Fiera Capital Corp Makes New $36.86 Million Investment in On Holding AG $ONON

Fiera Capital Corp acquired a new stake in On Holding AG (NYSE:ONON) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 708,207 shares of the company’s stock, valued at approximately $36,862,000.

A number of other institutional investors and hedge funds have also modified their holdings of ONON. Public Employees Retirement System of Ohio lifted its position in ON by 106.6% during the second quarter. Public Employees Retirement System of Ohio now owns 68,583 shares of the company’s stock valued at $3,570,000 after purchasing an additional 35,391 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of ON by 36.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,245 shares of the company’s stock valued at $494,000 after buying an additional 3,025 shares during the period. Citigroup Inc. lifted its holdings in shares of 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 buying an additional 89,982 shares during the period. Red Spruce Capital LLC boosted its stake in shares of ON by 64.8% in the 2nd quarter. Red Spruce Capital LLC now owns 35,566 shares of the company’s stock worth $1,851,000 after buying an additional 13,980 shares during the last quarter. Finally, Bessemer Group Inc. bought a new stake in shares of ON in the second quarter worth $43,344,000. Institutional investors own 36.39% of the company’s stock.

ON Trading Up 2.1%

Shares of ONON opened at $42.39 on Friday. The company’s fifty day simple moving average is $41.69 and its 200-day simple moving average is $48.21. The company has a market cap of $26.69 billion, a P/E ratio of 55.05, a P/E/G ratio of 5.16 and a beta of 2.18. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. On Holding AG has a twelve month low of $34.38 and a twelve month high of $64.05.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.35). ON had a net margin of 7.45% and a return on equity of 15.47%. The firm had revenue of $944.29 million for the quarter, compared to the consensus estimate of $707.74 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The business’s revenue for the quarter was up 32.0% on a year-over-year basis. As a group, analysts expect that On Holding AG will post 0.66 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ONON shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ON in a research report on Wednesday, October 8th. Raymond James Financial lowered their target price on ON from $66.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 21st. Morgan Stanley raised their price objective on ON from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday. Evercore ISI decreased their target price on shares of ON from $68.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Telsey Advisory Group restated an “outperform” rating and set a $65.00 target price on shares of ON in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $61.14.

ON Company 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.