Whittier Trust Co. Boosts Stake in On Holding AG (NYSE:ONON)

Whittier Trust Co. boosted its holdings in shares of On Holding AG (NYSE:ONON) by 3,219.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,055 shares of the company’s stock after acquiring an additional 10,722 shares during the period. Whittier Trust Co.’s holdings in ON were worth $554,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ONON. Toth Financial Advisory Corp purchased a new stake in ON in the 3rd quarter valued at $396,000. Raymond James & Associates raised its holdings in shares of ON by 23.4% during the 3rd quarter. Raymond James & Associates now owns 256,725 shares of the company’s stock worth $12,875,000 after acquiring an additional 48,600 shares during the period. Blue Trust Inc. boosted its position in shares of ON by 319.8% during the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after acquiring an additional 403 shares during the last quarter. Bleakley Financial Group LLC purchased a new stake in shares of ON in the third quarter valued at about $222,000. Finally, nVerses Capital LLC acquired a new stake in ON during the third quarter worth about $65,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

Wall Street Analysts Forecast Growth

ONON has been the subject of several analyst reports. HSBC began coverage on shares of ON in a research note on Thursday, September 5th. They issued a “hold” rating and a $52.00 price target for the company. Truist Financial raised their target price on ON from $51.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. TD Cowen upped their price target on ON from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Stifel Nicolaus raised their price objective on ON from $45.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Bank of America raised shares of ON from an “underperform” rating to a “neutral” rating and upped their target price for the company from $21.00 to $55.00 in a research report on Monday, September 23rd. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.74.

ON Stock Performance

Shares of ONON opened at $47.36 on Thursday. The stock has a 50-day simple moving average of $47.84 and a 200-day simple moving average of $41.18. On Holding AG has a 1 year low of $24.15 and a 1 year high of $52.80. The stock has a market capitalization of $29.82 billion, a PE ratio of 89.36 and a beta of 2.24.

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 return on equity of 13.02% and a net margin of 7.42%. The firm had revenue of $627.66 million during the quarter, compared to analysts’ expectations of $634.43 million. Analysts predict that On Holding AG will post 0.76 EPS for the current 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.