On Holding AG $ONON Shares Sold by Fox Run Management L.L.C.

Fox Run Management L.L.C. reduced its stake in shares of On Holding AG (NYSE:ONON) by 11.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,918 shares of the company’s stock after selling 3,050 shares during the period. Fox Run Management L.L.C.’s holdings in ON were worth $1,245,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its position in shares of ON by 106.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 68,583 shares of the company’s stock worth $3,570,000 after purchasing an additional 35,391 shares during the period. PNC Financial Services Group Inc. lifted its stake in ON by 36.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,245 shares of the company’s stock worth $494,000 after acquiring an additional 3,025 shares in the last quarter. Citigroup Inc. boosted its holdings in ON by 73.1% during the 1st quarter. Citigroup Inc. now owns 213,127 shares of the company’s stock valued at $9,361,000 after acquiring an additional 89,982 shares during the period. Red Spruce Capital LLC grew its position in ON by 64.8% in the 2nd quarter. Red Spruce Capital LLC now owns 35,566 shares of the company’s stock valued at $1,851,000 after acquiring an additional 13,980 shares in the last quarter. Finally, Bessemer Group Inc. purchased a new stake in ON during the second quarter worth about $43,344,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Telsey Advisory Group reissued an “outperform” rating and issued a $65.00 price objective on shares of ON in a research note on Wednesday. The Goldman Sachs Group set a $50.00 price target on shares of ON in a research report on Monday, October 27th. BTIG Research restated a “buy” rating and issued a $70.00 price target on shares of ON in a research note on Tuesday. Jefferies Financial Group set a $40.00 price objective on ON and gave the company an “underperform” rating in a research note on Wednesday, August 13th. Finally, TD Cowen decreased their target price on ON from $63.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.05.

ON Stock Down 1.4%

Shares of NYSE ONON opened at $35.01 on Friday. The business has a 50-day moving average of $42.23 and a two-hundred day moving average of $48.40. The company has a market capitalization of $22.04 billion, a price-to-earnings ratio of 77.79, a price-to-earnings-growth ratio of 4.35 and a beta of 2.18. On Holding AG has a 1 year low of $34.38 and a 1 year high of $64.05. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00.

ON (NYSE:ONON) last issued its earnings results 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). The business had revenue of $944.29 million for the quarter, compared to analyst estimates of $707.74 million. ON had a return on equity of 8.75% and a net margin of 4.45%.ON’s revenue was up 32.0% on a year-over-year basis. During the same period last year, the business posted $0.14 EPS. ON has set its FY 2025 guidance at EPS. On average, analysts forecast that On Holding AG will post 0.66 earnings per share for the current fiscal 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.