832,727 Shares in On Holding AG $ONON Purchased by Bessemer Group Inc.

Bessemer Group Inc. bought a new position in shares of On Holding AG (NYSE:ONON) in the second quarter, Holdings Channel reports. The institutional investor bought 832,727 shares of the company’s stock, valued at approximately $43,344,000.

A number of other hedge funds have also made changes to their positions in the company. Montag A & Associates Inc. acquired a new stake in ON in the 1st quarter valued at about $26,000. TCTC Holdings LLC increased its position in ON by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock valued at $26,000 after acquiring an additional 315 shares in the last quarter. Washington Trust Advisors Inc. acquired a new stake in ON in the 2nd quarter valued at about $29,000. Smartleaf Asset Management LLC increased its position in ON by 3,392.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 943 shares of the company’s stock valued at $42,000 after acquiring an additional 916 shares in the last quarter. Finally, Ramirez Asset Management Inc. acquired a new stake in ON in the 1st quarter valued at about $44,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

Wall Street Analyst Weigh In

ONON has been the subject of several research reports. Raymond James Financial lowered their price objective on shares of ON from $66.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, October 21st. Morgan Stanley raised their price objective on shares of ON from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Weiss Ratings restated a “sell (d+)” rating on shares of ON in a research report on Wednesday, October 8th. Zacks Research cut shares of ON from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Finally, Barclays lifted their price target on shares of ON from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.75.

ON Stock Up 1.3%

Shares of NYSE:ONON opened at $42.23 on Tuesday. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The company has a 50 day moving average of $43.68 and a 200-day moving average of $48.74. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00. The stock has a market cap of $26.59 billion, a price-to-earnings ratio of 93.85, a P/E/G ratio of 5.18 and a beta of 2.19.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.35). ON had a return on equity of 8.75% and a net margin of 4.45%.The firm had revenue of $944.29 million for the quarter, compared to the consensus estimate of $707.74 million. During the same period in the previous year, the business earned $0.14 EPS. The firm’s revenue was up 32.0% compared to the same quarter last year. ON has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that On Holding AG will post 0.66 earnings per share for the current year.

ON Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.