OMERS ADMINISTRATION Corp Acquires New Position in On Holding AG $ONON

OMERS ADMINISTRATION Corp purchased a new position in On Holding AG (NYSE:ONON) during the first quarter, HoldingsChannel reports. The fund purchased 167,379 shares of the company’s stock, valued at approximately $5,694,000.

Several other hedge funds also recently bought and sold shares of the stock. Cullen Frost Bankers Inc. lifted its stake in shares of ON by 639.7% during the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after purchasing an additional 467 shares during the period. Caitlin John LLC acquired a new position in ON during the fourth quarter valued at approximately $25,000. MidAtlantic Capital Management Inc. purchased a new stake in ON during the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd boosted its position in shares of ON by 555.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after buying an additional 594 shares during the period. Finally, Ascentis Independent Advisors acquired a new stake in ON in the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Price Performance

NYSE ONON opened at $35.89 on Monday. The stock’s 50-day moving average is $37.67 and its two-hundred day moving average is $39.65. On Holding AG has a fifty-two week low of $31.41 and a fifty-two week high of $52.41. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39. The firm has a market cap of $22.90 billion, a P/E ratio of 38.60, a price-to-earnings-growth ratio of 0.67 and a beta of 2.12.

ON (NYSE:ONON) last released its earnings results 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 net margin of 7.92% and a return on equity of 15.72%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business earned $0.21 EPS. The business’s revenue was up 14.5% on a year-over-year basis. On average, analysts anticipate that On Holding AG will post 1.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on ONON shares. KeyCorp decreased their price target on shares of ON from $58.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Zacks Research raised ON from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Evercore set a $42.00 target price on shares of ON in a research note on Tuesday, May 12th. JPMorgan Chase & Co. initiated coverage on ON in a report on Thursday, July 2nd. They set an “overweight” rating and a $51.00 price target on the stock. Finally, Barclays cut their target price on ON from $57.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.79.

Insider Activity

In related news, CEO Caspar Felix Coppetti acquired 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, with a total value of $2,198,400.00. Following the completion of the acquisition, the chief executive officer owned 2,375,855 shares of the company’s stock, valued at $87,051,327.20. This trade represents a 2.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Olivier Bernhard acquired 60,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the acquisition, the insider owned 5,163,184 shares of the company’s stock, valued at approximately $189,127,429.92. This trade represents a 1.18% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 180,000 shares of company stock worth $6,594,000.

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.