J.W. Cole Advisors Inc. Purchases New Stake in On Holding AG (NYSE:ONON)

J.W. Cole Advisors Inc. purchased a new stake in shares of On Holding AG (NYSE:ONON) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,355 shares of the company’s stock, valued at approximately $360,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in ON by 4.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,708,416 shares of the company’s stock valued at $46,076,000 after buying an additional 76,746 shares during the last quarter. Liontrust Investment Partners LLP raised its holdings in ON by 204.7% in the 3rd quarter. Liontrust Investment Partners LLP now owns 517,942 shares of the company’s stock worth $14,410,000 after purchasing an additional 347,942 shares in the last quarter. Jennison Associates LLC raised its holdings in ON by 7.6% in the 3rd quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock worth $219,416,000 after purchasing an additional 554,513 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in ON by 127.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 131,585 shares of the company’s stock worth $3,549,000 after purchasing an additional 73,839 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. raised its holdings in ON by 10.3% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 292,338 shares of the company’s stock worth $8,133,000 after purchasing an additional 27,206 shares in the last quarter. 33.11% of the stock is currently owned by institutional investors.

ON Stock Performance

Shares of ONON stock opened at $32.35 on Thursday. On Holding AG has a one year low of $23.41 and a one year high of $37.08. The company’s 50-day moving average is $33.17 and its 200 day moving average is $29.50. The company has a market capitalization of $20.37 billion, a price-to-earnings ratio of 119.81, a price-to-earnings-growth ratio of 1.14 and a beta of 2.16.

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

Analyst Ratings Changes

ONON has been the subject of several research reports. TheStreet lowered shares of ON from a “c” rating to a “d+” rating in a report on Monday, March 18th. Morgan Stanley restated an “overweight” rating and issued a $32.00 price objective on shares of ON in a report on Monday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $40.00 target price on shares of ON in a research report on Tuesday, March 5th. Redburn Atlantic reaffirmed a “neutral” rating and issued a $34.00 target price on shares of ON in a research report on Thursday, March 7th. Finally, Evercore ISI reduced their target price on shares of ON from $40.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 13th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.13.

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.