On Holding AG (NYSE:ONON) Shares Acquired by Axa S.A.

Axa S.A. increased its holdings in On Holding AG (NYSE:ONON) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 605,081 shares of the company’s stock after acquiring an additional 2,259 shares during the quarter. Axa S.A.’s holdings in ON were worth $23,477,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of ONON. WD Rutherford LLC acquired a new stake in ON during the first quarter valued at approximately $52,000. Asset Dedication LLC raised its stake in ON by 25.8% during the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after buying an additional 327 shares in the last quarter. Orion Capital Management LLC raised its stake in ON by 106.7% during the first quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock valued at $88,000 after buying an additional 1,280 shares in the last quarter. National Bank of Canada FI raised its stake in ON by 24.0% during the second quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock valued at $98,000 after buying an additional 500 shares in the last quarter. Finally, Register Financial Advisors LLC acquired a new stake in ON during the first quarter valued at approximately $100,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ONON. Evercore ISI upgraded ON to an “overweight” rating and upped their price objective for the company from $43.00 to $47.00 in a research note on Monday, August 12th. Hsbc Global Res raised ON to a “hold” rating in a report on Thursday, September 5th. Sanford C. Bernstein began coverage on ON in a report on Tuesday, June 11th. They set an “outperform” rating and a $50.00 target price for the company. Morgan Stanley upped their target price on ON from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. upped their target price on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, ON presently has an average rating of “Moderate Buy” and an average target price of $47.95.

ON Stock Performance

Shares of NYSE ONON opened at $51.55 on Friday. The stock has a fifty day moving average price of $43.98 and a two-hundred day moving average price of $39.04. The firm has a market cap of $32.46 billion, a P/E ratio of 117.16, a PEG ratio of 1.40 and a beta of 2.24. On Holding AG has a 1 year low of $23.41 and a 1 year high of $52.16.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). ON had a net margin of 7.42% and a return on equity of 13.02%. The firm had revenue of $627.66 million for the quarter, compared to the consensus estimate of $634.43 million. On average, research analysts predict that On Holding AG will post 0.82 earnings per share for the current fiscal year.

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.