Holding AG (NYSE:ONON) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,186 shares of the company’s stock after buying an additional 301 shares during the period. Capital Advisors Inc. OK’s holdings in ON were worth $310,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after acquiring an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in ON by 210.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares during the period. Quarry LP purchased a new position in ON in the 2nd quarter worth approximately $32,000. MFA Wealth Advisors LLC bought a new position in ON in the 3rd quarter worth approximately $50,000. Finally, nVerses Capital LLC bought a new position in shares of ON during the third quarter worth $65,000. 33.11% of the stock is currently owned by institutional investors.

ON Trading Down 1.9 %

Shares of ONON stock opened at $46.50 on Friday. On Holding AG has a twelve month low of $24.15 and a twelve month high of $52.80. The stock has a fifty day simple moving average of $48.66 and a two-hundred day simple moving average of $41.91. The stock has a market capitalization of $29.28 billion, a price-to-earnings ratio of 87.74 and a beta of 2.25.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The business had revenue of $627.66 million during the quarter, compared to analysts’ expectations of $634.43 million. Research analysts predict that On Holding AG will post 0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Piper Sandler raised their price objective on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Truist Financial upped their price objective on ON from $51.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Stifel Nicolaus raised their price objective on ON from $45.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Telsey Advisory Group reissued an “outperform” rating and set a $47.00 target price on shares of ON in a research report on Tuesday, August 13th. Finally, KeyCorp lifted their price objective on shares of ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.74.

ON Company 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.